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...making the figures public, Harold V. Gleason resigned as chairman and president, completing an almost total wipe-out of Franklin's top management. He took the new post of executive vice chairman, and was succeeded as chief executive by Joseph W. Barr, a former Democratic Congressman from Indiana arid Secretary of the Treasury during the last few weeks of Lyndon Johnson's Administration. Frightened depositors continued to withdraw their savings. The bank lost more than $100 million in deposits last week, bringing withdrawals to $930 million, or almost a third of the $3 billion deposits that Franklin held...

Author: /time Magazine | Title: SCANDALS: Franklin's Low Finance | 7/1/1974 | See Source »

SAUDI ARABIA. As the Spirit of 76 flew over the arid wastes of the Arabian Desert, red-bereted troops riding in red Jeeps and red Chevrolets escorted a Rolls-Royce limousine to the airport in Jidda, the sun-baked seaport on the Red Sea. Saudi Arabia's royal guard -Bedouin tribesmen wearing black bandoleers and armed with single-shot rifles and curved knives in gold sheaths -stood smartly at attention. A team of sweepers began brushing the red carpet for the last time When the blue and silver U.S. jet came to a halt and President Nixon emerged, King...

Author: /time Magazine | Title: DIPLOMACY: A Triumphant Middle East Hegira | 6/24/1974 | See Source »

Died. Frank Smithwick Hogan, 72, Manhattan's tough, scrupulously honest "Mr. District Attorney" for 32 years; following a stroke and surgery for lung cancer; in Manhattan. Born to Irish immigrant parents. Hogan worked his way through Columbia University law school arid in 1935 joined the staff of New York City's special prosecutor Thomas Dewey in an antimob crusade that resulted in the conviction of racketeer "Lucky" Luciano. When Dewey became D.A. of New York County, Hogan stayed on as his assistant, stepping up when Dewey quit in 1941. Though modest and low-keyed in public, Hogan brought...

Author: /time Magazine | Title: Milestones, Apr. 15, 1974 | 4/15/1974 | See Source »

...this band from the Atlantic to the Red Sea are threatened by starvation. Not even a good rainfall this season can end the tragedy, so wasted is the land and so slight the prospect of a bountiful harvest. Worst hit are Ethiopia and the six nations of the arid Sahel (Mali, Mauritania, Senegal, Upper Volta, Niger and Chad...

Author: /time Magazine | Title: AFRICA: A Feast for Vultures | 4/8/1974 | See Source »

...appalling poverty. Brazil stands only 13th among Latin American nations in per capita income ($520 a year), below even backwaters like Surinam. The average life expectancy is only about 50 years (against 67 in Castro's Cuba), and infant mortality is increasing. In rural areas of the arid Northeast, the average calorie intake of peasants has declined in recent years from 1,800 a day to 1,323-more than 1,200 below what United Nations' food experts consider the minimum for subsistence...

Author: /time Magazine | Title: BRAZIL: A Decade of Ditadura | 3/25/1974 | See Source »

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