Word: repaid
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...made no sale for six months. "Since I guaranteed the artists that I'd sell 10% of their works, I almost had to start a collection," he says. He took off for Paris, where the artists whose works he had bought-Max Ernst, Man Ray, and Marcel Duchamp-repaid him by giving him pointers in painting. Today Copley's Surrealist collection ranks as the finest in the U.S., takes up much of his spacious Manhattan apartment, where he lives with his China-born wife,' Chuang-Hua, the author of a 1969 novel called Crossings...
...plan would benefit mostly the one active investor in every ten who buys stock on margin. Whether they realize it or not, margin buyers agree to let their brokers use their stock as collateral on bank loans, which must be repaid before the stock can be sold and the cash returned to the customer. The insurance plan would also bring greater peace of mind to investors who leave cash and fully paid securities in their accounts. Brokers are supposed to keep customers' cash and paid-up stocks separate from their own assets, but Phillip Loomis, general counsel...
...shares with money borrowed from a bank. Here the tax quirk comes into play: the company could agree to make tax-deductible contributions to the trust to enable it to repay the loan; if the company itself borrowed the money from the bank, the loan would have to be repaid in after-tax dollars...
...firm was for sale, they converted their profit-sharing plan into a stock bonus trust. The trust used its cash, plus a borrowed $1,000,000, to buy F.C.C.'s common shares, pledging the assets of the company to secure the loan. Within 2± years, the trust repaid the loan out of company profits. In similar fashion, employees used a Kelso-devised fund to buy Peninsula Newspapers, Inc. of Palo Alto, Calif...
...last January, when the FHA and VA rates were lifted from 6¾% to 7½%. Recently, lenders have been willing to make mortgage loans at the 7½% rate only by charging discounts as high as ten points-that is, advancing $9 for every $10 that must be repaid. The discount brings the return to lenders in line with that of competing investments, but sellers of existing houses and builders of new ones have either had to absorb the discount or add it to the selling price...