Word: bond
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Dates: during 1930-1939
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...York City's Fusionist Mayor Fiorello H. LaGuardia was given: 1) permission to exempt from the city's constitutional debt limit a new bond issue up to $315,000,000 for a unified city-owned subway system; 2) a Home Rule provision restricting the power of the legislature to interfere in city affairs by passing "emergency laws...
Biggest bug in the bonnet of any municipal financier is how much debt his city ought to carry. One school of thought holds that cities should borrow as little as possible, cites Kalamazoo. Mich., which burned its last bond in November 1937. having embarked on a pay-as-you-go policy. The opposite school holds that cities are foolish to pass up the opportunity to make permanent improvements when money is cheap, and especially when Harold Ickes' PWA will give 'outright 45% of the money. Leading middle-of-the-roader is New York City's little Fiorello...
...interior. Cuba's economic pains, including unemployment, have been only partly cured by the U. S. Good Neighbor policy which reduced the U. S. tariff on the island's big product, sugar. Last week, Colonel Batista moved to help Cuba's unemployed. He did not plan bond issues, increased taxation. Born and brought up as a common man, he decided like a common man that the problem was one of elementary subtraction...
...morning last week a group of Manhattan underwriters met in a light, breezy room of Morgan Stanley & Co. at No. 2 Wall Street. That afternoon a Morgan Stanley syndicate was to begin selling the biggest foreign bond issue since April 1937-$25,000,000 in 4 ½%, ten-year Argentine bonds. Having already spent a rumored $50,000 to prepare the issue, the underwriters expected by noon to fix the price, parcel out the shares. At 11:45 tne telephone rang. The Argentine Government, said a spokesman calling from Buenos Aires, wished to call off the deal; "market conditions" were...
...deposits, helped Carter Glass push through the Federal Reserve Act. The War saw McAdoo's zenith as a public servant: he issued $370,000,000 in emergency currency in three months, ran the spy-hunting Secret Service, floated four Liberty Loans, the Fourth being the biggest of all bond issues (23,000,000 subscriptions totaling $6,989,047,000), served as Director General of all U. S. railroads after Wilson took them over by proclamation...