Word: deposit
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...Juan's total 4,000 rooms were occupied, including the suburban motels and unpretentious rooming houses. Space was so tight in the top spots that prospective guests at the Rockefeller-owned Dorado Beach Hotel, where rates run to $75 per couple per day, were putting up a $300 deposit just for a reservation. The 160-room Flamboyan Hotel, which opened last week, is already booked through the season. And later this year, Philco, Gibson Refrigerator and the Disciples of Christ have scheduled conventions that will bring 18,000 visitors to Puerto Rico...
Power, prestige-and headaches. Its tourists and businessmen can convert their money around the world at favorable exchange rates, since nearly everybody wants dollars because of their stability and superior buying power. Many foreigners convert their own moneys into more secure dollars, then deposit the dollars in U.S. banks, where U.S. bankers invest them at a profit. On the other hand, the foreigners have the legal right at any time to cash in their dollar holdings for U.S. gold-and the U.S. thus has to maintain a multi-billion-dollar stock of gold, which earns no interest...
...after-midnight announcement last week was intended to catch businessmen unawares. When they rushed to their offices next morning they were met by troops and tanks at the factory gates; at the government-owned banks, some found their safe-deposit boxes had been opened and all hard currency found there replaced by Syrian pounds. But Syrian businessmen are every bit as canny as their socialist rulers. They had long feared the worst, and since March 1963 an estimated $1 billion has been smuggled out of the country to safety in Lebanon and Switzerland. With last week's repressive action...
Inland has built up a large deposit of good will in its area. Many little consumers, told by other steel companies to "call Inland" for their small orders, have grown larger-and stayed with Inland. By encouraging its executives to participate in civic affairs and all employees to take advantage of a corporate education program-half of its 30,000 employees do, at company expense-Inland has developed an excellent community image that impresses local customers. The company recognizes, of course, that it cannot meet its challenge from the East with good will alone. It is spending $125 million this...
...most valuable deposit in Switzerland's bulging banks is secrecy, which the Swiss have shrewdly used to lure shy money from all over the world. Any threat to this hush-hush, confessional quality is therefore a blow at the very center of the multibillion-dollar Swiss banking industry. By the same token, a nation or group that sets out to track down the wealth of teetering tyrants or the merely discreet rich frequently looks with frustration to the Swiss banks, with their anonymous sanctuary and numbered accounts. Last week secrecy and the desire for disclosure clashed in the Swiss...