Word: bankes
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Dates: during 1920-1929
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With $500,000 surplus cash to put aside until it is needed, a corporation usually does one of two things. It may bury the money, either in gilt-edged securities, yielding from 3 to 4%, or in its bank account, where it draws 2% as a commercial deposit. Or it may ask the bank to lend the money out on call, at interest rates ranging from 5 to 10%. As the bank asks only a small commission for this service and generally assumes all the risk, the conversion of surpluses into call loans has become a popular feature of corporation...
Last week, Gov. Strong was again in Europe. And his Manhattan supporters noted with alarm that Chicago was showing distinct signs of insubordination, was even pretending to take the lead in the intricate business of money-juggling. Boldly, the Chicago Reserve Bank recalled its warnings of last fall, pointed to diminishing credit reserves and wild speculation, jumped its rediscount rate to 5% (TIME, July 23). Manhattan, accustomed to lead, was forced to follow. Chicago's press openly flayed the absent Gov. Strong; screechingly demanded his resignation...
Chicago obligingly furnished a list. It pointed to the offices of the Illinois Merchants Trust Co., where sat Minnesota-born Eugene Morgan Stevens, golfer, fisherman, bond expert, and New York-born Frederick Tudor Haskell, trained in Chicago banking for 55 years. It pointed to the "biggest" Continental & Commercial National Bank with its Brothers Reynolds, Arthur of the potent Armour meatpacking interests, and, George McClelland, who politely declined in 1909 to be Taft's Secretary of the Treasury. It pointed to big but smaller banks, to the Chicago Trust Co., from whose roster of vice presidents the U. S. Chamber...
...learned banking in a rough and ready school. The cashier of a small-town Texas bank in 1905 had to keep one eye on the cash, and the other on the door. It took a shrewd judge of men to handle the lanky Texans who ambled into the Citizens National Bank of Ballinger. And when this bank merged with its rival, the First National, and Melvin Traylor became president, he needed as much good banking sense to manage a capital of $200,000 as he needs today to direct a bank with resources of over...
...From bank to bank, from bar to bar, news of ousted Tilden spread. Even before EXTRAS appeared, groups of U. S. undergraduates were arguing bitterly about "a dirty rabbit-punch from back home/' The minority side of the argument was that "the young players were better off without Tilden bossing them around, anyway." Frenchmen, almost without exception, said that Tilden had been treated unfairly.*They had heard a rumor that Lacoste was going to write articles for American newspapers.† The Parisian mind could not bring itself to understand what writing had to do with tennis eligibility. Not since...