Word: banke
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Dates: during 1960-1969
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Last month Curtis negotiated the sale of 110,000 acres of mineral-rich Canadian land, as well as 141,000 acres of Pennsylvania forest, to Texas Gulf Sulphur. The transaction should bring in some $24 million, which could wipe out most of Curtis' $28 million bank debt -down from $36 million after the sale of Curtis' Lock Haven, Pa., paper mill earlier this year. "We are over the hill," says the vice chairman of Boston's First National Bank, Serge Semenenko, the financier who put together a $35 million loan for Curtis in 1963 and has been...
Customers Lost. Aware of this, Britain hopes to topple Rhodesia's Ian Smith with a sophisticated attack on the Rhodesian pound. The pound has been ordered to a kind of Commonwealth Coventry: Rhodesia's $60 million sterling account with the Bank of England has not been frozen, but new exchange controls prevent British businessmen from accepting Rhodesian pounds and force them to channel payments to Rhodesia into special accounts held up at the bank. The London capital market, on which Rhodesia's 2,700 tobacco farmers depend, has been barred to them. A nation whose economy...
...months ago, in return for help from U.S. and international banks, the government finally agreed to try a little austerity-namely, to hold down wages and straighten out its finances. That only brought new clamors for wage increases, the most spectacular of which was a demand for a 48% boost by bank employees. When the government said no, the leftist National Confederation of Workers-500,000 in all-joined in a crippling general strike that forced the country's ruling nine-man National Council to declare a state of siege, which was not lifted until early this month...
...paid a price. Though the clash did not wipe out the good will that Johnson has accumulated among businessmen-partly because the President carefully stayed behind the scenes-that old feeling will never be quite the same again. Even before the aluminum industry backed down, Chase Manhattan Bank President David Rockefeller warned: "We are in danger of backing inadvertently into a managed economy; this is not the high road to the good life." After the backdown, many businessmen expressed disappointment and chagrin. Even on Johnson's own staff, there were grumblings...
...administrative personnel moving into Massachusetts Hall will be the staff of James R. Reynolds '23, assistant to the President for Development. Only half of Reynolds' staff, and Reynolds himself, is currently working in Massachusetts Hall. The other half is working on the fourth floor of the Reliance Bank building on Dunster...