Word: bankes
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Dates: during 1930-1939
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...appointment of the first dollar-a-year-men of World War II. They were three bankers: able, affable Tom K. Smith, 57, of St. Louis, a distinguished veteran of the Liberty Loan campaigns in 1917-19, who in 1939 is to be "a sort of coordinator of all banking problems for the Treasury"; Warren Randolph Burgess, 50, of Manhattan's National City Bank, a military statistician during World War I, recalled to duty last week as an expert on Government financing; shining-eyed Earle Bailie, 48, of J. W. Seligman & Co., drafted to gauge war's effects...
...were booming. The basis for this boom, as for better stock prices, was the calculation of the funds which foreign Governments have for purchases in the U. S. Belligerents who have defaulted on U. S. loans cannot borrow in the U. S. in ordinary ways, but the Export-Import Bank has funds that it can lend to exporters of U. S. products. Last week RFC announced it would be glad to help...
...before they need to borrow in the U. S. foreign purchasers can spend their existing U. S. credits. Last week Government estimates revealed that foreign investments (roughly 50% British, Canadian and French) amount to some $8,300,000,000. This includes $2,600,000,000 in bank deposits and short term credits; $4,000,000,000 in marketable securities; $1,700,000,000 in direct investments. By taking over the holdings of their nations, belligerent Governments will thus have over $4,000,000,000 for war purchases. In addition Britain is believed to have a gold reserve of approximately...
...Chairman Jerome Frank's suggestion for a brokerage bank for customers' cash and free securities, a special Stock Exchange Board turned thumbs down. Its alternative: a 14-point program for completion of the Exchange's extensive self-policing policy...
...Nihon Kogyo Kabushiki Kaisha (Nippon Mining Co., Ltd.). The deal: $756,700 cash; two payments of $756,700 within 30 and 60 days respectively; $4,542,000 payable by Aug. 31, 1942; $1,362,500 payable by Aug. 31, 1943. All deferred payments were guaranteed by the Yokohama Specie Bank, Ltd., New York City, with interest at 4%. To President Henry-whose late client Jacob Sloat Fassett (onetime Congressman and Republican leader of New York's Senate) was a backer of Promoter Hunt -this deal seemed fair enough. It looked timely to most of Oriental Consolidated...