Word: new
(lookup in dictionary)
(lookup stats)
Dates: during 1920-1929
Sort By: most recent first
(reverse)
Thirteen Padlocks. On every drawer of the new Cash Register are U. S. padlocks. Thirteen of the 60 articles in the Statute were drawn wholly or in part to protect the U. S. Federal Reserve, which, under Article Twenty, has power to veto any dollar transactions contemplated in any country by the Bank. Getting this clause adopted was the major triumph at Baden-Baden of the two U. S. representatives, short, stocky Jackson Eli Reynolds and lanky, drawling Melvin Alva ("Mel") Traylor, presidents of the First National Banks of New York and Chicago, respectively...
...share of Japan and the U. S. will not be subscribed by their central banks?as in the case of Britain, France, Italy and Belgium?but, according to Article Six, by "Messrs. X, acting in place of the Bank of Japan, and Messrs. Y of New York." Of course "the Messrs. Y" will be J. P. Morgan & Co. Thus without putting up a cent the Federal Reserve?traditionally in closest touch with the House of Morgan ?will have a major "phantom stake" in the Bank. The same arrangement appealed to cautious, bespectacled Emperor Hirohito of Japan, who, by advice...
...those exercised in general business financing by an ordinary bank or bank-of-issue.? Jealously decreed these prohibitions. They were forced upon the Baden-Baden bankers by the European banks of issue?especially the Bank of England? which feared the competition of anything like a "World Bank." The new Cash Register thus does not measure up to the original grand conception of Owen D. Young and the drafters of the Young Plan (TIME, Feb. 18 to June 10). They advised that the Bank?chief organ of the Plan?should provide "useful instruments for opening up new fields of commerce...
Chairman? Chairman? As the delegates left Baden-Baden, New York's Jackson Eli Reynolds, though he had served as Chairman of the Conference with brilliant, driving power, was not mentioned as prospective Chairman of the Bank. Taciturn in the extreme with correspondents, he had earned their ire. He would not even give out the text of the Statutes, forced them to get it from Germany's offish Schacht, usually the closest oyster at any conference. Perhaps in irritation the newshawks made little of the fact that Mr. Reynolds went straight from Baden-Baden to Paris for a conference with representatives...
London papers carried a business announcement last week of the formation of a new corporation, to be known as R. C. Sherriff Ltd. "to acquire the copyright of all and any existing and future literary, dramatic, and artistic works of R. C. Sherriff and to carry on the business of publishers and booksellers." Capital: $5,000. Directors: R. C. Sherriff, Mrs. Sherriff, E. Tudor Mash...