Word: bond
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Dates: during 1930-1939
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...Cushing, reticent and aloof, made few friends. He lived for medicine. But at the Hopkins he forged a lifelong bond with Hopkins Founders William Stewart Halsted and William Osier, both much older than he. After Sir William Osier's death, in 1919, Lady Osier persuaded Dr. Cushing to write her husband's biography. Dr. Cushing reluctantly set to work, appropriated an enormous laundry table from the cellar, piled it high with boxes full of notes, set about retrieving Dr. Osier's myriad postcards (he rarely wrote letters). Much to the surprise of Dr. Cushing and his family...
...Pliny Fisk had pegged the Government bond market at 110. One day, he happened to be standing behind the late Edward H. Harriman on the floor of the Exchange when Harriman, who had gone heavily short, attempted to break the market by a sudden offer to sell $500,000 worth at 90. Fisk promptly accepted, offered to take all others...
...long-term Government-bond speculation, Expert Porter is bullish: ". . . Whatever occurs, holders of Government securities may be confident that the nation's fiscal authorities will guard their interests in the market so long as the Treasury faces a tremendous program of debt refunding." When she is asked about short-term prospects, she quotes the forecast of an anonymous financier: "The stock market, sir, will fluctuate...
...Treasury used to encourage small investors, and inadvertently small free riders, by honoring all single bond subscriptions before prorating its oversubscribed issues to big bidders. Last fall the Treasury hastily changed this allotment system after an article in Scribner's called small investors' attention to the possibilities. But S. F. Porter, who wrote that article, thinks free riding will remain a profitable sport so long as the Treasury can successfully finance its issues...
...been smoothly squelching Financier Robert Young in a spectacular battle for control of the rich Chesapeake & Ohio Ry. (TIME, April 25 et seq.). Robert Young controlled the common stock of Alleghany Corp., top holding company of the oldtime Van Sweringen railroad domain. But Guaranty was trustee for three Alleghany bond issues under an indenture which specified that whenever the collateral (including Alleghany's C. & O. holdings) behind them fell below 150% of their face value, the bank could impound it. When the collateral so fell, the bank impounded...