Word: debt
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Dates: during 1950-1959
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...With $4,000,000 (including $3,000,000 held against bonded debt) of the old surplus still intact in the kitty, Broadwater is already talking of paying out another special dividend, and raising the dividend rate on the new stock to $1.50 a year. Moneymaking Capital Transit could do this handily if the regulating commission would allow it to get a 7½% return on investment instead of the present 6¾%. Last week Broadwater challenged the commission to grant such a rise or let the city buy the company. Says he: "If they won't let us make...
...Glenn L. Martin Co., which had a new president just three years ago, last week got another one. Out went Chester Charles Pearson, 45, the aircraft production man (formerly with Curtiss-Wright and Douglas) who was hired in 1949 to solve the debt-ridden company's problems. In came George Maverick Bunker, 44, an engineer with no aircraft experience but plenty of promotional know...
...Cash. To help him do his job, President Bunker will get badly needed new working capital. From RFC, Martin will get another $12 million, bringing its total RFC debt to $26.4 million; from a Navy-guaranteed private bank loan, it will get another $11 million. Under a new financing plan still to be approved by stockholders, Martin will issue $6,000,000 in new notes, convertible into common stock. Some of these have already been spoken for by Laurence Rockefeller, who has had notable success in other aviation ventures. In addition, Martin will offer its present stockholders (excluding Glenn Martin...
...pleasant embarrassment to explain, replied to his critics. Abbott took the view that the surplus was a fortunate miscalculation. Besides holding down inflation, he said, the surplus provided the government with funds to stockpile defense material and to pay off nearly $400 million in maturing bonds and national debt. With cash on hand for these purposes, the government did not have to borrow money during the year. And that left the investment market wide open for Canada's booming oil, mining and manufacturing companies to raise capital for expansion...
...praying with them, and playing his accordion for them. Instead of his clerical soutane, he wore a beret and turtleneck sweater. Unfortunately, he was never able to dodge conventional economics. With most of its citizens too young to earn enough money to support the colony, Nomadelphia accumulated a disastrous debt of 310 million lire (nearly $500,000). By last month the creditors were growing restless...