Word: anstalt
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Dates: during 1930-1930
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Steyr is one of the best automobile names in Austria, but so poor is the country, so hemmed in by the tariff walls of neighbor states, that Steyr earns only minute profits, nearly all of which go to satisfy its major creditor, the Bank Boden-Credit-Anstalt. Blatantly last week the Socialist newsorgans of Vienna screeched that Boden-Credit-Anstalt "has its Capitalist foot on the neck" of Steyr and other Austrian manufacturing firms, charged that the bankers are keeping the businessmen down and starving the workers, because only in this way can they "keep money control of the Austrian...
...story: the Socialists say that Sir Percival Perry, General European Manager for Henry Ford, recently approached Steyr with a proposition that the factory be converted to make Ford parts. Steyr was willing, but Boden-Credit-Anstalt is supposed to have blocked the deal, fearful that such disturbing Ford innovations as high wages might be introduced into Austria...