Word: bonde
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Dates: during 1950-1959
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Successive French Finance Ministers have despaired over the problem of getting at these private gold hoards. But last week Premier Antoine Pinay, a shrewd businessman, thought he had found the way. He announced a new government bond, the value of which would be tied to the price of the gold napoleon. As the free market price of the napoleon goes up, so will the price of Pinay's bond: unlike the napoleon, the bond will also pay 3½% interest. Since every Frenchman knows that the government can bring the market price of napoleons down by minting more...
Launched with all the fanfare of a War Bond drive, Pinay's gold bond issue brought 17 tons of hoarded gold into the Paris treasury coffers in the first four days. At Dijon a man who wouldn't give his name traded in gold ingots worth 75 million francs (approx. $214,000). The bond issue had to pull in 400 to 500 billion francs to be a success. Pinay, who plans to use the money to finance war reconstruction projects, beamed as the returns came in; he was once again proving himself France's most resourceful Premier...
...normal markup (average 22%) to the tax itself* While the Big Four distillers (Schenley, National, Seagram's and Hiram Walker) insist that they will maintain prices, smaller distillers have already begun to cut prices of straight whiskies. Sample: United Distillers has slashed its J. W. Dant bottled-in-bond sour-mash bourbon by 90? a fifth...
Among the books Abbott has written are "Rise of the Business Corporation," "The New York Bond Market, 1920-1930," and "Financing Business During the Transition...
Like a man who is all ready to cash the coupons of a gilt-edged bond, Bob Taft clipped off all 56 G.O.P. delegates in his home state of Ohio last week, and tucked them into his briefcase. The big Ohio bloc was never really in doubt for Mr. Republican; only Harold Stassen was entered in the primary against him. The vote put Taft back in front of Eisenhower in the seesaw delegate quotations (see box), and gave him a luxurious feeling of wellbeing. Said he with a satisfied air: "I'll never be headed...