Word: rental
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Dates: during 1950-1950
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...make sure the scheme was okay, Translease checked with San Francisco's Federal Reserve Bank. FRB said okay-as long as customers are not permitted to apply rental payments towards buying the car. Both companies had been leasing fleets of cars to business firms for some time. But with credit controls they thought private-car leasing looked much more profitable...
...president and nephew of the founder. He already has more than 300 leased cars on the road, and is averaging 75 new leases a week. Under Waters' plan, the lessee gets a brand-new car with radio and heater for a $50 deposit, pays an average rental of $72 a month, tax deductible if the car is used for business. Waters picks up the tab for repairs and servicing. The car user pays only for insurance (collision and liability), gas and oil. After 18 months, by which time he has paid $1,300, the lessee can exchange...
Horseplay. In San Diego, Miss Eugenia Welker complained to police that practical jokers spoiled her vacation by 1) listing her house with a rental agent, 2) falsely reporting to police that she had found a diamond ring, 3) sending her ten pounds of horse meat...
...story above a garage on a 25-ft. lot) that local wags call the southwest corner of the city the "White Cliffs of Doelger." Just outside Chicago, Builder Nathan Manilow, whose well-planned Park Forest development on a 2,400-acre plot makes a complete city of 3,000 rental houses, is getting ready to build another 2,800 houses to sell...
...charge of grass seed." From outside interests (e.g., the California timber stands and two country clubs which are operated in connection with the Levitts' more expensive Strathmore developments) the brothers get another $150,000 a year apiece. And when they sold 4,028 of Levittown's rental houses (leaving them only 1,600 rental units) to Philadelphia's Junto School (TIME, March 13) for $5,150,000, a big chunk of it was clear profit, taxable at 25% as a long-term capital gain...