Word: bankes
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Dates: during 1920-1929
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...forecasting of future business conditions, there are major and minor prophets. Arthur Reynolds, President of the Continental and Commercial Bank of Chicago, is one of the major prophets. Very rarely has he made specific and unequivocal predictions in the past, but when he has, his prophecies have almost invariably come true...
...attempt to answer this question, Mr. Walter Leaf, famed Greek-scholar and chairman of the Westminster Bank, dropped something of a bombshell into the discussion. In order to attract capital to London-a necessary preliminary to removing the British restrictions on the export of gold-Mr. Leaf advocates an increase in the Bank of England rediscount rate from...
...already developed railroad, utility and industrial corporations whose resources have passed the billion-dollar mark, but, except temporarily, no American bank has until recently broken into the "billion-dollar class." Now, however, the National City Bank of New York, with resources of $1,027,000,000 in June 1924, has entered this field alone among our banking institutions...
...time during the 1919-20 boom the National City was a "billion-dollar bank." In June, 1920, in fact, its resources had climbed to $1,077,000,000. Yet at that time all 'banking was obviously suffering from inflation. Four years ago, when the National City established this record, its deposits amounted to $799,000,000 and it owed $83,000,000 to the Federal Reserve. Now its deposits stand at $843,000,000 and it owes the Reserve Bank nothing. The increase has therefore come mainly from the bank's own assets...
President Charles E. Mitchell, when interviewed, proved gratified but cautious in predictions. "It does not necessarily mean that the bank's assets will stay constantly above the billion-dollar mark," he stated, "for a bank's resources advance and decline just as figures of car loadings or of steel tonnage rise and fall from month to month ... it tends to show that today this country's banks are in better shape than ever before to carry on the financial work that they, as banks, are expected...