Word: bond
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Dates: during 1940-1949
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...from being a bad thing, an overall rise in interest rates might help in this bond-selling job, though voluntary campaigns will almost certainly not be enough. To put a further brake on consumer spending the Government will have to rely heavily on forced savings (now implicit in the Victory tax), combined with much higher and broader regular taxes. Thus the U.S. is about to follow the lead of Britain which long ago discovered that forced savings are a vital part of wartime financing...
This rowdiest of stockholders' meetings, rowdier than any big corporation had even in mid-Depression, caught giant Electric Bond & Share Co. by surprise last week. There was no particular reason for it except that the company has had trouble aplenty-its affiliate's plants in Shanghai have been seized by the enemy; its earnings have dropped from 1930's $42,000,000 to this year's $6,000,000; SEC threatens to make it part with some of its U.S. operating companies...
Into this tumult barged snappy, tennis-playing Stockholder Norman Charles Norman, a jeweler by trade, a management-watcher by choice. He shouted that all Bond & Share employes should be tossed out; "This is a stockholders' meeting." Another shareholder, threatened to call the police unless everyone was quiet. Finally President Murphy managed to read a 26-page report. It was bad news: profits in the year ended September plopped to a 20-year low; heavy taxes and Government competition were big worries; the Death Sentence Act "is such that perhaps we cannot stay in business...
...raise approximately twenty-four billions, not even one-third of a year's expenditures. This proportion will have to be increased, but in the meantime billions of dollars of revenue are lost to the Government. Other lost revenue is that which should come from two specially favored groups: municipal bond holders and owners of mines and oil wells. In both these groups the Government is losing hundreds of millions of dollars when it needs them most. Congress did not tax for total...
Commenting on the first week of the intensive war bond drive, Ellison said last night that, "although complete results for the week are not yet in, it is probable that as a whole the sales dropped. Final results should be in tomorrow, and then we can tell, definitely whether the disappointing preliminary trend has been borne...