Word: mcgarrah
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Dates: during 1930-1939
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...this grey table lay fresh and crisp last week the second annual report of BIZ or Bank für Internationalen Zahlungsausgleich, famed in English as BIS (Bank for International Settlements), in French as Bri (Banque des Reglements International-). When he stood up to report, Manhattan Banker Gates W. McGarrah, President of BIZ was seen to have eased his substantial midriff by undoing as usual the two bottom buttons of his vest. What President McGarrah had to do was to report a notable BIZ success and issue to the world an ominous warning which he hoped would produce action...
...Thereupon German payments ceased and BIZ would have had to shut up shop had it been only or mainly the cash register of Reparations. Instead BIZ has never been busier than at present and is today the World Bank. In softly burring Scotch last week BIZ President McGarrah announced a BIZ profit of 15,182,819 Swiss francs ($2.930,000) or 4,000,000 Swiss francs ($772,000) more than last year...
...Gates W. McGarrah...
...Basle Mr. Wiggin went into conference with B. I. S. President Gates W. McGarrah, emerged and was immediately elected President of the Committee. France had an able champion to tilt against him. Her delegate was canny Emile Moreau, onetime Governor of the Bank of France...
Banker John Pierpont Morgan was in Paris, on his way to a boating trip in the Mediterranean with his good friend the Archbishop of Canterbury. A Morgan Partner who had been in Madrid hurried to the meeting; so did Gates W. McGarrah, president of the Bank for International Settlements. King Alfonso went to Paris too, officially to break his journey to Madrid. Three days later came the announcement: an international credit of $60,000,000 for the Spanish Government had been established. J. P. Morgan & Co. and associates (Chase National Bank; Bankers Trust Co.; National City Bank; Guaranty Trust...