Word: bankes
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Dates: during 1930-1939
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...Government left a legacy of $187,000,000 owing to the U. S. The Soviet maintains that this is not its debt, also that it is not in default since it is one of the "claims" which Messrs. Hull & Troyanovsky are now trying to settle. But the Export-Import Bank created to finance trade with the Soviet took a different attitude. It passed a resolution: "It is the sense of the board of trustees of this corporation that no actual credit transactions with the Soviet Government shall be undertaken unless and until that Government shall submit to the President...
...eight months deposits at the Jones bank jumped from $18,390,000 to $23,623,000, and through sale of preferred stock to the RFC capital had increased from $1,000,000 to $3,500,000. But the American Banker discovered that instead of lending more freely in the best Jones manner, the Jones bank had substantially increased its cash and Government bond holdings until it was more than 80% liquid. Loans & discounts had actually decreased. The Jones bank was rock-sound but apparently it had found good borrowers as scarce as any non-Jones bank in the land...
...Jones's explanation: "I haven't anything to do with running the bank. I have been hammering at it as well as others to extend loans to business...
...During our village election just passed, I spent $457 in an effort to win the election. We had many loyal supporters, but with the propaganda spread by our opponents, along with the influence of the bank, we were unable to win, but we are not discouraged. We will beat them...
These two fast thawers of frozen credit politely refused to reveal their method of transferring marks out of Germany. All big banks with German connections know how to wangle marks into dollars, francs or pounds but the process (quite legal) is a deep trade secret and each bank has its own system. Highly involved, it usually entails purchasing marks at a big discount from holders of frozen credits, then selling the marks to people who are forced to buy or travel in Germany. But Messrs. Wreszynski & Norris will pay more for their marks than legitimate bankers, sometimes 2%, sometimes...