Word: helm
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Dates: during 1950-1959
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...year ago, when Nehru talked of stepping down from office because he was getting "flat and stale" and querulous, his ruling Congress Party begged him to remain at the helm. Congressmen cried: "Panditji, you are leaving us orphans!" and Nehru had consented to remain in office. Leaving this emotional scene, one Congressman, who had joined in the sycophantic clamor, said to another: "The farce is over. Let's go home and laugh...
Whatever the faults of world leadership may have been, we now have "scientific fanatics" at the helm, with the fiendish ambition to propel humans into outer space...
...Banker Harold Holmes Helm, 58, expansion-minded chairman of Manhattan's Chemical Corn Exchange Bank, long had his "loving eye" on the New York Trust Co. He knew that a minority of New York Trust shareholders wanted to sell out if they could get a good price. New York Trust's big wholesale banking business (specializing in large industrial accounts) and its seven offices would nicely complement his own 94-office bank doing a largely retail banking business with smaller clients. Last week Helm proposed a merger, swapping 1¾ shares of Chemical Corn stock for one share...
Though shareholders of both banks (and regulatory agencies) must still approve. the merger is expected to go through in about five weeks. In pulling it off Helm will make the combined Chemical Bank New York Trust Co. (deposits of $3.8 billion) the third largest bank in New York, the fourth in the nation (after the Bank of America, $9.5 billion; New York's First National City. $6.8 billion; and Chase Manhattan. $6.4 billion...
...merger will be the second in the last five years, during which the bank's deposits have more than doubled. Kentucky-born Harold Helm went to work for the 135-year-old Chemical Bank in 1920 straight from Princeton, was made assistant cashier six years later at 25, one of the youngest men in the company's history in that job. Coolly efficient and able to turn on charm to convince a client or win over a potential ally. Helm became vice president in 1929, first vice president in 1946, president in 1947, finally took over as chairman...