Word: zuricher
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...opens its first European branch, which will be exclusively concerned with selling advertising for the U.S. editions. Until now, European clients of the home edition placed their ads through their U.S. subsidiaries. The man who will head TIME'S first European ad office, which will be located in Zurich and operate Europe-wide, is Hermann Hirzel who, being a Swiss, is fluent in several languages. The new office will provide advice and counsel to new accounts, especially those without representation in the U.S., and solicit advertising for the national and regional editions of TIME...
...than 7%, v. about 5% in the U.S. These premiums stand to cut the U.S. companies' foreign earnings, which have been growing faster than domestic earnings. To make borrowing easier, Dow Chemical has bought an interest in an Amsterdam bank, soon will open a wholly-owned bank in Zurich...
...Navy to devise a better bombsight and in 1939 finally produced a compact (12 in. by 19 in.), though enormously complex, $25,000 instrument so precise that U.S. bombardiers could, as they loved to brag, literally "hit a pickle barrel from 20,000 ft."; of pneumonia; in Zurich, Switzerland...
Britain's government leaders com plained that the "gnomes of Zurich" gravely aggravated last November's pound crisis by coldly dumping pounds...
...Bankers. So climaxed the latest chapter in the continuing, incredible soybean scandal-the most prodigious swindle in modern times, reaching out from the grimy waterfront of Bayonne, N.J., and involving big commodities dealers in Buenos Aires, recipients of U.S. foreign aid in Karachi, and a numbered bank account in Zurich. Sixteen companies have been bankrupted. Eleven firms controlled by De Angelis have gone under, as have two respected Wall Street brokerage houses and one subsidiary of American Express Co. Embarrassed bankers from London to San Francisco have been taken for many millions. So have De Angelis' customers, notably...