Word: floated
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Dates: during 1940-1949
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...finally satisfied that Preston Tucker was telling the truth about his financing. So last week it withdrew its stop order and allowed Tucker to float $20 million worth of stock to finance the production of his rear-engined automobiles (TIME, June 23). The Commission had no choice; it cannot bar anyone from selling the stock as long as the truth is told about the issue...
Tucker could still float his stock, if he amended his registration to meet SEC's approval. But he had little time-unless WAA gave him another extension. There was little chance of that because Republican Senator Homer Ferguson, whose Michigan automakers regard Tucker as a wishful dreamer, had turned a probing eye on the whole deal. Ferguson said that he "assumed" the plant would revert to WAA if Tucker did not make good on July...
...World Bank last week was beginning to feel like a village moneylender. Its capacity to lend could scarcely make a dent in world needs. Wistfully, President John J. McCloy told of plans to float the bank's first debentures in July-$250 million worth, at around 3% interest. If they are sold, other issues will be floated. The cash from the first issue will just replace the $250 million lent to France. It will leave the bank with only the $727 millions in U.S. currency it now has available for loans. But the world's need...
...great surprise, the short will of Henry Ford, filed for probate last week, brought about no changes in his empire. Nor was there any indication that the Ford Motor Co. would have to float a public stock issue to pay the enormous inheritance taxes. It looked as if old Henry Ford had taken care of his death as efficiently as he had run his life...
...Fashioned Loan. Norway was the first European country to attempt to float a big private loan in the U.S. through regular banking channels. It filed a registration statement with the Securities & Exchange Commission for a $10,000,000 issue of ten-year 3.5% sinking-fund bonds to increase its dollar exchange reserves...