Word: bond
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Dates: during 1930-1939
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...turn of the year Howard Colwell Hopson. dominant figure in Associated Gas & Electric Co., found himself in a tight fix. During the next twelve months he faced $42,000,000 of bond and note maturities. Failure to refund or pay off any of them would send one or more of its multitudinous subsidiaries toppling into the hands of receivers, might pull down the parent company. A sharp accountant with a salesman's slant, Mr. Hopson proceeded to pull many a rabbit from his fecund hat. Though Wall Street has long ceased to be astonished at the complex securities...
...lost only one property, Rochester Gas & Electric, long coveted by Floyd Leslie Carlisle's Niagara Hudson Power Corp., and lost only voting control of that (TIME, July 25). To reimburse the banks which had financed its purchase by a group of Rochester business men, an $8,500,000 bond issue is contemplated. Though the New York Public Service Commission lashed Mr. Hopson for "milking" Staten Island Edison and refused to sanction the sale of $8,500,000 long-term bonds to pay off notes, he promptly offered to exchange the notes for a new 364-day issue. The Commission...
...action served to stiffen rail bond prices, give rail stocks a gentle fillip. Pennsylvania was reported ready to bolt the merger plan rather than suffer exile from New England. Big Four executives called a meeting for this week to determine their next step. But bets were that the Depression, which had brought Pennsylvania's Atterbury, B. & O.'s Willard, New York Central's Crowley* and C. & O.'s Bernet together, would be over before every passenger coach and freight car in the East bears the name of one of their systems...
...They consisted chiefly of office buildings in the business district, subdivisions at Highland Park Highlands, Edithton (named for her) Beach and a section near Evanston. In 1929 the Trust needed new working capital, had to pay off bank loans. Mrs. McCormick endorsed an $11,000,000 bond issue which was further secured by $18,000,000 worth of securities, chiefly in Standard Oil of New Jersey.* When 15,000 tenants found themselves unable to pay rent she was unwilling to evict them. The Trust's income and securities both began to fall. The securities were sold...
Northern Power Co., subsidiary of American Power & Light Co., a member of the Electric Bond & Share group...