Word: banke
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Dates: during 1960-1969
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...congregation in the small Methodist church in Harlem listens attentively as the special Sunday speaker approaches the end of his sermon. He tells them that the church needs money, and that they can help if they come to the Freedom National Bank and deposit their money there. The bank will use the accounts as collateral. Against this collateral it will issue the church fathers the mortgage on the church which they have been refused because of an alleged shortage of mortgage funds...
...Main Street." In Dodge City, Kans. (pop. 13,704), draft cards are not for burning. Among those voicing the community's almost unanimous support for President Johnson's policy: the president of a local Catholic college, an Episcopal minister, the editor of the town paper, a bank president, a county agent and some students...
Bucking other savings institutions, New York's Dime Savings Bank boosted its basic rates from 4½% to 5% , the city's highest passbook rate. That's gravy for savers, but borrowers stand to get their lumps. Manhattan commercial bankers are saying that it is high time for another increase in the "prime rate," now 5½% , from which all borrowing rates are scaled upward...
Price: Higher. The price of money is higher, of course. Last week New York's Chase Manhattan Bank, second largest in the nation, lifted its rates on auto and some other consumer loans. The charge on auto loans went up from 4¼% to 5¼%, but because the true size of the loan declines as the borrower pays off in installments, the actual interest is closer to 10½%. Some bankers have cut their customary kickbacks to auto dealers who steer loan customers to them from 1% to ½% of the to tal loan...
Once again, all good bankers have had to come to the aid of Britain's pound. After an emergency $3 billion international loan in 1964 (still not paid back), and another $1 billion res cue in 1965, the Bank for International Settlements and eleven countries last week had to renew the billion-dollar bundle for Britain. The pound, which two weeks ago had dropped to a 15-month low of $2.78 27/32, rallied to $2.79 2/32. But in the finance ministries and central banks of Europe and North America, money managers were asking: "How long, O Lord, how long...