Word: eccleses
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Eastern editors were mildly startled last week when they received a dispatch from Ogden, Utah, announcing the election of Marriner Stoddard Eccles as president of Amalgamated Sugar Co. Equally surprised were they to discover that all along he had been Amalgamated's vice president and treasurer. Remembering that the...
No credit to the financial knowledge of Eastern editors was their astonishment. Marriner Eccles was altogether too big a financial and industrial figure in the West to step completely out of its business scene when he moved to Washington. He not only had to run Eccles Investment Co., which manages...
Chairman Eccles can do nothing to stop the inflow of gold, but he can do several things about the effects of gold imports. One of them is the power to boost reserve requirement as much as 100%. Another is to sell the Reserve System's Government bonds, resulting in...
Interpreted as everything from a courageous demonstration of political independence to a smart New Deal bid for business votes, Chairman Eccles' decision was generally approved by bankers big & little. Excess reserves are pretty evenly distributed, but a few banks will feel the pressure of the Eccles brake and have...
Measured praise for Chairman Eccles and his Board was heard last week from none other than Montagu Collet Norman, foxy old governor of the Bank of England, who arrived in Manhattan for one of his hasty U. S. visits. Asked what he thought of the boost in reserve requirement, he...