Word: cubans
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Dates: during 1930-1939
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...Havana five days prior. Senator Walsh had married Senora Mina Perez Chaumont de Truffin, a wealthy Cuban widow (TIME, March 6). For all his 73 years and a stiff back the grim, grey Montanan was feeling fine & fit for a short honeymoon. From Havana he flew with his plump bride, 20 years his junior, to Miami where he received official notification of his appointment to the Roosevelt Cabinet. He called at the hospital where Chicago's Mayor Cermak lay close to death. Going on to Daytona Beach Senator Walsh, an honest Dry, told newshawks that under him the Department...
...American independence days. Mexico celebrates each Sept. 16 her Grito de Dolores, recalling the cry to arms against Spain raised at Hidalgo Dolores in 1810 by "the Father of the Mexican Revolution," Priest Miguel Hidalgo & followers. Cuba's Grito de Baire, anniversary of the uprising against Spain by Cuban villagers at Baire in 1895, is Feb. 24. Last week Cubans observed it with memorable eruptions...
Landing in Havana just in time for the Grito last week, Owen D. Young basked in Cuban sunshine while government sources busily rumored that he brought these glad tidings: that Manhattan's Chase National bank was about to extend for another two years its $20,000,000 Public Works Loan to President Gerardo Machado's hard-pressed treasury...
...That through an issue of its own new stock in 1927 National City Co. bought $25,000,000 of stock in General Sugar Corp., boneyard of National City's Cuban sugar properties. With this cash General Sugar "bailed out" National City Bank's bad sugar loans. The Company has since written this investment down...
...bank safe for depositors. If the loans are never paid back, the bank's stockholders will suffer, not the depositors. Example: whether to "close out" a frozen loan at a loss or to attempt to quicken it back to life is a banker's daily problem. On Cuban Sugar, the bank decided wrongly. But again, no depositor suffered, for the very reason that the risk was transferred from the bank to security affiliate. And as for stockholders: the bank stock they secured in 1927 in exchange for $25,000,000 was selling higher than the price they paid...