Word: offing
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Dates: during 1960-1960
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In a functional glass-and-concrete building in San Francisco, the Bank of America, the nation's biggest (1960 deposits: $9.7 billion) commercial bank this week showed off the most highly automated center any bank can boast. It will serve as the nerve center for the bank's...
If the fund sells any of its holdings, it pays a gains tax based on the original price of the stock, and pro-rates it among the fund shareholders. When a Centennial stockholder sells his fund shares, he also pays a gains tax. It is figured on the difference between...
"No one gets out of paying a capital-gains tax," explains Berger. "They just put it off while they broaden their investments." The idea has caught fire. By last week there were at least six copies of Centennial operating or in the process of being formed by such firms as...
Seven similar check-processing centers are already in operation in other areas of the state, and the new center will keep tab on their operations as well, maintaining a running picture of the bank's business in all of its 702 California branches. Computers in the new center will...
Helpful ERMA. The Bank of America aided by the Stanford Research Institute' started out by developing what it calls ERMA-Electronic Recording Machine Accounting. General Electric put the sys tem together, hitching components from National Cash Register Co. and Pitney-Bowes to its own computer, which it programed to...