Word: bankes
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Dates: during 1930-1939
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...Your Index is of particular interest to me since I have for a number of years made a study of bank figures in attempting to analyze the business trend. I should like to congratulate you on this valuable addition to your Business & Finance section of TIME...
...Skinner Theory is based on the fact that, before a car is bought, a truckload of goods is shipped, a bridge built, money usually changes hands. Working from weekly bank statements, Mr. Skinner has evolved a number of formulas for watching this financial ebb & flow as it relates to various factors such as stock prices, bond prices, commodity prices, etc. TIME applies this same method not as a measure of business volume but of business' financial soundness-i.e., an Index of Business Conditions. The resulting Index differs radically from the several specialized indexes Mr. Skinner has developed...
Specialists in the analysis of bank figures for the purpose of determining business trends are Townsend-Skinner and Co. Inc. In collaboration with them, the TIME Index of Business Conditions was worked out on these principles.* The final weighted average of accounting ratios is based on no assumed "normal." adjusted to no economists' idea of "long term trend." It is, in effect, simply a report on how sound business was last week, a subject which TIME considers news...
Scheming, ambitious third son of a Dutch sailor, Hendrik August Wilhelm Deterding quit his job in an Amsterdam bank at 22 to seek his fortune with The Netherlands Trading Society in the East Indies. He quit the Society to seek his fortune with a man named J. B. A. Kessler, who was director of a little company with a big name: The Royal Dutch Company for the Working of Petroleum Wells in the Dutch East Indies. When Kessler died in 1900, Royal Dutch had wells all over the Dutch East Indies and markets all over the East. Deterding succeeded...
Both Isaac Cubitt Raymond Atkin and William Arthur Mitchell got their start with the Traders Bank of Canada as junior clerks (i.e., office boys with standing). Both stayed with the bank when it was merged with the Royal Bank of Canada; both became inspectors. In 1925, when J. P. Morgan needed two good commercial bankers, both were hired. Both went to live in New Jersey, to play golf together on week ends. In 1931 both were upped to the newly created title of manager. Both gained prestige when Morgan gave up underwriting and concentrated on commercial banking...