Word: banke
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Dates: during 1960-1969
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Connor points out that U.S. businessmen have repatriated about $500 million that they previously held abroad, financed much of their overseas expansion by borrowing heavily from foreign banks. Still, Connor's program, which covers 500 major corporations, has been less successful than the Federal Reserve Board's program covering bank lending abroad. The banks have been flatly told not to increase their foreign loans by more than 5%, and they have kept within that limit; last week, at the annual meeting of the American Bankers Association in Chicago, many bankers complained that too much pressure was being...
...Bind. While constricting the flow of money abroad, the Administration is most anxious not to let money tighten too much at home. The U.S. supply of money has already begun to tighten, largely because of the record demand for credit. Bank loans have risen 16% this year to a total $48 billion; corporate loans and consumer credit are each rising by about $1 billion a month. Worried about the possibility of inflation, the Federal Reserve Board has contributed to the tightening simply by not adding enough to the money supply to keep up with loan demand. The board...
Bankers were aggrieved that they could not up all rates, yet relieved that the Government apparently will not muscle down the selective raises they have recently posted. After Manhattan's Chemical Bank two weeks ago increased its rates on loans to finance companies from 4½% to 4¾%, other major banks followed. Last week the world's largest lender, California's Bank of America, said that it has been selectively increasing rates to many borrowers, and the Chase Manhattan announced that it will pare down the number of customers eligible for the prime rate. But borrowing...
This week two subsidiaries of Brazilian Traction Light & Power Co. will sign a $40 million loan agreement with the U.S. Agency for International Development as the first step in a fiveyear, $228 million program to double their service. The Inter-American Development Bank and ADELA (Atlantic Community Development Group for Latin America), a private, multinational investment group that has invested $12.7 million in Latin America, have just joined with Brazilian Millionaire...
...March morning in 1900, a small boy crouched along the bank of Ohio's Scioto River, sighted down the barrel of his BB gun, and sent a pellet smashing into the brain of a big red-breasted, blue-backed bird. It was the last wild passenger pigeon ever to be sighted. In this indignant, touching book, Allan W. Eckert, author of The Great Auk, details the wanton greed that extinguished this remarkable species and imagines a biography for the last wild survivor that died that morning on the Scioto...