Word: moneymen
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Dates: during 1960-1969
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...million. Using some $20 million of the proceeds, the company has whittled the debt down to $28.6 million, expects to pay the rest by year's end. Wall Street seems to see that as a sure sign of turnaround, and last week the company was huddling with Manhattan moneymen over plans to raise $50 million in new capital. The badly needed long-term deal would be used to bankroll new dealerships and build new models...
...balance of payments problem. When Britain was allowed to go ahead and tap that credit last month, it meant that the IMF was reasonably satisfied with the way in which Britain has pulled up its socks, economically speaking. Last week London received still another vote of confidence from international moneymen: central bankers from twelve industrial nations-agreed in Basel, Switzerland, to provide Britain with $2 billion in new standby credits for defending the pound...
...moneymen assembled last week in Basel, Switzerland, the 38th annual meeting of the Bank for International Settlements was the occasion for a somber review of the past year's dizzying dislocations in world finance. Last fall the pound was devalued. Four months later came the speculative attack on the dollar that resulted in abandonment of the London gold pool. More recently, France's upheaval put unexpected pressures on the franc. "You can't tell the difference between monetary crisis and noncrisis any more," concluded one official at Basel. "Now it's crisis all the time...
...over the protests of Kennedy and McCarthy supporters, virtually assuring Humphrey of all 49 votes. In a brief visit to New York City, Humphrey sat down to luncheon with a group of Wall Streeters, walked off with pledges of some $750,000 in campaign contributions. With backing from such moneymen as Sidney J. Weinberg of Goldman, Sachs & Co.; John L. Loeb of Carl M. Loeb, Rhoades & Co.; John Connor of Allied Chemical Corp.; and Robert Dowling of the City Investing Co., Humphrey's opening kitty may soon pass the $5,000,000 mark...
...moneymen were elated over Eshkol's plans for enabling Israel to pay its own way in the world after 20 years of living mostly on bonds and aid from abroad. The country intends to increase overall production by 40% over the next four years and to raise exchange-earning industrial exports by 60%, to $725 million a year. Finance Minister Pinas Sapir frankly called on the visiting group to use its "know-how and connections" to raise much of the $750 million in new capital that would be needed...