Word: flows
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Dates: during 1930-1939
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Last week the little King, Supreme Arbiter of the Ebb & Flow of the Tide, Brother of the Moon, Half-Brother of the Sun, Possessor of the Four & Twenty Golden Umbrellas, stood at attention aboard a bedecked Siamese cruiser as it slid up to Bangkok's water front. Popping his stork neck under the traditional nine-tiered umbrella, symbol of regal power, King Ananda strode down the red-carpeted gangplank to greet the three royal Regents who have ruled in his absence. Strong Man Phya Phahol judiciously kept in the background. Along the city streets, as His Majesty jounced...
...egging banks to lend more. They cannot, say bankers, because industry just does not want to borrow, despite interest rates at record lows. Practically every other avenue to bank profits is similarly closed. Underwriting is forbidden, pinched volume on the stockmarket has reduced security and brokerage loans, the huge flow of gold, which has to be invested in short-term loans for liquidity, produces virtually no income (interest on 91-day Treasury bills, for example, is only .027%). The few big banks doing well today are those like Chicago's Continental Illinois National and New York's Manufacturers...
...psychology king, available for ideas on any subject. Though he met some opposition at first, he put over himself and his ideas with the same technique he uses on the public-a steady flow of booklets, memos and "Thought Starters" (little Aesop-like homilies pointing up sound sales morals) circulated within the organization. Pretty far down the line on GM's organizational chart, Buck Weaver gets only about $20,000 a year salary...
...will be each night. Last week as I. B. A. gathered for its annual convention at White Sulphur Springs, W. Va., the moon was only a thin sliver - an appropriate symbol for the investment banking business. Keynoted retiring President Frothingham: "Broadly speaking, there has for some time been no flow of new capital, the capital that employs men. From an average of $5,000,000,000 of new capital raised annually in 1924 to 1929, this has fallen to only $500,000,000, or to one-tenth...
Some of the basic reasons for these good tidings were visible in last week's figures on the flow of money. With gold still pouring in, U. S. stocks crossed $14,000,000,000 for the first time. With pump-priming going full blast, the 1938 Treasury deficit reached $979,000,000 against $449,000,000 for the same period last year...