Word: weekes
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
...rescue last week came Northeastern Timber Marketing Association in a deal without precedent. For the sum of $14,400,000, the association agreed to take the entire 600,000,000 feet (95% white pine) off the Government's hands. It agreed to pay an average price of $24 a thousand board feet, to put up a $750,000 bond and $100,000 cash by Dec. i, to pay off in $800,000 quarterly payments over the next four and a half years. Limited to a profit of 20%, the association must split anything above that with the Government, which...
...hurricane timber, was afraid that if he did the market price would go to pot when the Government began selling. Northeastern Association was the solution. To keep it out of the monopoly class, the Government insisted that it be a cooperative with at least 30 members. Last week, with a Delaware incorporation and Manhattan offices, it began soliciting more members...
...directions about the time accordion-pumping Tommy Corcoran usurped the role of FDR enchanter previously played by guitar-plucking Will Woodin of American Car & Foundry. Woodin economy soon was forgotten, Woodin himself died, but left behind in the Treasury was an American Car & Foundry alumnus, Walter Joseph Cummings. Last week Mr. Cummings was conspicuous for a second time in recent years...
...Last week Mr. Cummings cut the umbilical cord between his bank and RFC, announced that Continental Illinois would buy back the last $25,000,000 of its preferred in one batch...
...Last week from Government banksters in Washington came a cry that Continental Illinois is undercapitalized. Its common, which was increased by stock dividends as the preferred was retired in 1936-38, stands at $50,000,000 (its surplus is $20,000,000). This amounts not to the traditional 10% but to only 4.1% of deposits. However, Continental Illinois has nearly as much cash and governments ($1,111,078,283) as deposits ($1,212,371,248) and was as solvent as could be. Onetime RFC Employe Cummings was in a position to tell Boss Jones to go whistle...