Word: bond
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Dates: during 1930-1939
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...educator. He started as a professor, later became dean, at small Methodist Livingston College in Salisbury, N. C., where his late father George C. was Bishop of the African Methodist Episcopal Church of Zion. When Louisville, to placate its 30,000 Negroes who were blocking a $1,000,000 bond issue for its Municipal University, opened a Municipal College for Negroes in 1931, Rufus Clement became its first dean. No high-powered intellectual like Fisk's James Weldon Johnson. Dr. Clement is esteemed among his colleagues for executive ability and tact. He plays an excellent game of tennis...
...flat statements is 42-year-old Bernard Joseph Reis. who graduated magna cum laude from New York University in 1915, earned an LL. B. there in 1918, a C. P. A. in 1921. Since then he has been professionally exploring such corporate cadavers as the collapsed G. L. Miller Bond & Mortgage Guarantee Co. business of 1926, done accounting work for courts and public prosecutors in bankruptcies and reorganizations. In his book he reviews what happened to $11,988,814,205 of defaulted securities "sold to the public by reputable banking houses." He declares: "The author ... is unwilling that the billions...
...flesh or the pocket-book or the conscience is weak, and the invitation to regress to the age of incipient maturity must be regretfully declined. For these it is that the annual meetings of the several Harvard Clubs are designed. These meetings bring together men with a great mutual bond, they serve to acquaint graduates of the University everywhere with the progress that is being made in Cambridge and with the changes that time is slowly effecting along the banks of the Charles. If for no other reason than to enable Harvard men to see and hear the President...
...bankers' profits, Banker Hall said ruefully: "Today the market is full of recent bond issues contracted for in the hope of realizing gross profits of 2½% or less and now quoted at 5 to 10 points below their offering prices. ... In other words the profits are limited but the losses are not."As for criticism of banker directors, Banker Hall was frankly "puzzled." He held no brief for greedy managements or "corporate kidnapping." But he had found from experience that the "majority of companies are governed with a conscientious desire to do the right thing for the companies...
Having been told just what they wanted to hear, the Bond Club members were delighted. Cracked Financial Editor Carleton A. Shively of the New York Sun: "If it does nothing else, the summary of the case may help to eliminate the defeatist feeling so common nowadays in financial circles...