Word: bankes
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Dates: during 1930-1939
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...Manhattan, Kuhn, Loeb & Co.'s Hugh Knowlton wound up a speech to the Financial Advertisers with a highly logical argument for future use. This smart, sharp-nosed young banker, who was trained in the law and got into finance by way of Paul Warburg's International Acceptance Bank, declared...
Ready for stockholders' approval last week was a plan by which Manhattan's Manufacturers Trust Co. will pay off $25,000,000 of notes now held by RFC. The bank will offer its present stockholders $25,000,000 worth of a new preferred stock in the ratio of three shares of new stock for each ten shares of old. A curious feature of this plan is that Jesse Holman Jones's RFC will carry any Manufacturers Trust stockholder who wants to subscribe to 100 shares or less on what amounts to a 10% margin. On listed stocks...
...Jones has nothing to lose by carrying this type of margin account in RFC. Even if he has to take over the stock he will stand all even. Instead of possessing Manufacturers Trust notes, he will hold Manufacturers Trust preferred stock, which the bank would have issued to RFC in the first place had not New York State banking law, since changed, required the use of notes...
...sweeping declaration of M. Blum that he will enact laws providing for, among other matters, a forty-hour week, collective labor agreements, paid holidays for workers, political amnesty, a public works program, nationalization of war industries, extension of compulsory education, reform of the Bank of France creation of a wheat board, etc., is one calculated to cause consternation in the hearts of most spectators. Not that most of these measures do not call for careful scrutiny and a few for action as soon as possible. It is rather fear engendered by thoughts as to how carefully and effectively the measures...
Take, for example, the case of the Bank of France. It is proposed that it will be reformed "to guarantee a preponderance of national interests in its management." This is one of those glowing generalities which can be interpreted to suit the individual taste. But the great question is how. Economists have long agreed that the Bank of France should be able to exert a stabilizing influence in national life, and should particularly have power to exert its influence through effective use of re-discount and open-market policies...