Word: edisonizing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Bondsalesmen last week stopped twiddling their thumbs and began to telephone clients.* Bankers had decided to "test the market" by offering three large utility issues. Each of the issues ($30.000,000 in Consolidated Gas Co., $10,000,000 in Brooklyn Union Gas Co., $25,000,000 in Edison Electric Illuminating Co. of Boston) sold well. An offering of $7,500,000 in Connecticut Light & Power followed quickly. But some observers were prone to temper their optimism. Edison Electric will not need the new funds until October when a $20,000,000 note issue matures. It seemed that the company...
...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 he pulled not one but four rabbits from his fecund hat. To his 250,000 security holders he offered...
Busy Mr. Hopson was also bothered last week by a 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...
Chicago's "L" was acquired by Samuel Insull in 1924 through a subsidiary of Commonwealth Edison Co. which furnishes it with power. Its receivers are Col. Albert Arnold Sprague, Chicago Public Works Commissioner, and the company's president, Britton Ihrie Budd. All of Chicago's electric street railways are in receivership...
...omission was that of Curtis Publishing Co. (Satevepost, Ladies' Home Journal, Country Gentleman) ; and shortly afterward Curtis announced a general 10% advertising rate reduction. Gloomy Chicago was cheered by the announcement that the three big Insull companies will only reduce, not omit, their dividends at the next meetings. Commonwealth Edison and Peoples Gas will pare their rates from $8 annually to $5, while Public Service Co. of Northern Illinois will cut to $3. For the year to June 1 the dividends casualty list has included 422 omissions, 506 reductions...