31.   BellSouth was also assisted by Laurence Grafstein, an investment banker who recently left Credit Suisse First Boston to start Gramercy Communications Partners, a telecommunications merchant bank.

32.   Acadian Asset Management, an affiliate of Boston-based United Asset Management, recently teamed with a Singapore merchant bank, Pegasus Capital Ltd.

33.   But a forecast by the Veronis Suhler media merchant bank says considerably flusher times may be just around the corner.

34.   But Cybercash has not begun charging merchant banks for the service, and gives its client and server software away free.

35.   But that soon changed, beginning with a phone call from Aguilar to his brother-in-law, Jordan Davis, an executive at a private merchant bank in New York.

36.   But the government is more worried about setting a precedent for the liquidation of commercial banks, which are far larger than merchant banks and employ thousands of people.

37.   But those wounds paled next to the fatal blow that did in Barings, the venerable British merchant bank.

38.   Cadillac is owned by the Ontario Teachers Pension Fund, and Blackstone Real Estate Partners, a New York merchant bank.

39.   But, he said, Halla was able to turn to other commercial banks and to merchant banks, despite being warned of the dangers of short-term loans.

40.   Castle is chairman and chief executive officer of Castle Harlan, a private merchant bank that buys and sells businesses.