Word: payoff
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Dates: during 1950-1959
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...Nuys Boulevard in suburban Los Angeles last week, used-car Dealer Jack Black put up signs around his lot: "GOING-BROKE" sale. Excited Dealer Black was complaining about the Federal Reserve Board's new restrictions on installment buying, which had cut the payoff time on cars from 21 months to 15 (TIME, Oct. 23). When such controls had been slapped on in 1948, Black said he had lost $13,500 and had been forced to go out of business. This time he said he was quitting before the loss; at week's end he had cleared...
...Down payments on furniture were raised from 10% to 15%, and the payoff time cut from 18 to 15 months...
...payoff time on automobiles was cut from 21 to 15 months, but the one-third down payment was unchanged...
...veterans and nonveterans alike, the payoff time on houses costing more than $7,000 was cut from 30 to 20 years...
...payoff game was a pitchers' duel all the way: Don Newcombe for the Dodgers, Robin Roberts for the Phillies-each trying to win his 20th game. The Phillies got a run in the sixth, but Dodger Peewee Reese promptly tied things up with a home run. It was still tied, 1-1, at the end of the ninth. In the tenth, the Phillies settled matters. With two men on, Leftfielder Dick Sisler shoved a fast ball into the left-field stands. It was the Phillies' first pennant in 35 years...