Word: interest
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Dates: during 1930-1939
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...Oakland Tribune died. Publisher Dargie had married a beautiful, improvident Spanish woman named Herminia Peralta, whose great-grandfather had once owned, by land grant from the Spanish Crown, nearly all the territory now covered by the cities of Oakland and Berkeley. To his widow Publisher Dargie left a half-interest in the Tribune, with the privilege of raising money to buy the other half at a court sale to settle his cash bequests. Needing cash herself, Widow Dargie got it from a friend of her husband, Congressman Joseph Russell Knowland...
...Knowland was beaten for the U. S. Senate. At the end of his political career and ambitious to be a publisher, he lent Mrs. Dargie $65,000, in return for which she assigned him temporarily her half-interest in the Tribune. This half-interest Joe Knowland put up as collateral for a loan with which he bought the other half of the paper. Result of these transactions was to make Joe Knowland and Herminia Peralta Dargie joint owners of the Tribune, with Knowland holding voting control (to cover his $65,000 loan) and acting as publisher and president. Publisher Knowland...
...great Leland Stanford had wisely willed his trustees great latitude in investment, Herbert Hoover and friends got permission to revise their portfolio. Meanwhile, many another trustee, bound by strict fiduciary laws and without latitude to switch to common stocks, faced an immediate menace: New Deal fiscal policy has reduced interest rates so low that with every refinancing the dollar yield of securities gets closer to the vanishing point...
...German Government laid itself open to questions by registering an issue of $70,000,000 of 3% bonds. These were not to be sold in the U. S.-they could not be. They were to be offered in lieu of interest for the years 1937-40 to U. S. holders of $250,000,000 of German bonds. As if the Nazi Government were a deceptive promoter, SEC cracked down with the threat of a stop-order, set August 15 for public hearings...
...deal. The bonds were last week kicking around in Wall Street for 25? on the dollar, in Germany, at 60 pfennig on the 100 pfennig Reichsmark (good only in Germany). If SEC had accepted the application, bondholders would have got $35,000,000 of bonds (1937 and '38 interest) which at 3% would have netted them about $1,000,000 a year in usable money. British holders of German bonds got a better deal which gave them about $15,000,000 real money on $30,000,000 owing in 1937 and 1938 interest...