Word: payment
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...Club was evicted from its head-quarters over the Gold Coast Valeteria last week for non-payment of rent. Sometime in the next two weeks the club's alumni board will decide whether the club, incorporated in 1951, should be permanently disbanded, Keith Hennessee '68, the club's president, said Saturday...
...Unlike the FHA, the Milwaukee firm relies on its 4,500 lender-customers to appraise the value of property it insures, screens out bad risks by spot checks. The company concentrates on loans for city and suburban one-family homes, generally insists on at least a 10% down payment. As a result, its foreclosure rate runs about half that of the FHA, which backs loans made on a mere 3% down payment, and the VA, which guarantees loans with no down payment...
...Payment Pattern. The credit current runs particularly strong on campus. Wally Reid Ltd., a men's clothing store in Evanston, Ill., cheerfully opens charge accounts for Northwestern University students-although it invariably turns down applications by youths from the town. At the University of Georgia in Athens, the local branch of Atlanta's Citizens & Southern National Bank has been issuing credit cards, says Public Relations Officer Robert Clayton, "like they are going out of style." Still, some stores feel safer with nonstudents. J. L. Hudson Co. in Detroit, for example, extends credit to teen-agers only when they...
Many businessmen remain chary of teen-age credit because minors often are not legally responsible for their debts, and even when stores offer such credit, they require that parents guarantee payment. One exception is Detroit's B. Siegel Co., a clothing store with a policy that limits young working girls to accounts of $100 or less for the first six months-until, says Credit Sales Manager William Honig, "we see that a satisfactory payment pattern is established." Seldom does the store require adult co-signers. Explains Honig: "We're establishing credit for the young people, not for their...
...Canada's two basic problems remain unresolved. The first is American economic and political domination. Pearson's effectiveness has been limited to successful lobbying against U.S. balance-of-payment restrictions which would have badly damaged the Canadian economy. But the Canadian public is aware that it owes its high standard of living to American capital, and is unreceptive to calls for a sharp assertion of Canadian economic independence. The Pearson government's failure to bring it about is hardly surprising...