Word: bonding
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Dates: during 1930-1939
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...general relief bill, without "pork" or bond issues...
Quick to attempt to cash in on the brisker bond market last week was Howard Colwell Hopson, dominating figure in Associated Gas & Electric Co., who surprised his bankers last spring when he offered a "baby bond" issue just as the U. S. was selling "baby bonds" to combat hoarding (TIME, March 7). Not selling many baby bonds, not exchanging all of its new 364-day Staten Island Edison notes for maturing old ones (TIME, June 20), Mr. Hopson has lately been in a tight fix. His company must raise $18,556,000 to meet early bond maturities. Last week...
...receivership suit against General Gas & Electric, a $129,000,000-in-assets affiliate of A. G. & E., and by a plea made by minority stockholders in Metropolitan Edison Co. that the Pennsylvania Public Service Commission investigate its financial structure and transactions with A. G. & E. Last week's bond-selling came on the heels of a long, substantial rally in bonds which carried the Dow-Jones averages from 65.78 on June 1 to 71.37 last week. It was on June 3 that a group of powerful Manhattan bankers, under the leadership of J. P. Morgan & Co., formed American Securities...
...situation. Of all the assets listed by a bank only the items "Cash" and "U. S. Government Securities" can be taken at face value. The bulk of a bank's assets is in loans, discounts and investments. Whether these are good loans, good notes, or how much the bond account has depreciated, only the officers & directors know. Only a few institutions publish the due date and amount of each loan, list their bond holdings. Since the collapse of the bondmarket Comptroller Pole has allowed bankers to carry bonds at "intrinsic value," an arbitrary figure arranged between the bank...
...tobacco, so certain of American Cigar's factories are being moved to Trenton, N. J., where it is expected that better labor conditions will also lower production costs. The raw tobacco will be cured, processed, stripped, blended and rolled in Havana, then shipped to Trenton under bond. Factories being moved include Havana Cigar & Tobacco Factories, Ltd., H. de Cabanas y Carbajal and others, all controlled by American Cigar's subsidiary Cuban Tobacco Co. Their brands, on which price reductions are likely, embrace: Corona, Bock, Henry Clay, Carolina, Villar, Manuel Garcia Alonso, La Meridiana...