Word: banker
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Dates: during 1960-1969
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...million offering to be sold later in the month, and National Biscuit Co. also announced a $30 million issue. Underwriters predict that U.S. companies will soon announce plans to sell as much as another $200 million worth. "People have been flabbergasted by the volume," says Zurich Banker Hans...
Pittsburgh Banker Richard Mellon, called on Saunders in Roanoke to of fer him the opportunity of running the nation's largest railroad. Saunders accepted without hesitation. When he moved to Philadelphia, he took along a cadre of N. & W. executives who are still known around headquarters as the "Virginia Mafia." Before long the Mafiosi had eased 550 oldtimers into retirement. Almost nothing about the Pennsy remained untouched. Saunders, who collects cookbooks as a hobby, even hired a new chef for the executive dining room, ordered him not to serve diet lunches...
...called "special drawing rights." There is one big hangup: these "S.D.R.s" will probably not be activated until the U.S. and Britain markedly reduce their balance of payments deficits. But it is quite possible that by 1975 the S.D.R.s will increase the world's reserves by 25%. Says German Banker Hermann Abs approvingly: "It's like putting a paper tiger in your bank...
There is no cheap or easy way for America to solve its deficits dilemma. No matter how it tinkers with the golden rules, it ultimately will have to achieve what the bankers call equilibrium-which is to say, a surplus or deficit of not much more than $1 billion yearly. As soon as it does that, the gold problem will disappear. "Then," says Germany's top banker, Emminger, "the U.S. can do whatever it wishes about the gold price. Then everyone, or almost everyone, will be quite content to hold onto his dollars. There is no advantage in holding...
...auction record for an impressionist painting (TIME, Dec. 8), the rumor spread that the buyer was the Metropolitan. Making it official, President Arthur A. Houghton Jr. announced that the Monet had indeed been bought for the Met, by "a small group of intimate friends," presumably including Houghton and Investment Banker Robert Lehman...