Word: loeb
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Dates: during 1930-1939
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...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...
...marketing costs of various issues are not strictly comparable. One issue may be hard to sell, another easy, depending on the corporation's credit. An underwriter like Kuhn, Loeb may pay some of the legal and accounting fees involved in preparing an issue or may have spent months advising the company on a comprehensive financial program of which the bonds are only a part. But in the present money market it is clearly cheaper for super-solvent corporations to use a selling agent on commission...
...time Pecoraman. Smart, he has hired Wall Streeters steeped in the lore of the tape to watch the ticker day in, day out for signs of manipulation. Whenever his tape readers smell a pool, squads of SEC investigators swarm into action. Technical Adviser Paul Gourrich was trained in Kuhn, Loeb...
...more, they had shrewdly purchased most of the bonds after the company went bankrupt. Thus it was that Messrs. Hertz, Odium et al. had much more to say about the reorganization plan which went to the courts last November than the orthodox protective committee on which sat Kuhn, Loeb Partner Sir William Wiseman...
...secret was John Hertz's cordial dislike for the banking house at No. 52 William Street, Manhattan, but Kuhn, Loeb was an enduring tradition in Paramount. Not until last January was the final Kuhn, Loeb fade-out effected. Then the slate of new directors was proposed without a Kuhn, Loeb partner. The $6,000,000 of underwriting involved in reorganization was handled by Mr. Odium's Atlas Corp. for a nominal 1% (TIME...