Word: bonde
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Dates: during 1920-1929
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...growth is intimately connected with the growth of electrical public utilities in this country, for these utilities were badly in need of money for development. The General Electric, through its subsidiary, the Electric Bond and Share Co., helped to finance them and in return took a large measure of their business. This fact incidentally accounts in large part for the present investigation; because of this aid in financing public utilities, the General Electric is indirectly a large security holder in many companies...
...this situation actually constituted a legal or other monopoly, it undoubtedly would furnish a convenient talking point for our trustbusting statesmen, and the General Electric knew it. Therefore, while Senator Norris fulminated in Washington, the company's Board of Directors met, and voted to turn over the Electric Bond & Share Co. to a new corporation, whose stock would then be distributed share for share to the existing General Electric stockholders. This was, in a general way, the method adopted by the Government in breaking up the old "Standard Oil Trust" in 1911; its employment by the General Electric gave...
Such was the expense to the Government of taking over for its War time needs property of estimated value of $19,000,000,000, a 'business with about 2,000,000 stock and bond holders and the same number of employes, with equipment consisting of 366,197 miles of track, 2,408,518 freight cars, 66,070 locomotives, 55,939 passenger cars, 532 separate railways (exclusive of some 855 short line railways, not taken over) and 25 coastwise and inland steamship lines, with terminals, floating equipment, elevators and other essentials...
...issue was notable in two respects. It was the largest bond issue ever floated by the company, and the largest of any kind offered since the $150,000,000 Japanese Government loan of less than a year ago. Moreover, the terms of the loan were second only to those accorded to our Federal Government and our stronger states. The coupon of the Telephone issue is 5%, and the bonds were sold to the public at 95 to yield about 5.30. This interest charge is about one-third less than that recently obtainable by the Governments of Japan, Germany, France...
...General Electric officials, headed by Chairman Owen D. Young, have accordingly decided to take the bull by the horns and segregate Electric Bond & Share. This will be done by organizing a new company with 1,802,870 shares to take over the latter's business and receive General Electric's holdings in its subsidiary. To General Electric stockholders of record Jan. 15, 1925, the shares of this new company will be distributed as a stock dividend...