Word: cash
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Dates: during 1930-1939
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...Chinese 292 years ago by their Manchu conquerors as a badge of subjection. Last December one of the last old-fashioned cues in the Orient, dangling from the head of the Inner Mongol leader, Prince Te,* Prince of West Sunit, bobbed in puppet subjection to gifts of Japanese cash & guns. The Prince declared Inner Mongolia independent of the Chinese Government at Nanking...
...patriots," Yun trumpeted, "and absolutely opposed to Prince Te's pro-Japanese policy." This might have meant much or nothing, but one thing Premier Chiang read plainly between the lines of the telegram: There would be no Inner Mongol rebellion unless Nanking forked out some cash...
Biggest chunk of spring financing will be the Government's. Last week Secretary of the Treasury Morgenthau announced the largest single offering of Government securities for cash in U. S. peacetime history-a $650,000,000 issue of long-term bonds with a 2¾% coupon and $600,000,000 in five-year 1½% notes. Demand for these was so brisk that Secretary Morgenthau was able to close his books after the first day. An additional $559,000,000 in bonds or notes were offered in exchange for an issue maturing in April, bringing the total operation...
However, the trusts had, on the average, nearly one-fourth of their assets in the form of bonds, which declined very little, or cash, which declined not at all. This stabilizing factor kept trust assets from diving to the full depths reached by the stockmarket averages but also retarded their recovery. And the inescapable conclusion was that on their common stock holdings, investment trust managers as a whole would have done better to buy the list of shares in the Standard Statistics averages and take a six-year vacation...
Atlas Corp. is the biggest U. S. trust ($103,929,000) and the most successful (asset value of its common stock has tripled since 1929). President Floyd Bostwick Odium entered Depression loaded with cash, kept liquid until bargains were plentiful, then bought other trusts by the dozen at heavy discounts from their asset value. Thus, in effect, he bought securities not at Depression lows but far below. Last year he cashed in on his paper profits to the extent of $11,000,000. Common stock dividends were initiated last September with a 30? payment, boosted fortnight...