Word: mortgagee
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Dates: during 1940-1949
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The Hard Way. Wehran, a Marine pilot in World War I, then a barnstormer and a booking agent for Alaska bush flyers, got acquainted with Teterboro the hard way. He crashed there in 1924. In 1941, when he cast a speculative eye at it, the gone-to-weed field did...
When he got nervous, taciturn Lou Moore showed it by licking the right corner of his mouth. He had been nervous since the day in mid-October when he took the money from the mortgage on his North Hollywood, Calif, home and began building a pair of autos to win...
Over the years, Saskatchewan wheat farmers had spent many a sleepless night worrying how to meet the mortgage. On an average, they had to net $12 an acre before they showed a profit. In 1927, they averaged $18.91, but in 1932 the yield skidded to $4.76, which spelled wholesale defaults...
...gave the farmers drought insurance by passing a law that no payment on the principal of a farm mortgage need be made in any year when the average yield from wheat acreage fell below $6; in addition, at least 4% must be written off the principal-at the mortgagee's expense. But interest would still be due on the original principal...
Even with wheat prices still booming in a hungry world, the mortgage issue is far from academic for hundreds of submarginal wheat farmers along Saskatchewan's western border. To keep these uneconomic producers from going to the wall, the province will probably pass a cumbersome moratorium bill. On the...