Word: bankes
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Dates: during 1920-1929
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...Banks. Stockholders of the Chase National Bank voted to absorb the Mutual Bank in Manhattan. Mutual stockholders had already agreed. The transaction gives Chase National and its affiliated Chase Securities Corp. capital, surplus & undivided profits of more than $134,000,000. The Mutual bank office becomes Chase's 21st branch in New York City. (Chase also has three foreign branches...
Less momentous were last week's negotiations for the Seaboard National Bank to absorb the New Netherlands Bank in Manhattan. Seaboard, which does a large domestic and foreign business, has been rapidly expanding. Recently it raised its capital from $6,000,000 to $8,000,000. Its surplus and undivided profits are $12,000,000. New Netherlands will bring $600,000 additional to its capital...
...from comparatively obscure Minnesota to be Board governor, Mr. Young had said: "I consider it a great compliment the President of the United States has paid me. I hope he will never regret the confidence he has placed in me." When asked to what he attributed his rise from bank messenger to Governor of the Federal Reserve Bank in Minneapolis and higher, during 27 years, he had answered laconically: "Observation and hard work." That was platitudinous...
After a businessman ships a batch of goods, he frequently needs cash. He goes to his bank with documents showing that he has shipped the goods and that he will be paid a certain sum on a certain date. If his commercial credit is good and if the credit of the buyer is good, the bank will discount his "paper." Such "paper" is a "trade acceptance." U. S. banks at present have between $800,000,000 and $900,000,000 worth of trade acceptances representing domestic commercial transactions. They have even more-$975,000,000-representing international business...
...Chicago Stock Exchange seat was sold last week for $16,500, the local record. The exchange will move into its new rooms in the State Bank of Chicago building next spring...