Word: aloofness
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Conservative banking houses like Morgan Stanley & Co. (divorced underwriting half of J. P. Morgan & Co.) and Kuhn, Loeb & Co. have held themselves coolly aloof from competition for security issues. Their position is that terms reached in direct negotiations with a single underwriter, thoroughly familiar with the financing company, are more likely to be best for borrower and investor than those that come out of a fierce competition among a group of bidding underwriters. Competitive bidding, they hold, "tends to overpricing the issue . . . and to subsequent dissatisfaction and losi of credit and good will of the borrower...
Still plugging their once-sensational theory that economics makes history what it is, the Beards explore the underground economic forces that brought about Coolidge prosperity. With the aloof amusement of two moralists who stayed sober while the rest of the world got tight, they investigate the causes of the crash, the closing of the banks, the New Deal and government by Brain Trust...
...Lecturing at Harvard, Park Commissioner Robert Moses of New York City said: "In practice, every American knows that we cannot remain absolutely aloof from another world conflict... we shall be lucky if this aid can be confined to money, materials and munitions as distinguished from...
...these days of financial recession it is unusual to hear of anyone passing up government money, yet for give years for five years the University with true Republican disdain has held aloof from generous federal offers. Although the National Youth Administration has repeatedly expressed a willingness to contribute a hundred and thirty-five dollars to each of the two hundred and forty college students whom Harvard's officials declared to be both in good standing and in need of the funds in order to remain in college, a wary University Hall has refused to accept the grant...
...Cushing, reticent and aloof, made few friends. He lived for medicine. But at the Hopkins he forged a lifelong bond with Hopkins Founders William Stewart Halsted and William Osier, both much older than he. After Sir William Osier's death, in 1919, Lady Osier persuaded Dr. Cushing to write her husband's biography. Dr. Cushing reluctantly set to work, appropriated an enormous laundry table from the cellar, piled it high with boxes full of notes, set about retrieving Dr. Osier's myriad postcards (he rarely wrote letters). Much to the surprise of Dr. Cushing and his family...