Word: bond
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Dates: during 1930-1939
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Chief reason for the decline in construction is that money, while cheaper for many purposes, has not been diverted back into mortgages as predicted. Interest rates on first mortgages are still 52% to 6% while seconds must yield at least 7%. Yields on 15 private building bond issues during June averaged 6.2%. Banks and building & loan societies are reported to be loaded up with property acquired through foreclosure, the construction field is considered "overbuilt" except for special buildings...
Biggest Bank's Bond House. Biggest of banks in assets, Chase National last week planned a deal that will broaden its sphere of influence tremendously. Through Chase Securities Corp. the bank has long been in the wholesale bond business, has recently started to build up an international distribution system. Last week, Chase Securities Corp. announced it will acquire ownership of Harris, Forbes & Co., potent and far-flung bond house. To Chase this means access to one of the largest bond distribution systems in the country. To Harris, Forbes it brings unlimited resources to handle the increasingly large deals...
Fifteen major bond issues have been floated abroad since 1885 by the Mexican government and the Mexican National Railways (today an insolvent concern). Last week the grand total of these Mexican debts stood at $514,302,000 principal, plus $369,888,000 in accrued unpaid interest. Therefore in the cool Manhattan office of J. P. Morgan & Co. an agreement was signed by Senor Luis Montes De Oca, Mexican Finance Minister. By its terms Mexico's principal creditors (the International Committee of Bankers on Mexico, chairmanned by Thomas William Lamont) agree to accept a "very large" but unspecified...
...special Ellis Island board of inquiry was called. After due deliberation the board handed down this decision: each engineer must post a bond of $500 guaranteeing that he would actually return to Russia. When a $10,000 blanket bond had been swiftly posted, the 20 Red engineers were admitted...
Deal. Unusual was the transaction by which a bond was established between Transamerica Corp., giant Giannini-founded holding company, and Union des Mines, large French industrial bank. Each gave the other a substantial but minority stock interest; officials of each will be invited to join the other. The deal will give Transamerica, which already controls Milan's Banca d'America e d'Italia, association with the French electrical, metal, chemical and coal industries...