Word: zuricher
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...horror of the black-suited money managers of Zurich and Geneva, the Swiss government is about to chisel a small chink in this wall of secrecy. Next month it plans to push through a law requiring banking organizations to surrender to a government bureau all information concerning assets belonging to "racially, politically or religiously persecuted foreigners or stateless persons." The bill is the result of long prompting from Israel, which is convinced that huge fortunes were left in Switzerland by Jews who later died in Hitler's gas chambers. Since accounts inactive for 20 years revert to the banks...
Solemn Ritual. Though there are also free gold markets in Hong Kong, Paris and Zurich, most of the world's bullion trading is done on the London market-and the pattern for world prices is set there. Every working day in solemn ritual, dark-suited representatives of the five London firms authorized by the British government to deal in bullion meet in a second-floor room of the House of Rothschild. Signaling any changes in their offers by raising tiny British flags, "the fixers" spend about ten minutes arriving at the opening bullion price for the day. Thereafter...
Post-Mortem in Zurich. As they struggled to straighten out their own finances, it was more difficult to find such concern for Eddy Gilbert's welfare among other of his former friends and associates. Before he resigned as president of E. L. Bruce Co., Inc., and fled to Brazil, Gilbert admitted to writing $1,953,000 in unauthorized company checks in a futile effort to meet margin calls on his stock in Bruce and Chicago's Celotex Corp. Fortnight ago. a federal grand jury charged fraud and ticked off 15 counts that, if proved, could put Gilbert...
...reverberations of the Gilbert crash echoed in Europe, where Eddy had borrowed much of the money to underwrite his scheme for seizing control of Celotex. In Zurich, darkly smooth Abdulla Zilkha, 49, an Iraqi-born financier who makes a specialty of lending money to would-be securities buyers on low margins but high interest rates, ruefully admitted that his firm had some $2,000,000 riding on Gilbert. "We won't know about our losses," said Zilkha. "until a post-mortem is made...
...among a small group of collectors, he became known as a hot discovery. Dr. Werner Hofmann, director-designate of Vienna's projected Museum of the Twentieth Century, not only snapped up a Verlon for his new collection, but also wrote an enthusiastic article about the new painter in Zurich's English-language Art International. The good doctor found the collages to be "a series of insights into the condition of man. The conception is ironic and bitter. It attests to a suffering, mutilated humanity, and yet there are successful concentrates in which man's dark and unredeemed...