Word: bond
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
While Electric Bond & Share took the fight to the Supreme Court, only to lose the first round last spring (TIME, April 4), United Corp. tried to persuade SEC to let it reorganize as an investment trust. SEC turned down no less than seven such proposals (TIME, Feb. 7), and after the Supreme Court's decision, United had to register with SEC after...
...Bond prices past low point...
Ratings was another prime topic oi conversation among last week's frolicking bond men. For many years banks buying bonds have generally relied on the ratings published by the four big statistical services-Standard Statistics, Moody's, Poor's and Fitch's.* In 1936 the Comptroller of the Currency made this custom a requirement in cases when bonds are of doubtful value. Last January a research economist at the University of Chicago with the resounding name of Melchior Palyi took it upon himself to denounce this setup. Said he: "The ruling of the Comptroller...
Rating agency officials retorted that they did not suggest the Comptroller's action, that the record of the 9,000 bond ratings is top-notch and their best defense. Only one of the four to put these ideas into print is Fitch's, now preparing a book. Meanwhile, Associate Professor Gilbert Harold of the University of Oklahoma produced a book called Bond Ratings as an Investment Guide, concluded: "The ratings operate quite effectively to protect the investor against loss. . . . The record is not perfect . . . but it is certainly beyond reasonable criticism...
...Steel debentures as AAA (highest), Standard as A1 (second rank), Poor's and Moody's as A (third rank). Last week, too, Secretary of the Treasury Morgenthau revealed that the group which has been devising a uniform bank examination was also brewing substantial modifications of bond ratings and eligibility...