Word: bank
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Dates: during 1950-1959
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HERMANN JOSEF ABS, director of the powerful Deutsche Bank of Frankfurt and a personal adviser to Germany's Economic Minister Ludwig Erhard (see cover), is generally recognized as one of the most influential spokesmen for the dynamic and prosperous German Federal Republic. In San Francisco, where he celebrated his 56th birthday last week during the I.I.D.C. conference, stocky Hermann Abs also emerged as an incisive spokesman for Western capitalism everywhere...
...Ceylon's Chelliah Loganathan, head of his country's Central Bank, urged each underdeveloped country to establish its own Development Savings Bank. Depositors would be encouraged to save by making the money they put in the bank exempt from income taxes. But if such voluntary funds were inadequate, deductions would be made from payrolls in return for stock in new enterprises. In effect, the development bank would operate like an investment trust in the U.S., diffusing stock ownership over the maximum number of depositors and eliminating the risk of a bad investment that might wipe out a single...
...country, instead proposed that investors form a multi-nation investment association in much the same manner that six individual contracting companies joined together to build the Hoover Dam. Such pooling, said Industrialist Beitz, would provide "a great new source of investment capital." It would be a private world bank that would receive and that would lend local currencies for investment anywhere in the world...
Many a surgeon dreams of the day when, like the mechanic faced with a worn-out fuel pump, he will be able to dip into a bank of human spare parts and fix up his patient with a replacement for.an ailing organ−even one so vital to life as a kidney or the heart itself. So far, apart from the difficulty of obtaining such spare organs, two obstacles have seemed insuperable: 1) the surgical difficulties of making all the necessary blood-vessel connections in time, and 2) the immune reaction which causes a recipient to manufacture antibodies that destroy...
...there is in Moscow and Leningrad a cultural underground where a few painters are furtively turning out forbidden abstractions and showing them clandestinely among themselves. Last week the first examples of this art, ten paintings by a necessarily anonymous Russian artist, were put on exhibition in Paris' Right Bank Galerie Daniel Cordier...