Word: shawmuts
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Says D. Thomas Trigg, chairman of the Shawmut Association, a holding company for eight Massachusetts banks: "There will be more people paying more than the prime rate [the lowest interest charge on loans to top customers], and the margins over the prime will be greater also. Marginal credit situations are going to look a little more marginal for a while." Richard P. Cooley, president of Wells Fargo Bank in San Francisco, adds: "All banks will be more cautious, very quality conscious. No one is going to reach to make loans...
...Wells, chairman of the Manhattan agency she helped found, Wells, Rich, Greene, Inc., is the advertising world's most heralded woman. Banker Catherine Cleary, president of First Wisconsin Corp., sits on the boards of A T & T, Kraftco and General Motors. Kay Knight Mazuy, senior corporate vice president of Shawmut Association Inc., New England's second largest banking firm, is an odds-on favorite to become Boston's first woman president of a major corporation...
There are about 35,000 seats in Fenway Park. During the World Series by far the largest bloc of those went to Boston corporations; the Gillette Company, the Coca-Cola Bottling Company, and three banks--the First National Bank of Boston, the National Shawmut Bank and the State Street Bank and Trust Company. Each had held thousands of season tickets for the entertainment of favored customers and friends, and the Red Sox front office had offered two Series tickets for every season ticket each company owned. Season ticket holders (including some individuals) collected roughly 20,000 of Fenway...
...accounts. Fidelity is starting a Daily Income Trust that will invest deposits of $5,000 or more in such high-interest securities as Treasury bills and bank certificates of deposit. Each investor who wants the service can also open a no-balance checking account at Boston's National Shawmut Bank. When the bank gets a check for payment, it will withdraw the funds from the customer's Income Trust account, but until then the money earns interest. Although checks can be written only for $1,000 or more, William Byrnes, vice president of Fidelity Group, says expansively that...
...upcoming attempt to close the Macomber Construction Co. project at the corner of Shawmut and Ruggles Sts. is just one phase of the UCCW's efforts to get jobs for black tradesmen and laborers, Fletcher said...