Word: firming
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Dates: during 1930-1939
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...Oyster Bay, L. I., Col. Theodore Roosevelt, 48, confirmed the announcement he would join the publishing firm of Doubleday, Doran & Co., explained he was now satisfied to lead a quiet life. Said he: "I am a grandfather now, and it is time I settled down. . . . The publishing business is a form of teaching, after...
...great shaking of heads among college presidents has greeted news of higher taxes. Anything which taps private fortunes taps potential endowments, and the presidents wonder if the millions will ever roll in again as they did in the 1920s. Last week the Manhattan publicity firm of John Price Jones, Inc., which manages many a money-raising campaign, figured out what Depression has already cost 31 rich U. S. universities and colleges. From a high of $74,456,326 in the academic year 1930-31, gifts fell off to $20,657,891 in 1933-34. During that four-year period...
...through a series of heroic financial efforts, most important of which were voluntary adjustments in publicly-owned issues of Van Sweringen Corp. and Alleghany that were about to default. The Morgan loan was obtained five years ago largely to pay off nearly $20,000,000 owing to the brokerage firm of Paine, Webber & Co. and to purchase Government securities to bolster the shrinking collateral behind Alleghany debentures...
Last March the Manhattan firm of Salomon Brothers & Hutzler unceremoniously ditched this ancient underwriting tradition, marketed $43,000,000 of Swift & Co. bonds on a straight commission basis. Total selling cost for Swift & Co. was $172,000. Last week Salomon Brothers & Hutzler again startled their fellow bankers by selling $50,000,000 of 3½% Socony-Vacuum Corp. bonds for a commission of four-tenths of 1% or $200,000. Fortnight before, Kuhn, Loeb underwrote a $50,000,000 Pennsylvania Co. issue for 2 ½%?a relatively low "spread" for underwriting. Total cost...
Founded in 1910 by three Brothers Salomon, of whom two?Percy and Herbert?are still alive and at the head of the firm, Salomon Brothers & Hutzler has always been known largely as a dealer in Governments, municipals, high-grade corporate bonds, bankers acceptances, short-term paper. Because the late Arthur Salomon originally hoped to model his firm on the big London discount houses, advertisements are always signed "The Discount House of Salomon Brothers & Hutzler," though the term is almost meaningless today. Its bond and paper business keeps it in constant touch with banks and institutions, and the Socony issue...