Word: charterers
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Dates: during 1960-1969
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...Downs. From the start, the bank lived up to the letter of its charter requirement to make loans only if there was a "reasonable" chance of repayment. It grew from an initial lending capacity of $11 million to today's $7 billion. After World War II, when the Marshall Plan took over the rebuilding of Europe, Ex-Im concentrated on Latin America. Of the $7.3 billion it has lent so far, $2.6 billion has gone to Latin America-more than to any other region of the world, and far more than the total $430 million lent to Latin America...
...Charter Stretcher. Ex-Im's current president is Samuel Clark Waugh, 70, a Lincoln, Neb. banker who took over in 1955. Under Waugh, loans last year hit a record $535.9 million. Waugh has stretched his charter a bit to keep Ex-Im operations flexible. Sample: massive stabilization loans ($100 million to Mexico, $25 million to Chile) are not meant to be spent but to give a psychological lift to a currency threatened by inflation or devaluation. But further than that Waugh will not go, or even look. "I'm a lender, not a giver," he says...
...Manley Ottmer Hudson, 73, Harvard's longtime (1923-54) Bemis Professor of International Law, and a judge of the Permanent Court of International Justice from 1936 to 1945, who in 1944 set forth principles of world law that were later watered down and incorporated in the United Nations charter; after a long illness; in Cambridge, Mass...
...Toll. P. & O. began operations in 1837 with two small paddle steamers and an Admiralty charter to carry the rhails to Spain and Portugal, soon extended its routes beyond the Iberian Peninsula to India and the Orient. When World War I began, the company laid plans for expansion to meet the expected shipping shortage at war's end. Though the Admiralty took over P. & O.'s fleet, the company bought up seven of its competitors, by 1919 controlled half a million more tons of shipping than when the war broke out -though most of its own ships...
...back was a far cry from a final determination. The indictment against him was dismissed on technical grounds by Judge Gerald Patrick Culkin, a second-generation Tammany wheelhorse. The indictment, ruled Judge Culkin, was defective because, under New York law, the conspiracy charge should have been separated from the charter violation charges; moreover, the indictment did not specifically state that Jack was aware of Ungar's business with the city when he accepted the "loan...