Word: maelstrom
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Dates: during 1920-1929
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What happened last week in Detroit was, as all the world knows, just another vortex in the maelstrom that is gradually concentrating U. S. bank control. Whirling daily at a faster rate, there are two main currents in the maelstrom. One is the expansion of single units through mergers and new branches. Of this last week's Detroit merger was an example, as was the Corn Exchange Bank and Trust Co.-National City Bank consolidation (TIME, Sept. 30). The other current is the grouping of separate units through one controlling corporation. Greatest examples of this are the Transamerica Corp...
...problem of this maelstrom that was of chief concern to the members of the American Bankers' Association, meeting in San Francisco last week. Old, approved methods of banking have had to be revised under the new systems while equally important to bankers is the new personal element. Once a conservative banker could be expected to remain with his institution for years. Now bankers at the convention could scarcely remember whether friends were with the same bank, or whether that bank had been swept away into some merger or whether control of it had passed to some holding corporation...
...gold standard and the rebuilding of the merchant marine, will deal briefly and reluctantly with the effort to control the rubber markets of the world. The experiment which began Nov. 1, 1922, which ended last week, will be held an economic catastrophe. Hundreds of fortunes were drawn into the maelstrom of its collapse...
With commendable enterprise, newspapers fought for airplanes. In amazing time, the first got through; C. A. ("Duke") Schiller and Dr. Louis Cuisinier risked their lives in the flight, almost as dangerous in that stormy maelstrom as the plunge across the Atlantic. More planes started up, with insanely jealous cameramen, writers, mechanics, until the frozen corner of Canada began to bulge...
...advisers. There seemed no valid reason why old students should not welcome new and give them comforting and needed information regarding their new environment. Yet Harvard is noted for a distinct reserve. There are here none of the college mechanism which pull the startled freshman, almost unwillingly, into the maelstrom. Moreover, other features of the University, commendable in their conception, have led to decidedly undesirable conditions. Among other things, the segregation of freshmen in halls at a remote distance from the Yard, whether or not based on plausible theory, accentuated the natural barrier between...