Word: loans
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Dates: during 1920-1929
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These early troubles surmounted, Mr. Mitchell enjoyed many a successful year, during which, under his presidency. Na- tional City Bank became first a billion dollar, then a two billion dollar, institution. Within the past year, through its merger with Farmers' Loan and Trust (TIME, April 8) and the all-but-ratified merger with Corn Exchange Bank (TIME, Sept. 30) the Bank reiterated its position as greatest U. S. bank, became greatest world bank. Now Mr. Mitchell, who used to say that he was too poor to eat at Child's, instead, for reputation's sake, fed at expensive hotels, could...
...That corporations which had loaned money "on call" to speculators had contributed more than any other group to an unsound financial situation because many a corporation promptly called in its loan at the first sign of trouble. Five directors of one corporation threatened to resign last week if their company should call its loan. These directors took the honorable position that having once loaned its money to the stockmarket, the corporation should stand by the market so long as its loan was adequately protected by collateral...
...point with constantly increasing pride as the University of Buffalo. Not many members of the country club are alumni of the University. But in the past decade the University had increasingly entered the country club's consciousness, through the good offices of that potent Cornell alumnus-trustee, liberty-loan driver, reparations expert, friend of Owen D. Young, "double" of Governor Roosevelt, lawyer (Kenefick, Cooke, Mitchell & Bass) and banker (Marine Trust)-Walter Platt Cooke...
...Extract, O'Sullivan's, Peter's Chocolate), of which he is now chairman. It is why the late Henry P. Davison called him, in 1903, to be secretary-treasurer of the Bankers Trust (Lament: "All my business life I have been borrowing money. I don't know how to loan it." Davison: "That's why we want you. We want a man who knows how the borrower feels and looks."); why George F. Baker summoned him five years later, to be vice president and director of the First National Bank, succeeding the same Davison; why J. P. Morgan gave...
...financing of the New York Central Railroad and he is today the firm's chief railroad adviser. To him came most of the overseas muddles into which its vast foreign interests plunged the Morgan house. In China (the Consortium), Mexico (International Committee), France (Anglo-French $500,000,000 loan), Austria (1923 joint loan), he has been at one time or another the most important financial factor. When these and many another nation gather together, as at Versailles in 1919 and at Paris in 1929, Mr. Lamont is summoned to speak for U. S. finance. He himself considers his work...