Word: bond
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Dates: during 1930-1939
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...hundred "bucket shops" out of business and thereby learned the shady side of the brokerage business. He sent State Superintendent of Banks Frank Warder to Sing Sing for taking bribes in the City Trust Co. scandal. He convicted Anti-Saloon Leaguer William H. Anderson of forgery. He prosecuted bail bond racketeers, crooked milk inspectors, big-time thugs-with 80% convictions. He was in charge of the District Attorney's office in 1923 when Anna Marie ("Dot King") Keenan, Broadway "sweetie," was murdered. For days he withheld from the Press the name of John Kearsley Mitchell, "Dot King...
...house of cards collapsed. During and after the War plump Horatio helped the British Government against its own wishes and his own paper by organizing a series of lotteries, entitled Victory Club, Victory Bond Club, Thrift Bond Prize Club, Victory Derby Sweepstake, etc., etc. Patriots who could not afford a British bond bought tickets. Horatio Bottomley bought bonds and distributed huge prizes to the lucky winners...
...Bonds. The firm as a wholesaler of securities floats bond issues through syndicates. Because of its prestige it gets the pick of the business, the securities which are easiest to sell, of foreign governments (of England and Germany, for example), of great corporations without number. The margin of profit is small but because it gets the cream of the securities, the turnover is sure and rapid. If an issue of tens of millions can be floated over night, what if the profit is only $100,000? That is enough for a night's work...
Part Two of the National Recovery Act was President Roosevelt's colossal public works program. For this purpose $3,300,000,000 was to be raised by Federal bond issues which, with other "extraordinary" budget expenditures, would probably put the Public Debt to an all-time high.* The proceeds were to be lent to states, counties and municipalities on a 30-to-70 basis. It was estimated that each billion dollars would put 1,000,000 men to work constructing bridges, laying roads, clearing slums, eliminating grade crossings, building war ships. Private industry was to get no cash from...
...protection"' of bondholders is a big phrase in Depression. "Protective committees" are formed, they solicit holders of defaulted bonds to deposit their securities, they try by protest and lawsuit to collect-the expenses of the effort being charged against the bond owners. So many protective committees exist today that they have been called "the bellyaching racket." Even the proposed U. S. securities bill would create a corporation to protect U. S. holders of foreign bonds. And a committee was announced last week in London, to be headed by popular Sir Harry Armstrong, who retired in 1931 as British Consul...