Word: bond
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Dates: during 1930-1939
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...roughly scratched last week in Washington and from the scratchings emerged a major agreement: Federal taxes must be jumped up. The 1932 deficit was pointing inevitably toward two billion dollars (last year's: $900,000,000). Into such a colossal hole the Treasury could no longer keep pouring bond issue after bond issue. More revenue was imperative to save the Government's good credit...
...carload rates ($3 and $6) to add between $100.000.000 and $125,000,000 per year to carriers' income (TIME, Nov. 2). But the Commission tied a strong string to its proposal: this extra revenue must be pooled and from the pool weak roads which could not pay their bond interest and other fixed charges must receive as outright gifts whatever they needed in cash to escape bankruptcy. Any balance in the pool thereafter might be distributed equitably among the other roads. In effect, under the I. C. C. plan, strong lines were to use the rate increase to earn...
...rear-end attack on the carriers' financial troubles by a series of conferences with organized Labor. Into the New York, New Haven & Hartford's board room marched representatives of 21 railroad unions to ask for: 1) a six-hour day; 2) a billion-dollar U. S. bond issue to eliminate grade crossings; 3) Federal laws for accident indemnity, retirement insurance...
Last week it became clear why President Benenson wished to sell the property to New York Dock. Benenson City Terminal Co. was unable to meet a $2,451,000 bond maturity and a foreclosure was ordered. Under the auctioneer's hammer, wielded by ubiquitous Joseph Paul Day, went the 34-story Benenson office building at No. 165 Broadway, two adjacent parcels. The total winning bids were $23,775,779 or only $1,815,000 more than existing prior liens...
...Earle Bailie, president of Tri-Continental Corp. and partner of J. & W. Seligman & Co., and Medley G. B. Whelpley, president of American Express Bank & Trust Co., approved the offer. The plan then awaited the approval of the Federal receiver. When the deal is completed owners of Winchester first mortgage bonds will receive $50 cash and $28 par value Western Cartridge preferred stock for each $100 bond, while holders of Winchester debentures will get $38 par value preferred Western stock for each $100. President Olin last week assured New Haven that the Winchester business will not be moved to East Alton...