Word: transfering
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Dates: during 1950-1959
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...years ago Zik became the Eastern Region's first Premier. Still simmering over an old experience in a British bank in Nigeria ("Not only did the manager keep me standing in his office for some minutes, but he was curt and condescending"), Zik used his new power to transfer $5,600,000 in government funds into a hitherto modest native bank, the African Continental. The catch was that the African Continental Bank had been founded by Zik himself, and, although he had resigned as a director upon becoming Premier, he and an organization called Zik Enterprises Ltd. still held...
...extraordinary transfer of power from a military dictatorship to a democratically elected government took place in Lima last week, on the 13 5th anniversary of Peru's independence from Spain. Inaugurated as President for a six-year term was Manuel Prado Ugarteche, 67, a conservative, pro-U.S. aristocrat who had already served one full presidential term, 1939-45.* On the same day the new Congress speedily and unanimously dismantled the dictatorship's legal structure. In a series of new-broom bills, the lawmakers declared an amnesty for political prison ers, swept away oppressive security laws, restored legality...
...ships by a prolonged court battle, Niarchos settled the case out of court, paid an initial fine of $4,000,000. To recover 13 of his ships, he later made a deal with the Government that gave U.S. shipyards a needed boost. In return for permission to transfer the repossessed ships to foreign flags, Niarchos paid an additional $8,579,500 in penalties and agreed to build and register three supertankers (two of 32,650 tons and one 46,000-tonner...
...Nixon flew to Manila last week for the tenth anniversary of Philippine independence (see NATIONAL AFFAIRS) bearing a document that bolstered Filipino national pride more than all the speeches, parades and fireworks of the young nation's U.S. style Fourth of July. The document: a U.S. agreement to "transfer and turn over to the Philippines" full and unqualified title to ownership of "all land areas used either in the past or presently as military bases" by the U.S. in the Philippines...
...usual, Onassis' scheme had a canny angle. In return for building the new tankers in the U.S., he wanted permission from the Government to transfer ten of his war-surplus tankers plus another vessel, most of them bought from the U.S., to foreign registry. Running under foreign regulations and paying low foreign wage rates automatically reduces operating costs by as much as 50%, and increases the value of each tanker by approximately...