Word: trusts
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Dates: during 1970-1979
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Lance brings an expert banker's dexterity to refinancing his personal debts. One example: a loan of $3,425,000 from the First National Bank of Chicago, originally a $2.7 million loan drawn in 1975 from New York's Manufacturers Hanover Trust Co. to buy his 21% interest in National Bank of Georgia. The Chicago bank took over Lance's loan from Manufacturers Hanover in December. The additional $700,000 in the loan, explains Lance, covered "accumulated interest and debts...
Taking Risks. Other Lance debts include: the $651,000 Georgia Railroad Bank & Trust Co. loan used to buy shares in another Georgia bank; $443,466 from the United American Bank of Knoxville, used to buy 26,000 shares in his bank; $240,000 from Roswell Bank of Georgia, used for Lance's unsuccessful campaign for Governor of Georgia in 1974; $185,000 from C & S National Bank in Atlanta, used to buy real estate. He also owes $340,000 on a mortgage on his Atlanta house and 8½ acres of land, which he valued...
...Most Rhodesians are a little bit cynical about what the West is going to do. After the failure of the Kissinger [initiative], we don't trust these chaps who bluff us and then ask us to believe them. We were given a firm, binding contract and we agreed to it. We got a message of confirmation from Dr. Kissinger. We were assured that the British government was party to this. Also the "front line" [African] Presidents. You know what subsequently happened: they started backing out of it, one by one. If that agreement had been implemented, I think...
...Marxism will continue to knock on our door, but that is of no consequence. It is the terrorists who, supported by Marxism, come into Rhodesia and go out into the trust lands [black areas] to gain the support of the local tribesmen on the ground. Without that support, terrorists can't operate. You would not eliminate pressures from outside, but every country in the world copes with these. It's the terrorism within our country that we have got to cure...
...more. Robert Nathan, a Washington consultant, noting sharp rises in industrial commodity prices and the inflationary impact of escalator clauses in union contracts, believes that prices at year's end could be climbing at a pace of 7%. Beryl Sprinkel, vice president of Chicago's Harris Trust & Savings Bank, is worried that a rapid expansion in money supply -about 11% lately by one measure -could lead to sharp price boosts...