Word: banke
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Dates: during 1960-1969
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...vitriolic state of Arab-Israeli relations, it was, in a way, remarkable that these secret meetings took place at all-and perhaps not surprising that they produced no results. The Israeli sessions with Hussein at first seemed promising. Hussein agreed to Israeli construction of defense settlements overlooking the West Bank of the Jordan River, as well as to a demilitarization of the West Bank area, but he rejected the idea of an Israeli cordon sanitaire along the West Bank. In turn, Israel accepted Hussein's demand that Palestinian refugees who fled the West Bank as a result...
...down. Excluding such special items as the sale of the LTV Tower in Dallas, profits in 1968 were off 18%, to $28 million; in the year's fourth quarter, they plunged 58%. In order to finance the takeover of J. & L., Ling had to negotiate short-term bank loans of $225 million; he has been meeting that obligation by selling off LTV assets, including part of its interest in Braniff Airways. Further sales of assets may be necessary to pay off LTV's total indebtedness of $900 million...
...real shock is the lack of shock," said Walter Hoadley, senior vice president and economist of the Bank of America. "People seem reconciled to it. Nowadays 71% only seems to confirm inflationitis." It also validates a growing concern that inflationary psychology may be every bit as disabling and difficult to cure as inflation itself...
Reluctant Step. One reason the rate increase caused so little commotion was that it had been anticipated in banking circles for weeks; the only question was which bank would start it. New York's Morgan Guaranty Trust Co. took the reluctant first step. The bank is, after all, well attuned to credit pressures. A leading corporate lender, it was one of the banks most severely squeezed in the "credit crunch" of 1966. This time, the Federal Reserve Board's policy of gradual "disinflation without deflation" has kept U.S. banks at some distance from anything like the 1966 crisis...
...million issue yielding 7.47%. New York's Consolidated Edison had to pay a record 7.9% on an issue of $80 million of construction bonds. Many treasurers are turning away from bonds altogether, reasoning that it is better to pay 9% or so for a two-year bank loan than to be committed to 71% or more on a 30-year bond...