Word: banke
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Dates: during 1960-1969
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...From Bank to Bonds. One reason that the lending market is slow is that banks are deliberately building up reserves after having practically loaned themselves out of money last fall. Another reason is that even with the prime rate reduced to 5½%, many a corporate customer has turned to the bond market to get money for such immediate needs as repaying bank loans and building cash on hand. Corporate bond issues last month reached a record $1.64 billion. Banks, as a result, have also turned to the bond market to keep their excess funds working. So far this year...
Shifting the Burden. David Rockefeller's Chase Manhattan bank, airing its views in its bimonthly "Business in Brief" bulletin, suggested that the nation make it "unmistakably clear that in a crisis" the U.S. would cease selling gold. Such a policy, the bank contended, would help shift to European countries "the burden of decision regarding the defense of the dollar"-a move that
Chase Manhattan implied might be a pretty sound idea. Two days later, President Rudolph A. Peterson of California's Bank of America went even fur ther. In a talk to the New York Chamber of Commerce, he argued that "as a last resort" the U.S. should refuse to sell gold if the gold drain becomes "intolerable." He added that "there is no overwhelming reason why we should sustain the dollar value of gold. We may have to reconsider our gold-buying policy...
...Henry Fowler, who said that European countries are inviting economic retaliation by their failure to help the U.S. end its balance-of-payments deficit. Last week, in a subtle move giving substance to that message, the U.S. offered to boost its dollar aid to poor countries through the World Bank only if an increased share of the bank's loans was used to buy U.S. products. Moreover, Washington insisted that the U.S. share of such "soft loan" largesse be trimmed from its present 42% to 40%. However unpopular abroad, such restrictions would minimize the strain foreign aid places...
McCulloch's town began inauspiciously enough in 1964, with 40 dwelling units, three miles of unpaved road, and a population of 160. Today, it has grown into a palm-dotted development of 550 homes and apartments, 54 miles of paved streets, 105 businesses including a bank, a shopping center, a pizza parlor, bowling alley and six restaurants, and a golf course. Though most of the carefully controlled architecture is uninspired, Wood added a Disneyland touch to the Lake Havasu Hotel by running a waterfall over its roof...