Word: eca
(lookup in dictionary)
(lookup stats)
Dates: during 1940-1949
Sort By: most recent first
(reverse)
...title used loosely for such roving diplomats as the late Norman Davis and ECA's W. Averell Harriman, but never before submitted for senatorial confirmation...
...year ago the U.S. Congress volleyed and thundered for five months over EGA. Last week it barely managed a show of interest in ECA's $5½ billion bill for the next 15 months. Summoned to testify before the Senate Foreign Relations Committee, Secretary of State Dean Acheson waited for ten minutes before Chairman Tom Connally showed up, then waited ten minutes more for enough other committeemen to make a quorum. Finally Connally snapped at an attendant: "Go out and see if you can find any more Senators wandering around, and bring them...
...result, ECA nations will be able to save sizable sums which commercial banks had been collecting as service fees and interest charges. On the banking side, the big losers will be New York's Chase National Bank, Bankers Trust Co. and J. P. Morgan & Co., Inc., which have handled $439 million of the funds...
Bankers and foreign traders squawked, arguing that the plan was simply another step in a campaign to eliminate all private interests from ECA business. But ECA took the position that European aid was for Europeans and not for the bankers-and as much of it as possible should therefore go to Europe...
...path of two-way trade with Europe, which ECA hopes to smooth, was still rocky. When Cleveland's Municipal Light Plant opened bids last week for two new turbogenerators, Switzerland's Brown Boveri & Co., Ltd. was low by $500,000, Nevertheless, some city officials wanted to give the contract to a U.S. firm; they said they felt that replacement parts might be hard to get in event of war. Brown Boveri promptly pointed out that it could retaliate: it had bought more than $2,000,000 worth of U.S. equipment in the last ten months-more than...