Word: banke
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Dates: during 1940-1949
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...After it gets its president, the next job of the Bank will be to decide on how it will float the securities which are expected to supply a large part of the $8.8 billion which the Bank will raise for reconstruction loans. The Bank is not expected to lend directly from its own funds; it hasn't enough money. (Only $750,000 of the amount subscribed by 38 countries has been paid in so far.) So it can either buy foreign bonds-e.g., Czech bonds-and sell an equal amount of its own bonds to the world...
...Bank would like to sell its bonds both to private investors and banks, insurance companies, trust companies, etc. But it has already found that in the U.S., the principal market, many states have laws prohibiting the sale of such securities. The Bank hopes to have these laws changed. The Savings Bank Association of New York has already had the New York state law amended to permit savings banks to invest in World Bank securities...
...Filled. In a parlor of the Washington Hotel, the Stabilization Fund also held its first meeting last week. (Shortly, it will move into offices adjoining the bank.) First business was to elect Belgium's Camille Gutt (pronounced gut) the $30,000-a-year managing director -and half the Bank-Fund team. A small man with arched eyebrows and an engagingly informal manner, he has proved to be a financial wizard...
...Husbands, 55, director of RFC and wartime head of Defense Plant Corp., became executive vice president of Transamerica Corp., which owns the largest single stock interest in the nation's No. i & No. 3 banks (California's Bank of America and Manhattan's National City Bank). Transamerica has no president, so Sam Husbands will serve as its operating head. He will be responsible only to Board Chairman A. P. Giannini, who also runs Bank of America...
...winter and they were well off-temporarily, at least. In West Frankfort, Ill., near the world's largest mine, they stood three deep around the Egypt Café bar; miners' wives paraded into Pollock's Electrical Appliance Co. to order washers and refrigerators. The West Frankfort bank was fairly bursting with miners' deposits. Telephone installations were at an all-time peak and the "42" Cab Co. was doing a record business. Illinois miners had enough money, a United Mine Workers official figured, to stay out six months. From Pennsylvania came the same kind of reports. From...