Word: centralized
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Dates: during 1920-1929
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Direction, Procedure, Powers. On these three points the Statute released last week merely confirmed earlier official announcements (TIME, Oct. 28). The Chairman of the Bank will be elected by a Board composed of representatives of the central banks and of Messrs. X and Y. Mere ownership of shares carries no voting rights. These rest permanently with the members of the Board "in proportion to the number of shares subscribed in each country" according to Article...
...yachtsmen, he is the able and enthusiastic skipper of the famed square-rigged yacht, Aloha. To many a rich old lady he is vice president of Phelps-Dodge Co. To flower fanciers he is known for the unique arrangement of his Park Avenue mansion: the bedrooms open on a central hothouse filled with orchids, whose perfume lulls to sleep and soothingly awakens the James household. But to railroad men, and to the general public, Arthur Curtiss James is the man who owns more railroad stocks than any one else in the country. Great are his holdings in the Great Northern?...
...James extension would join the Great Northern and the Western Pacific into a second, and in some ways much superior, through route. Said Mr. James last week to Commissioner Mahaffie and the 200 witnesses and participants in the case: "I saw in the transportation and industrial situation in central and northern California an opportunity to carry on a constructive work which would be of real value to the country, through the strengthening and expansion of the Western Pacific. Having come to this conclusion, I bought control of the Western Pacific. . . . I see in northern California an opportunity to play...
...shrewd and able executive is Victor M. Cutter, onetime timekeeper and now President of United Fruit Co. Most famed North-Central American enterprise, U. F. C. is the largest fruit shipper (97 steamships in the Great White Fleet), largest landowner (2,000,000 acres in Colombia, Costa Rica, Guatemala, Honduras, Panama, Canary Islands, Jamaica, Nicaragua, England, France, U. S.), largest U. S. banana importer (1928: 33,872,000 stems). Last year the Great White Fleet carried 72,000 passengers. On land, United Fruit Co. operates 2,300 miles of railway and tramway, owns herds of 30,000 cattle...
...smallest tax upon President Cutter's shrewdness has been the necessity, increasing year by year, of impressing upon sensitive Central Americans that the great U. F. C., industrially dominant, is also the personal and political friend of each and every Latin American republic. Accordingly, last January, he wrote and published Foreign Trade's Golden Rule, explaining the essential economic unity of U. F. C. and the countries in which it operates. Accordingly, last week, he was vexed to find a rift in at least one of U. F. C.'s golden unities...