Word: repossessions
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Dates: during 1950-1959
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There was a bright side, too. Credit Man William Murray of Chicago's Goldblatt Bros., Inc. department store, whose sales were off 20%, thought his business would actually be better because he would not have to repossess so many items. "Believe me," said he, "when a buyer has to put $100 down on a $400 item, he's going to make those payments." Furthermore, Murray, and many another retailer, thought that customers would be coming back again as soon as they got used to bigger installment payments...