Word: frankfurts
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BANKS. They execute most of the orders for companies and also trade on their own account. An American tourist exchanges $100 for marks at a bank in Frankfurt; the bank can hold the dollars or sell them for other currencies, as it chooses. More important, a French cooperative, for example, deposits in Credit Lyonnais $1 million received from U.S. importers for Bordeaux wine; the bank can sell those dollars for other currencies if it wishes. Banks have a cold-blooded view of the potentialities. Says Jean Bourg, head of the currency department at Credit Lyonnais: "We take advantage of small...
...police raided an apartment stocked with guns, ammunition and 30 kg of explosives. They also found evidence that led to the arrests of Sylvia Herzinger, 33, and Leila Bocook, 25, both suspected of belonging to the Revolutionary Cell, a group responsible for a rash of bombings and arson in Frankfurt, Mainz and Wiesbaden...
...June, for example, a gunshop owner and his wife sat paralyzed with fright in a Frankfurt restaurant as Stoll and a woman companion dined at a nearby table. The witnesses were sure of their man: a year before, Stoll had knocked the gun dealer unconscious and had stolen 20 pistols from his store. Finally overcoming his fear, the dealer alerted the police, but when investigators arrived, Stoll had melted away in the crowd...
...second tallest building in the world, behind only Chicago's Sears Tower (1,454 ft.). To Germans, the 110-story double monolith looming over Lower Manhattan is a tongue twister: Das Welthandelzen-trum. The translation is of more than casual interest to the Deutsche Bank of Frankfurt, which in terms of assets (about $50 billion) ranks fourth in the world, after San Francisco's Bank of America, New York's Citibank and France's Caisse Nationale de Crēdit Agricole. The bank has approached the W.T.C.'s owner...
...important, the dollar has become grossly undervalued in terms of its purchasing power vs. that of other currencies, with the possible exception of the Japanese yen. One example: $100, when converted into German marks or Swiss francs, will rent a 'first-class hotel room for a night in Frankfurt or Geneva. In New York City a comparable room in a high-priced hotel costs about $70. In a rational market, the dollar might be expected to rise to reflect its purchasing power more closely...