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...notion how many more of Saxon's controversial branch approvals might now be subject to attack. Many bankers seemed to agree with President Jack T. Conn of the American Bankers Association, who called the ruling "wonderful." But not Saxon, who became co-chairman of the American Fletcher Na tional Bank & Trust Co. of Indianapolis after his term as comptroller expired last month. Saxon scoffed at Clark's opinion as "superficial," forecast a new wave of litigation over branching laws, criticized the way the Government had defended his position. "The original brief prepared in our office was masterly...

Author: /time Magazine | Title: Banking: Upholding the Status Quo | 12/23/1966 | See Source »

...thirds of the island that is accessible no other way: the rim of the crater of long-dead Mount Waia-leale (with 400 to 800 inches of rain a year, the wettest spot on earth), the hidden beaches like Honopu and the Valley of the Lost Tribe on the Na Pali coast, populated today only by prancing mountain goats. Said Jackie, after she had picnicked at one of Kauai's inaccessible beaches hemmed by steep lava cliffs: "I had forgotten-and my children had never known-what it is like to discover a new place, unwatched and unnoticed...

Author: /time Magazine | Title: Travel: On to the Outer Islands | 12/16/1966 | See Source »

Canada's target is the Mercantile Bank of Canada (assets: $225 million), which, as smallest by far of the country's eight nationally chartered banks, would hardly be noticed were it not wholly owned by New York's First Na tional City Bank. In Ottawa last week, parliamentary hearings began on a bill designed to limit the size of banks in which non-Canadians have more than a 25% interest. Mercantile, as it happens, would be the only one affected; under the new rules, it would be forced to pare its assets to $200 million or find...

Author: /time Magazine | Title: Canada: Braking the Bank | 12/16/1966 | See Source »

...enough, there are no more than 200,000 soldiers along the entire southern rim of China, including the borders with Viet Nam and Laos. Of the 50,000 Chinese troops in North Viet Nam, the bulk are cadre and support troops; no major combat units are stationed outside Chi na proper...

Author: /time Magazine | Title: Red China: Back to the Cave! | 9/9/1966 | See Source »

Sealed Destiny. Los Angeles is probably the fastest-growing city in the history of the world. No European laid eyes on it until 1769, when an expedition of Spanish explorers came upon an Indian village called Yang-na and renamed the site Nuestra Señora la Reina de los Angeles-Our Lady Queen of the Angels. Twelve years later, the area was settled by 44 low-caste peons (including ten Negroes) from Mexico. The pueblo came under American occupation in 1846, was incorporated (pop. 1,610) in 1850-the same year that California received statehood...

Author: /time Magazine | Title: Cities: Magnet in the West | 9/2/1966 | See Source »

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