Word: credito
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Dates: during 1930-1939
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Recently $455,000 worth of undamaged bonds which the Jesuit fathers also sold to Mr. Quatrocchi for a song were restored to him by the State, which had confiscated them from the Jesuits' depository in Spain's Banco Espanol de Credito. Walking off last week with the $520,000 worth of property plus the $455,000 worth of bonds, Sculptor Quatrocchi provided living proof that the Socialist Spanish Revolution is now slipping rapidly into Fascist Catholic Reaction, with fiery, spellbinding War Minister Gil Robles slated for an increasingly dominant role...
...Officials of two trans-atlantic Italian lines refused to comment. Giuseppe Cosulich in New York said he had heard nothing about it. Rome despatches last week confirmed the rumors. A new company, Italian Lines, was formed with capital of 800,000,000 lire. Banca Commerciale took a 42% interest, Credito Maritime 40%; the remaining 18% was divided between the shipping companies...
...Italy things have a way of happening suddenly. At the beginning of last week there were the "big four" banks: Banca Nazionale di Credito, Credito Italiano, Banca di Roma, Banca Commerciale Italiana. Then one evening Italian businessmen picked up their evening papers, were startled to learn that the first two of these planned a merger, that directors would meet to ratify the terms within four days. Although the banks are said to have conceived of the idea all by themselves, admittedly "encouraging and advising" the merger was the Fascist Government which has promoted many an industrial consolidation...
After the merger operating economy will be attained by Credito Italiano undertaking all the regular commercial banking while Banca Nazionale will become a securities corporation, financing industrial undertaking. Although the means are unusual, the result will be the first introduction of U. S. banking structure to Italy. Vice president of each section will be Alberto Pirelli, onetime president of the International Chamber of Commerce and a prominent Italian utility tycoon...