Word: payment
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...Pennsylvania showroom last week, the wife of a $79-a-week machinist was fondly eying a $5,100 pink Lincoln Capri; in Denver, Oldsmobile Dealer Alan Hoskins told of an eager buyer who earned $400 monthly and wanted a '55 Olds. "We figured out his income after house payments, furniture payments, TV payments, and after the car payment," said Hoskins, "he'd be left with $20 a month to live. I just couldn't let him get in deeper...
...taxpayers an estimated $10 million. The scandals revolve around the Texas land program, a 1946 amendment to the state constitution that authorized $100 million in public funds to enable veterans to buy land. Under the program, qualified veterans could purchase ranch or farm land for a 5% down payment, with 40 years to pay off the balance. The state furnished the unpaid balance and held title until the veteran had retired the loan...
...Government and private bankers last week gently stepped on the credit brakes to keep 1955's economy from growing too big, too fast. In Washington, the Federal Housing Administration reduced the maximum FHA loan period from 30 to 25 years, also boosted the minimum down payment by 2% to a total 7% on the first $9,000 of value. Though most of its loans were solidly secured (see below), the Veterans Administration also tightened up on the building boom by requiring at least a 2% down payment on previous no-down-payment loans. In Manhattan, major banks also...
...last summer, year-long negotiations have produced only $9,000,000 worth of firm contracts, mostly for Russian coal, lumber, manganese and chrome, in exchange for Japanese wire rope, tugboats and fishing vessels. Reasons for the failure: high Red prices (20% higher than international levels), uncertain delivery and complex payment systems...
Recently, the VA made a surprising discovery: while 13 of the tenants were paying rents in line with the prevailing level, Brady was not. The VA had signed a contract with Brady to accept $1 from him "in full payment of all rental during the term of occupancy." Just how this had happened, the VA did not know. Last week the Government brought suit to evict Brady. At week's end Brady, 69, was unruffled by the suit, looked forward to a ripe, rent-free...