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From "Nixon's, Inc." prepared by Younger Re: history of Donald Nixon's business "Nixon's Inc." stating that Richard Nixon is not affiliated with the business. [Report], 6/15/1962
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WHSF: Returned, 22-5
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From "Nixon's, Inc." prepared by Younger Re: history of Donald Nixon's business "Nixon's Inc." stating that Richard Nixon is not affiliated with the business. [Report], 6/15/1962
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Richard Nixon Presidential Library
White House Special Files Collection
Folder List
Box Number Folder Number Document Date
Document Type
Document Description
22
5
06/15/1962
Report
From "Nixon's, Inc." prepared by Younger
Re: history of Donald Nixon's business
"Nixon's Inc." stating that Richard Nixon is
not affiliated with the business.
Thursday, August 14, 2008
Page 1 of 1
NIXON FOR GOVERNOR
Rm. 82% 315 West Nink Street, Los Angeles 15; MA J-6227
EC: 1956 loan for "Ninon's, Inc."
In 1955, when M. Donald Within capital for his business,
thich had been incorporated no "Marm's, Inc.", he discussed his situation
with Fron): Waters, Vitone offe was a long-tine friend of Irs. Donald Winon,
dating back to college days.
Enters, 48 atterney for Rethod Tool Company, van responsible for
suggesting and working cut 0 loan of $105,000 10 Mrs. Termah (Foruld
Miton's nother) for use in her soa's business.
to security for the "2tc, valiable
piece of : lot
of
C.O 10.00 vas
that $40, 000 be used to holld t: service station on the projecty, which
further increased its value. The property has been oppenized to be worth
$223,000, without the inprovements.
Then business inflod, Prs. Hannah liken satisfied
the note by dealing the [Monerty and by assigning her leange's interest in
the service station. The entter WHO produced actiofactorily resolved by
all purties, until It V:G relued 25 o Idat-minute issue in the 1960
presidential compaign.
12. Richard liven this at no time or in any way involved or en amer or
in the operation OF formation of his brother bustness, inc.,
or in any of the negotiations or transactions concerning the loan.
propered by
AMtorial Consultant
June 15, 1932
NIXON FOR GOVERNOR
Rm. 821, 315 West Ninth Street, Los Angeles 15; MA 3-6227
IG: 1956 loan for "Nizon's, Inc."
In 1956, when Mr. Donald Nixon needed capital for his business,
which had been incorporated as "Nimon's, Inc.", he discussed his situation
with Frank Waters, whose wife was a long-time friend of Mrs. Donald Nixon,
dating back to college days.
Waters, as attorney for Hughes Tool Company, vao responsible for
suggesting and working out a loan of $205,000 to Mrs. Honnah Nixon (Donald
Nixon's mother) for use in her son's business.
As security for the note, Mrs. Hunnah Minon pet 17 her must valuable
piece of property, a lot 1n institut. One of the conditions of the loan was
that $40,000 be used to build a modern service station on the property, which
further increased its value. The property has been appraised to be worth
$223,000, without the improvements.
Mien Donald Nixon's business failed, Mrs. Hannah Nixon satisfied
the note by deeding the property and by assigning her lessor's interest in
the service station. The matter was presumed satisfactorily resolved by
all parties, until it Vas raised as a last-minute issue in the 1960
presidential campaign.
12. Richard Nixon was at no time or in any way involved as an owner or
in the operation or formation of his brother Donald's business, Mizon's, Inc.,
or in any of the negotiations or transactions concerning the loan.
propared by
Mildred Younger
Aditorial Consultant
June 15, 1962