Word: bankes
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Dates: during 1930-1939
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...financial and political empire of James Brown crumbled. The National Bank of Kentucky and the BancoKentucky Corporation were forced into liquidation. Mr. Brown, at that time, owned the Herald-Post and it, as a part of the Brown interests, was forced into receivership...
This was to be accomplished by the simple expedient of putting the Reserve Bank chairmanships on a "purely honorary basis." Net result in the first week was the laconic announcement that services of six of the ten present chairmen (there are two vacancies) would be "terminated" at the end of April. Presumably they found an "honorary basis" somewhat hollow. Two other chairmen- Atlanta's H. Warner Martin and Cleveland's E. S. Burke Jr. - apparently accepted the "honor." Another two were lucky...
Chairman John Jacob Thomas of the Kansas City Reserve Bank had already received his appointment at $20,000 per year. A 67-year-old Nebraska farmer-lawyer, he was a Roosevelt appointee to the old Reserve Board but was dropped when the new Board took office (TIME, Feb. 10). His retirement was not with out compensations, for he got only $12,000 in Washington...
...year. Kindly, spindly, 68-year-old Banker Gerry was governor until a fortnight ago, when he swapped jobs with John Newton Peyton, the chairman, who was 18 years his junior. Duly elected president, Banker Peyton met the Board's new requirement that a Reserve Bank president must be under 65 when elected, and not over 70 in any event...
...Everson, well-to-do San Francisco bachelor, he submitted his scheme for electronic television, no blueprints. When radio engineers assured Mr. Everson that the Farnsworth idea seemed feasible, he put up money for experiments, got addi tional backing from officials of San Fran cisco's Crocker First National Bank. Hard-working young Farnsworth twice threw equipment worth $25,000 out the window, started over again. Finally successful demonstrations were made at Phila delphia's Franklin Institute. Philco Radio &; Television Corp. bought U. S. rights (not exclusive) to manufacture Farns worth equipment, has lately started an experimental laboratory...