Word: banke
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Dates: during 1940-1949
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Last week, as it has to most businesses, the first strike came to a major U.S. bank, the Brooklyn Trust Co. What touched it off was the discharge of three employees who were members of C.I.O.'s left-wing Financial Employees Guild, which has been trying to organize the bank. (The union claimed that 65% of the employees got $35 a week or less, and even had to buy their own pencils.) As a starter, the union massed about 150 pickets-many from other unions-outside the bank's main office. A number of them got their heads...
Next day the union tried a novel picketing technique. Like many banks, the Brooklyn Trust's doors are adorned by brass handrails. Three women pickets-not bank employees-handcuffed themselves together and linked themselves as a human chain to the door rails, thus blocking the entrance. It took a patrolman with a hacksaw to cut the girls loose. At week's end, the bank said some 50 out of 800 employees were on strike and banking was going on as usual...
...prohibits railroads from granting loans, the railroads have lined up banks in every important U.S. city to finance the plan. Beginning Sept. 1, passengers will only have to step up to the nearest ticket office to apply for a travel credit covering the fare and such incidentals as hotel bills, clothing and sports equipment. Within 24 hours, if their local credit is good, they will receive their tickets. Interest on the loans will range from 4% to 7%, depending on the bank, will be less in slack travel seasons...
...took a lot of shoe leather and nervous energy," said World Bank President John J. McCloy, "but we're over the hurdle. Now we know we're a real honest-to-goodness bank...
...hurdle was the sale of the first issue of World Bank bonds, $250 million worth. They were quickly oversubscribed, thanks to more than 1,600 securities dealers, the biggest bond-selling network ever formed. Most of the buyers were insurance companies and banks attracted by the 2¼% and 3% interest. A few minutes after trading in the bonds began on the New York Stock Exchange, they were bid up from the par value (100) at which they were floated. The 2¼s, maturing in 1957, hit a high of 102, the 25-year 3s a high...