INTERNATIONAL: Magnificent McGarrah

Announcements of the most authoritative character made it seem certain, last week, that the governors of Europe's great central banks of issue have told Gates W. McGarrah, now board chairman ol the New York Federal Reserve Bank, that they wish to elect him board chairman of the new Bank for International Settlements soon to be set up in Basle, Switzerland, as "the cash register of German reparations" (TIME, March 25 et seq.).

Massive and magnificent of mien is Gates McGarrah, 67, of striking resemblance to the late...

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