Word: bankes
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Dates: during 1930-1939
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Round No. 2 amounted to an about face in the Treasury's recent credit policies, which helped bring on the Depression. A year ago when Government's prime concern was not Depression but a runaway boom, the Federal Reserve Board boosted bank reserve requirements. This cut down the total of potential credit in the form of excess bank reserves and made money a little more expensive to borrow. Last week the President told Congress it was now time to lower reserve requirements-which the Reserve Board did forthwith. Net effect of lowering reserve requirements was to increase excess...
...Imperial Bank of Iran, set back from the street, needed an entire square. Slowly rising to completion is an Imperial Opera House to cater to the hitherto undiscovered musical tastes of Iran's citizens...
...part of the recovery plan into effect. Those items in the President's program which needed no further Congressional approval last week included such highly technical inflationary devices as desterilizing the $1,392,000,000 gold the Treasury has been hoarding for over a year and lowering bank reserve requirements. Closer to home so far as the average businessman is concerned were two other changes in policy: 1) to help small enterprises float security issues, SEC eased registration requirements for issues of $100,000 or less, reduced the amount of information necessary in small registrations; 2) to aid businesses...
Guaranty's Case, With the aplomb of a man at the head of the third largest U. S. bank, Guaranty Chairman William Chapman Potter's affidavit retorts: "I resent these allegations in the complaint and in Mr. Young's affidavit and brand them as utterly false. The Guaranty Trust Co. has repeatedly told Mr. Young and his representatives that ... the only desire of the Guaranty Trust Co. was to protect the interests of the bondholders of Alleghany Corp., for whom it is trustee." Reason Guaranty is acting now, though it never did so while the Vans were...
Amadeo Peter Giannini of San Francisco sits on top of a great banking pile. His Bank of America has 492 branches in California. Mr. Giannini also controls some 60 other banks and branches in other Western States. His Transamerica Corp., bank holding company now being renovated as an investment trust, controls Occidental Life Insurance Co. of Los Angeles. In June 1936 at a court receiver's sale Occidental bought Federal Reserve Life Insurance Co. of Kansas City and last year acquired Guaranty Life Insurance Co. of Davenport, Iowa. Last month Occidental started negotiating with Sears, Roebuck...