His company did a good deal of… with the bank Tracy worked for.
4.1.4 Answer the questions
1 Where did Tracy meet Charles Stanhope?
2 What company did Charles Stanhope run?
3 What bank did Charles’ company do a good deal of business with?
4 Why did Tracy go to Charles Stanhope after his lecture at the financial symposium?
5 What sums of money did third-world nations borrow from commercial banks worldwide and western governments?
6 How did Tracy and Charles spend their leisure?
4.1.5 What do you think about the main characters of the extract?
4.1.6 What is in store for Tracy and Charles?
4.1.7 Make up a dialogue between Tracy and Charles
– After his presentation at the financial symposium in the bank Tracy worked for;
– During dinner at the restaurant.
4.1.8 Describe the appearance of: a) Charles; b) Tracy
4.1.9 Write five sentences using the following expressions: financial symposium; to run the investment house; to disagree with; to do a good deal of business; to repay the staggering sums of money
4.2 Text 2
As Tracy approached the bank, she glanced at her watch. Eight-twenty.
The doors of the Philadelphia Trust and Fidelity Bank would not be open to employees for another ten minutes but Clarence Desmond, the bank’s senior vicepresident in charge of the international department, was already turning off the outside alarm and opening the door. Tracy enjoyed watching the morning ritual. She stood in the rain waiting as Desmond entered the bank and locked the door behind him.
Banks the world over have arcane safety procedures and the Philadelphia Trust and Fidelity Bank was no exception.
Clarence Desmond was checking the lavatories, storeroom, safe-deposit area. Only when he was fully satisfied that he was alone would the Venetian blind be raised as a sign that all was well.
The senior bookkeeper was always the first of the employees to be admitted. He would take his place next to the emergency alarm until the other employees were inside then lock the door behind them.
Tracy smiled and went to work. She was in charge of the cable-transfer department. Until recently the transfer of money from one bank to another and from one country to another had been a slow, laborious process requiring multiple forms to be filled out and dependent on national and international postal services. With the advent of computers the situation had changed dramatically and enormous amounts of money could be transferred instantaneously. It was Tracy’s job to extract overnight transfers from the computer and to make computer transfers to other banks. All transactions were in code, changed regularly to prevent unauthorized access. Each day millions of electronic dollars passed through Tracy’s hands. It was fascinating work, the life-blood that fed the arteries of business all over the globe, and until Charles Stanhope the Third had come into Tracy’s life, banking had been the most exciting thing in the world for her. The Philadelphia Trust and Fidelity Bank had a large international division and at lunch Tracy and her fellow workers would discuss each morning’s activities. It was heady conversation.
Deborah, the head bookkeeper, announced: “We just closed the hundredmillion-dollar syndicated loan to Turkey…”
Mae Trenton, secretary to the vice-president of the bank, said in the confidential tone: “At the board meeting this morning they decided to join the new money facility to Peru. The up-front fee is over five million dollars…”
John Creighton added: “I understand we’re going in on the Mexican rescue package for fifty million. Those wetbacks don’t deserve a damned cent…”
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