Word: chases
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Dates: during 1960-1969
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...money matters, was simply a follower. It was reacting to an earlier drop from 6% to 51% in the prime rate-the interest rate that commercial banks charge blue-chip customers. The Board's decision was less a tribute to Lyndon than an acknowledgment of sorts to Chase Manhattan Bank President David Rockefeller, the first banker to lower the prime rate, and the man who held fast to his decision despite opposition from competitors...
With a sigh of relief, moneymen from Wall Street to Main Street heard last week that President Johnson had appointed William McChesney Martin, 60, to his fifth four-year term as chairman of the Federal Reserve Board. "This bank is delighted," said a Chase Manhattan senior vice president. So was First National City, whose president, George S. Moore, said of Martin: "This is a time when his experience is needed." No less enthusiastic were foreign bankers, who also see Martin as a staunch defender of the sound dollar that is so necessary to their economic wellbeing...
...mundane assignments. They not only patrol plants for corporations but also undertake security checks or theft investigations inside the gates. Other agents, in a longtime arrangement with the Jewelers' Security Alliance, investigate jewel thefts and losses; under an agreement with Eastern race tracks, the Pinks guard thoroughbreds and chase away bookies and purse snatchers. Uniformed Pinkerton men stand watch at annual corporate meetings, and have been known to haul obstreperous stockholders out bodily on orders from the chair. The company turns down divorce cases, but its plainclothesmen will track missing persons, check out insurance frauds or, in white...
...Capitol Hill, it received some good news from the private sector. On Wednesday, New York's Morgan Guaranty Trust Co. reduced the prime interest rate that it charges its best business customers from 5¾% to 5½%. Coming almost two months to the clay since the Chase Manhattan set off a controversy by cutting its prime rate to the same level, Morgan's action is expected to be followed by most of the country's commercial banks. Their action, it is hoped, will accelerate the drop in home-mortgage interest rates and give homebuilding a boost...
...tales in Tales of Manhattan are based on events in the firm of Arnold & Degener, 1 Chase Manhattan Plaza. The fictional partnership that handles this work could be called Maupassant, Maugham, Cozzens & Auchincloss. This firm is choosy about cases; any messy divorce work is discreetly referred to O'Hara, O'Hara, O'Hara & O'Hara, 10 North Frederick Street, Gibbsville...