Word: hutzler
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MEMPHIS POWER PLANT to take place of proposed $107 million Dixon-Yates plant (TIME, July 25, 1955) will be financed through $154 million revenue bond issue by City of Memphis. Wall Street's Salomon Bros. & Hutzler heads marketing syndicate, expects to have bonds on sale before Jan. 1. Memphis' stearn electric plant will generate 812,500 kw., start operating...
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...
Died. Arthur K. Salomon, 51, Jewish philanthropist, senior partner of Salomon Bros. & Hutzler, Manhattan bankers; in Manhattan after an operation...