Word: bonding
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Dates: during 1930-1939
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Chief significance to Mr. Morgenthau was that, by taking the initiative in refunding operations, the Government had helped lower interest rates in general, boosted bond prices and dressed the money market for private financing. Citing the $112,000,000 of corporate refunding last March-nine times the figure for March 1934-he flatly stated: "It shows conclusively that the financial logjam has been broken...
...years after the Japanese delegation defiantly walked out headed by cold-cigar-chewing Japanese League Delegate Yosuke Matsuoka (TIME, March 6, 1933). Turning from his own troubles to the League's, M. Avenol, unaware that he was stirring up two Oriental hornets' nests, perfunctorily announced: "The legal bond between Japan and the League ceases to exist. Japan no longer has any rights or obligations as regards the League...
...carriers made news last week which pointedly documented Historian Beard's indictment. As Wall Street had long expected, Chicago, Milwaukee, St. Paul & Pacific (mileage: 11,226) acknowledged itself in financial difficulties. Hav-ing failed to meet a maturing bond issue, it announced that it would present a reorganization plan before July i. Only seven years ago it emerged from a notoriously expensive reorganization managed by Kuhn. Loeb & Co. But instead of permanently paring the road's topheavy debt, the reorganization reduced fixed charges little, and the total capitalization was actually increased...
Died. Gerald Charles MacGuire, 38, bond salesman (Grayson M.P. Murphy & Co.) whom Major General Smedley D. Butler last November charged had approached him with an offer to lead a Fascist march on Washington (TIME, Dec. 3); of uremia and pneumonia; in New Haven, Conn. His brother, William J. MacGuire, declared that his death was the result of the "unjust charges...
...Electric Bond & Share's 143,000 stockholders went a ten-page letter, concluding: "Action by Congress is imminent. . . . You may wish to telegraph or write to your Senators and Congressmen." In the same dignified vein Commonwealth & Southern wrote: "We have no objection to reasonable regulation which will prevent the recurrence of any alleged abuses of the past. . . . The present bill, however, is aimed to control and kill-not to regulate and cure. . . . The passage of this bill can only be prevented by an aroused and indignant public sentiment. We hope you, both as a security holder...