Word: bank
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Dates: during 1960-1969
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...Loye Miller who dug into the soil of Mills's Arkansas, who interviewed Mills's family and friends, looked over the Mills store, house and bank, and provided most of the biographical material. Miller's last cover assignment was closer to home: gathering material for the Harry Byrd cover. Both reporters are second-generation journalists: MacNeil's father was assistant managing editor of the New York Times, Miller's the editor of the Knoxville News-Sentinel...
...father was one of the most prosperous men in town, owner of a busy country store that sold everything from horehound drops to horse collars. (Mills's mother, 77, still helps run the store.) Later on, Ardra Mills acquired a cotton gin and an interest in the local bank. Wilbur worked in the store during his boyhood, but early in life he was struck with awed admiration of William A. Oldfield, the bouncy, genial Congressman from the district. In his travels around his constituency, Oldfield frequently visited Kensett and stopped at the Mills store. "I was talking about running...
...World Bank is no charity. When it makes a development loan, it expects the applicant to show that his project is well conceived and that his credit is good. The bank expects to make a modest profit on its international loans, and tends its business so shrewdly that in 16 years of lending it has not suffered a default. Last year the bank opened its vaults for $646 million in loans to 19 countries. Who got most of the money? Not Africa or Asia. Latin America...
...Asia received $78 million from the bank, plus $163 million from its affiliate, the International Development Association. But five Latin American countries got $328 million, 60% more than in 1961. Mexico received $30.5 million to build federal toll roads and bridges, $130 million for its massive electrification program. Before Argentina's military junta deposed President Arturo Frondizi last March, the bank came through with $95 million to expand electric power in Buenos Aires. Other loans: $50 million to Colombia and $4,000,000 to Panama for electric power, $18.5 million to Uruguay for highway development. From I.D.A...
...World Bank has few fears about its investments in Latin America, other investors have plenty. Political instability and chronic inflation have frightened U.S. investors to the point that in the first nine months of 1962 there was a $37 million net withdrawal of private U.S. capital v. a $144 million net inflow...