Word: payments
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Dates: during 1950-1959
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First step was the purchase by Junto of the Bethpage Realty Corp., which owned the 4,028 rental houses and was, in turn, owned by Levitt and his brother Alfred S. The price: $5,150,000 with $1,500,000 as down payment...
...make the down payment, Junto borrowed $1,500,000 for five days from the Fidelity-Philadelphia Trust Co., and took over Bethpage. In its treasury was around $5,000,000 in working capital and profits. With this cash, Junto repaid the Fidelity-Philadelphia Co. and paid Levitt and his brother another $3,400,000. Junto agreed to pay the remaining $250,000 to the Levitts next December. Since it expects to do so out of cash on hand and incoming rents, Junto actually got the houses for nothing. When the mortgages are paid off in some 20 years, it will...
...meeting, nineteen were voted unanimously, including a half million appropriation for general running expenses. On some of the others, the discussion was log and tortuous. Article 18, "To see if the Town will vote to purchase and erect a Town Flag pole...and provide for the payment thereof," drew considerable comment from patriots, economizers and wags. In the end, the meeting voted the article down. The voters had less to say about a subsequent proposal to grant the town police force a forty-hour week. Defeat came quickly amid arguments such as "the men have civil service status and security...
Next day, brawny (6 ft., 195 lbs.) Craig Royer Sheaffer, 52-year-old president of the biggest U.S. pen company, gave stockholders something else to celebrate: the company declared an extra dividend of $1.15 a share on top of its regular quarterly payment of 10?. Although the company's twelve-month sales had sagged 10% from $22 million in the previous year, Penman Sheaffer had been able to boost his previous $2.4 million profit...
...hotel, a theater, two bowling alleys, an auto agency, a wholesale liquor business, and a stable of money-winning harness horses. This week the new heel factory, put up in only six months, began production, turning out 30,000 pairs of heels a day. In 70 months and after payment of $70,000 in rent, the company would own the plant free and clear. (At $12.50 a ton, sales of the waste sawdust alone would pay the rent...