Word: bankes
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Dates: during 1930-1939
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Every bigwig of London finance was there. Rich peers rubbed shoulders with richer bankers, richest merchants. Tall, stooped Chancellor of the Exchequer, Neville Chamberlain, stalked goutily in, followed by spry, fox-bearded Governor Montagu Collet Norman of the Bank of England. They had all come to the Mansion House, ornate official home of Lord Mayor Sir Percy Greenaway, to dine with him before he is succeeded Nov. 9 by the Lord Mayor-elect, Alderman Charles Henry Collett (TIME. Oct. 9). Speeches after the guests were full of noble viands and rare wines consisted of direct hits by Chancellor Chamberlain...
Prisoned in Germany by the Reichs-bank's embargo on exports of gold and foreign exchange are millions of marks owed to the Fatherland's foreign creditors, notably to such U. S. banks as Manhattan's Chase National. The only way the U. S. banks can move these "blocked marks" is to sell them at a discount in dollars (usually 15%) to tourists or merchants who need marks to spend in Germany, Last spring the North German Lloyd and Hamburg-American ("Hapag") Lines began to accept blocked marks in payment for passage. Passengers who paid in blocked...
...wrinkle which holders of numerous German corporate and municipal external bonds had to worry about last week. They were offered interest payment half in cash, half in scrip cashable at 50% of its face value, will thus receive 75% of the sums they are owed. To buy their scrip, banking syndicates will be formed in the creditor countries. The syndicates will resell the scrip at a small commission to the German Gold Discount Bank. This bank, having bought the scrip for a little more than half its face value, will sell to "preferred" (i. e. subsidized) German exporters...
Selected as vice-presidents of the Association were: Samuel A. Welldon '04, vice-president of the First National Bank of New York, Dr. Eugene H. Poole '95, professor of Clinical Surgery at the College of Physicians and Surgeons at Columbia. Henry C. Clark '11 was re-elected general secretary and treasurer...
...Before the turn of the year Deposit Insurance Corp., created by the National Banking Act of 1933, must plow through the books of the 14,000 banks that are expected to apply for participation in the deposit insurance plan (TIME, Sept. 18). D. I. C. will requisition all Federal Reserve and national bank examiners, is counting on the services of all U. S. clearing house examiners. Last week to supplement this army of examiners, D. I. C. asked the banks to loan it 2,500 smart credit...