Word: refunded
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Dates: during 1930-1939
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...whose manipulation tends to build up big bank reserves. One purpose of this easy money policy was to make private borrowing cheap, the hoary formula for reviving depressed business. So far U. S. businessmen have done little new borrowing, though they have taken advantage of the cheap money to refund billions of old securities at lower rates...
...first farm mortgages or Government bonds, they are joint and several obligations of all twelve Land Banks, which are supervised by the Farm Credit Administration. Unlike Home Owners' Loan Corp. bonds, Land Bank bonds are not Government-guaranteed. All recent Land Bank issues have been sold to refund outstanding bonds with higher coupons. And since by law the Land Banks may charge borrowers no more than 1% in excess of the rate at which they themselves are able to borrow, Mr. Dunn as the farmers' Wall Street agent is now providing mortgage money...
When James William Ellsworth, father of Explorer Lincoln Ellsworth, died in 1925, the village of Hudson, Ohio, collected some $60,000 in taxes from his estate, spent it for a sewage disposal plant, fire equipment, street paving. The Ohio Supreme Court ordered the village to refund $34,505,77 to Son Lincoln because Hudson had overtaxed the Ellsworth estate. Having splurged the $60,000, Hudson's Mayor Carman unhappily revealed that the town had only $154.47 left to pay Explorer Ellsworth...
...brought suit "on behalf of myself and all other consumers of agricultural products." This Russian-born left-winger sought to restrain Standard Milling Co., National Biscuit Co., Wheatena Corp., Postum Co., Consolidated Cigar Corp., Corn Products Refining Co. and 19 other companies from "disposing and wasting" any of their refunded tax. Plaintiff Reiskind, a lawyer, conceded that a prorata rebate to all consumers would be impossible, thought that the money should revert to the U. S. Treasury. Meanwhile the Chicago butchers charged that the packers had passed along their tax in the form of higher meat prices. The butchers claimed...
Republic Steel made $4,455,000 in 1935 as against a loss of $3,459,000 in 1934. First profit since the present company's formation in 1930, the 1935 earnings emphasized President Tom Girdler's position as steel's man-of-the-year. To refund debts of subsidiaries, President Girdler last week sold $45,000,000 of 4½% bonds maturing...