Word: bondses
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William J. White, executive director of the housing agency, explained yesterday that because of a weak bond market the agency is unable to float enough bonds successfully to close the loans on all of its projects, including the Mission Park project.
Putnam said yesterday that Harvard has entered into agreements with the State Street Bank for loans needed to move ahead on the housing project because the housing agency has been unsuccessful in floating bonds for its projects.
New York City is assured of being able to pay its bills until December, but the possibly dire effects of an eventual default continue to stir up worry all over the country. Last week a federal study indicated that about 100 of the nation's 15,048 banks had...
A New York default would seriously shake the value of bonds issued by other cities; some municipalities are already finding it hard to raise money from investors. New York Mayor Abraham Beame therefore won unanimous support from his 14 colleagues on the executive committee of the U.S. Conference of Mayors...
The city is nonetheless getting some help. Last week twelve big corporations with headquarters or major operations in New York, including Exxon, Union Carbide and IBM, agreed to buy $20 million of bonds to be issued by the Municipal Assistance Corp., a state corporation that is raising money for the...