Word: bank
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
MANHATTAN'S ASTOR PLAZA, bogged down for lack of funds, will be rescued bv First National City Bank, third biggest in U.S. Bank will take over lease on Park Avenue site, between 53rd and 54th Streets, where Vincent Astor intended to erect $75 million slab skyscraper (TIME. Oct. 1, 1956). will put up a building...
...months ago, to fight domestic inflation and to check a flight from sterling so headlong that devaluation seemed due, the Bank of England hiked its bank rate sharply from 5% to 7%, the highest level in 37 years. The shock worked. The flight was reversed: gold and dollar reserves rose $689 million, and by the first of the month stood at $2,539,000,000, best since 1955. In the world's money markets, the pound's worth rose from a low of $2.78 to $2.81. Last week the bank's bowler-hatted runners fanned out again...
This limited success does not "imply any general relaxation in monetary policy," the bank announced; inside Britain, the credit squeeze against creeping inflation will continue...
...Medan, the North Sumatran rubber metropolis of 520,000 people that had just been seized by some 1,500 rebels under Major Boyk Nangolan. As the grimy paratroopers in their red berets moved in, Major Nangolan hastily moved out, first scooping up 18 million rupiahs from a local bank and taking all the arms and gasoline he could carry. The only report of damage in the recapture of Medan came from a Sikh businessman who declared that someone had shot a hole clean through his refrigerator...
...listless U.S. economy the Federal Reserve slipped another pep pill. For the second time in a month FRB last week announced a ½% reduction in the required reserves of member banks (down to 19% for central city banks, 17% for reserve city banks, 11% for country banks), thus freeing a potential $3 billion in bank credit for additional loans. Said a top FRBman: "Our purpose is simple: to create conditions still more favorable to recovery...