Word: depositing
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Dates: during 1960-1969
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Lebanon encouraged the influx of nervous money with a Swiss-like bank-secrecy law, low taxes and tariffs, complete absence of monetary controls (a freedom found today only in Lebanon and Canada). Spreading his investments farther than his sources of deposit, Bedas moved heavily into European real estate, began issuing traveler's checks, last year even joined New York's McDonnell & Co. in starting a mutual fund sold in the Middle East, Germany, Switzerland and Latin America. Despite the increasing complexity of Intra's operations, Bedas ran it as a one-man show, scoffed at bankers...
...Bank Deposit...
...bank's end was quick and clean. Despairing of achieving a successful merger, Slay went into a Wayne County circuit courtroom at 6:45 one evening last week. The judge declared Public insolvent, put it in receivership with the Government's Federal Deposit Insurance Corp. FDIC quickly moved to safe guard Public's depositors by selling Public to Commonwealth, and provided the new owner with a $10 million guarantee against any further bad debts owed to Public. Six hours later, at 12:45 a.m., McGuire was informed of the deal by telephone. At 2 a.m., Commonwealth officers...
...TALKING COMPUTER. Burroughs Corp. expects to market a computer next year that will read its answers aloud. Electric impulses will vibrate the membrane of a loudspeaker, forming words. One use: a bank customer can go to a drive-in window and deposit a check in the computerized system, which in one second or so will announce the amount of his balance...
Diners in Eliot, Winthrop, Kirkland, Lowell, and Leverett must sort out their silverware by knives, forks and spoons and deposit them in appropriate bins...