Word: bankes
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Dates: during 1930-1939
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...communicative a mood, reporters plied him with questions. Would he eliminate holding companies? Yes. Would he eliminate first-degree holding companies-those directly over operating companies? Yes, he would. Would he apply that philosophy to all industries? Yes, why have any holding companies at all? Take banks. There are good illustrations of holding companies in the financial field. Why can't a bank run itself...
...service for the New Deal began as general counsel for RFC, having been hired away from the Farm Board to serve Jesse Jones in 1932. When, working with RFC's staff of 75 lawyers as many as 18 hours a day during the bank holiday, he managed to keep abreast of the tremendous legal complexities involved in demands for RFC help from thousands of banks in 48 States, Attorney General Cummings was impressed. When New Dealer Cummings borrowed Lawyer Reed to conduct the Government's successful defense of a collateral gold clause case before the Supreme Court...
Addressing their stockholders last week the chairmen of the two biggest banks of the U. S. both saw fit to make pointed references to one poignant topic. Said Chairman Winthrop Aldrich of Manhattan's Chase National Bank: "Since 1933 the volume of new issues, and especially of stocks, has been a fraction of what it ought to be, and, indeed, of what it was in our last normal financial year, 1923, or 14 years...
Said Chairman James H. Perkins of Manhattan's National City Bank: "I know of no corporation of size in the country that could put out an issue of common stock today with any hope of successful flotation unless offered below its fair value. If we can determine correctly why this is so we shall have diagnosed our economic problem...
...Bethlehem Steel debentures) could be sold only at a loss of about $1,725,000 to the underwriters (TiME, Oct. 18). Since then by conservative estimate $150,000,000 in new financing has been held back in hope of a better market. Last week, just as bank officials were bemoaning the situation, came evidence that a better market-not perhaps for common stock but at least for bonds-might...