Word: rothschild
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Dates: during 1960-1969
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More money than ever is needed to finance Europe's broadening technology - and more people than ever seem to have it. For those reasons, two venerable family-run firms last week were deep in plans to let little investors into their operations. In France, the Rothschild Bank chose its 150th anniversary to announce that Messieurs de Rothschild Freres, as the bank is formally known, is expanding from investment banking into a commercial bank serving smaller depositors. And in Belgium, the huge chemical company of Solvay et Cie. held a meeting at which 1,800 family "partners" discussed increasing Solvay...
...raise money for the Wilson acquisition, he went to London-with a chip on his shoulder. Sure that he would be scorned as an American-and a Texan, at that-he told representatives of N. M. Rothschild's famed financial house: "I insist that the track record of Ling-Temco-Vought demands respect. Judge this corporation on that record, and I couldn't care less whether I'm personally liked." Rothschild's got the point. Together with Wall Street's Lehman Bros., the British financiers raised the money for Ling to swing the Wilson deal...
...went public in 1920. Least flattered by the BAT bid: Yardley Chairman T. Lyddon Gardner, 62, second generation of the family to head the firm and patriarch of a third generation coming along the company's ranks. Last week, after huddling with Yardley's bankers, N. M. Rothschild & Sons, Gardner urged stockholders to ignore BAT's tender offer. "We are going into battle," he vowed. "I don't see any connection between tobacco and perfumery...
Given the credentials of Rothschild's clientele, it is surprising that the bank is playing the card game at all. It will charge no fee for the service, and only a few hundred cards will be issued; that hardly compares with such plebian powers as the Diners' Club, which has more than 30,000 holders in France...
Actually, Rothschild Frères was moved more by pique than profit. It seems that some Paris stores have lately been nervy enough to question big checks drawn on Rothschild accounts. The bank hopes that the cards will end what one irritated Rothschild officer described as those nasty incidents that "occur from time to time, when a merchant insists on calling us before he accepts payment by check. It has proved embarrassing for us and for our clients...