Word: bond
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Dates: during 1930-1939
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...holy water, and dexterously swishes precious spray over the pilgrims, bestowing virtue on the devout but not wasting a drop, grew tired. Thousands of grim, black-clad peasants who had been living on potatoes and pickles, hundreds of gayly costumed villagers, a few colonels in uniform, and counts in Bond Street tweeds, were flocking to Poland's holiest shrine to pray to Regina Regni Poloniae, the "Black Madonna" with the sabre cuts in her cheek. Their monotonously repeated prayer: "Theotokos, Mother of God, thanks to thee the wheat is in. But let it not be wasted; let there...
...Legislature. With him marched his friends Daniel J. Leary as comptroller and Thomas P. Kelly as executive secretary. They got a new "strong mayor" charter for the city instead of a city-manager plan, which had nearly been adopted. Taxes went up, relief necessitated a $2,000,000 bond issue, but the books of Mayor Hayes & Co. looked fine. Mr. Hayes got elected Lieutenant Governor in 1934 but retained his mayoral job just the same...
Next move was Groesbeck's. In eastern Washington, Bond & Share's small Washington Water Power Co. (450 miles of lines) has been threatened with competition from giant U. S. power plants at both Grand Coulee and Bonneville. Last month it sold $22,000,000 of 3½% 25-year bonds for refunding and new construction at the gilt-edged price of 105. Unworried investors gobbled up the issue...
...days later, Groesbeck moved again, this time solidifying his relations with SEChairman Jerome Frank. He announced he would simplify the structure of Bond & Share's National Power & Light. Meeting one of SEC's main objections (the needless ramifications of utility finance), he announced dissolution of National's "intermediate holding company," $332,000,000 Lehigh Power Securities. Henceforth, National will have direct control of Lehigh's Pennsylvania Power & Light Co., which supplies electricity to 700 Pennsylvania communities...
Last week, Wall Street noted that power production for the week ending July 1 was 14% ahead of last year and slightly ahead of 1937, added this to Bond & Share-New Deal good-will and the chances of more SEC-holding company deals. Result: the Dow-Jones average of 15 utility stocks rose for eleven consecutive days, making the second quarter of 1939 look like a straight line advance for at least this group...