Word: creditors
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Dates: during 1950-1959
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...Japanese had rebuilt their country so fast that they had been able to send $1.2 billion worth of investments overseas (including a Bank of Tokyo branch in Los Angeles), and had become a creditor instead of a debtor nation for the first time in history...
...Parkman had inherited a large amount of money, some of which he lent to a colleague, Dr. John White Webster. A professor at the Medical School for a quarter-century, Webster had luxurious tastes beyond his means. Parkman became furious with his debtor when he discovered that both another creditor and himself had been given the same bill of sale as security. He pursued Webster relentlessly and finally made an appointment to see the latter at his laboratory to collect the debt...
...most parts of the U.S., businessmen reported that repossessions during the recession were "insignificant." In the Midwest, says Vice President Keith Cone of Chicago's La Salle National Bank, "the rise in delinquencies and repossessions was just not alarming at all." By prodding the creditor to be more cautious in his lending and thus weeding out many a weak credit risk, the recession actually im proved collections in some places. Sanger Bros. Department Store in Dallas and one of San Francisco's biggest department stores reported that collections were better during the recession than before it. Said Emil...
Paradoxically, one of the great worries about credit, the little or no down payment required for purchases, actually turned out in many cases to be to the advantage of both consumer and creditor. A man who had bought a car with no money down and 36 months to pay had so little equity in the car that he was apt to say "Come and get it" if pressed too hard to pay. Result: many a creditor carried his jobless customers to save himself the trouble and cost of repossession-and usually got his money when the customer...
...March 25). Since the Sarlie loans on 40,000 of the shares guaranteed a $53 market value per share, the F-M market price of $40 last week meant that Penn-Texas had been forced to tie up at least $520,000 in ready cash to oblige just one creditor. Sarlie loans on another 40,000 shares, guaranteed at $43, have tied up $120,000 more...