Word: payments
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Dates: during 1930-1939
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From the proceeds of its bond issue Hearst Magazines will add about $1,000,000 to working capital. Another $1,000,000 will be used to refund an old debenture issue. The disposition of the rest is a complete lesson in Hearst finance. First comes the payment of bank loans amounting to $1,900,000. To get these bank loans Hearst Magazines had to have them guaranteed by its parent company, Hearst Corp., by its grandparent company, American Newspapers, Inc., and personally by William Randolph Hearst. Mr. Hearst's name is also on a $2,000,000 printing bill...
...short-term notes sold to Halsey, Stuart & Co. last month. Two-thirds of this money was borrowed not for the use of the borrower. Hearst Magazines, but to re-lend upstream to American Newspapers. Inc. The rest of the money borrowed from Halsey, Stuart was applied as a down payment on a Manhattan building owned by Hearst's New York Evening Journal-but leased by Hearst Magazines. Full price for the building is $3,253,000, which is $500,000 more than the appraised value. This inflated price is justified on the ground that Hearst Magazines will thus...
...accounting is the principal tangible asset-$37,000,000 due from its parent company, Hearst Consolidated Publications. A footnote explains that most of that item once represented money due from another Hearst company. When Hearst Consolidated was formed in 1930, it assumed the debt in part payment for stock in Hearst Publications. Thus, in effect, the subsidiary lent the parent company the money with which the parent company bought the subsidiary's stock. Hearst Publications lists its goodwill (circulation, press franchises, reference libraries, etc.) at $38,000,000, some $30,000,000 of which represents write...
Feature of the game from the spectator point of view is the introduction of ladies' day in Crimson baseball. All women will be admitted on payment of a five cent federal...
...members of the fair and gentler sex are welcome, and, for the simple payment of the government tax, may have the best seat in the park. Incidentally, they will see a red-hot game between the local nine and a strong Princeton team...