Word: bankes
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Dates: during 1930-1939
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...Washington last week the Federal Reserve Board estimated October production at 120 (1923-25 equals 100), up 18 points from August, nine points from September, 24 points from last October. In Manhattan the National City Bank compiled its quarterly summary of the earnings of 320 leading corporations: for July-August-September 1939, $201,000,000, against $104,000,000 a year earlier...
...each spoke a word about its soundness. Said the Federal Reserve with reserve: "Unless there is considerable increase in the absorption of goods, the accumulation of inventories now under way might reach significant proportions." The significance of "significant" was left to businessmen's imagination. Said the National City Bank: "Continued building up of inventories, through further forward buying, would prolong the boom but only defer the reckoning...
...award: the Vermilye Medal, named for Donor William Moorhead Vermilye, vice president of Manhattan's National City Bank. The first recipient: Lewis Herold Brown, handsome (see cut) young (45) president of big Johns-Manville Corp. (building materials, etc.). Until the presentation ceremony two weeks hence, the Institute will not reveal its bill of particulars in favor of Mr. Brown. It hardly needs to then...
...down payment of $1,200,000 and a balance of $2,300,000 to be financed later (probably by the U. S. Export-Import Bank), President Moore and Treasurer McCormack sold 14 of their old (19-21 years) Hog Island cargo ships to the Brazil Government. For Brazil it was a good deal. It stepped up her Government-owned Lloyd Brasileiro Line fleet to 62 ships, gave her urgently needed bottoms for carrying her coffee and raw materials overseas now that war has swept most belligerents' ships from the seas...
Sept. 22, 1914 was a dark day for the British Navy. Three cruisers, Hogue, Aboukir and Cressy, were patrolling off the Dogger Bank, near Ymuiden. High seas raged in the wake of a storm, forcing the cruisers' protecting screen of destroyers to scuttle for home. The Admiralty figured that if the sea was too rough for destroyers it was too rough for U-boats too, that the cruisers were therefore safe. That was a mistake. All three of the cruisers were torpedoed and sunk, with a loss of 60 officers and 1,400 men. Long afterward it was learned...