Business & Finance: Deals & Developments

Record Mortgage. Last week Manhattan's Radio City interests arranged to borrow $65,000,000 from Metropolitan Life Insurance Co. through a series of 5% mortgage bonds, all of which will have been retired by 1950. The deal was the biggest mortgage ever placed with one investor, far exceeding the previous record—a $27,500,000 first mortgage on Empire State Building which was also taken up by Metropolitan.

Exception. Dividend actions last week continued to be adverse but there was one shining exception. National Cash Register Co. ordered a payment of 37½¢ on its A stock. This stock...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!