Word: bankes
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Dates: during 1930-1939
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Because of the $3,300,000,000 Public Works expenditure, the Agricultural Adjustment Administration's domestic allotment operations, the Federal Deposit Insurance Corp.'s bank liquidations, said Director Douglas, "the national debt in the fiscal year 1934 will be substantially increased."* The amount of the increase Director Douglas was unable to predict because of "certain still undefined policies of the Government." Though he did not say so, this meant that U. S. citizens would wake up July 1, 1934 to find a fourth successive Treasury deficit behind them...
...Because the Chamber has voted down Cabinet after Cabinet rather than balance the budget (TIME. Oct. 30, et ante), gold was pouring out of France at the rate of 100,000,000 francs a day, in flight to London, Amsterdam, Geneva and even Berlin. The Deputies pointed to the Bank of France gold reserves of nearly 80 billion francs and contended that the drain of 100 million francs a day could continue for at least another month before becoming "dangerous." This would give time, they remarked, to construct more Cabinets and "find a real majority...
Leaving a directors' meeting of New York City's BMT (subway) in the Chase National Bank building, Herbert Bayard Swope (New York World) was trapped for 48 minutes in a stalled elevator. At his office in the Heckscher Building a few hours later Mr. Swope was locked in the washroom, rattled the doorknob until a secretary...
Gravy. In February 1931, Murray Witherbee Dodge was a vice president of Chase Securities Corp. and Albert Wiggin was chairman of Chase National Bank. Mr. Dodge sent a memorandum to Mr. Wiggin, said that Kuhn, Loeb & Co. might be brought in on Fox financing, added, "I am loath to do [this] unless necessary, as the splitup of the gravy would hurt my feelings." Faced last week, with this memo, Mr. Dodge at first claimed that by gravy he had meant prestige...
Chase Losses. Mr. Winthrop Williams Aldrich, now Chase chairman, sent an itemized list of his bank's investments in Fox Film and General Theatres Equipment. These figures showed a total investment of $89,330,047, now carried at $19,757,866. Loss to Chase...