Word: moneys
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Dates: during 1920-1929
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...March 12). The judge, the prosecuting attorney, the assistant court clerk and Mr. Brickley's counsel were all Harvard men. Said Mr. Brickley to the judge: "I want to thank you for the fairness and consideration shown me during my trial. I am very sorry that anyone lost money through my trading in the stock market, and if the wheel of fortune ever turns my way again I hope to be able to pay back all my obligations...
...explanation is simple. The "public" had finally come in, tardily, clumsily, "at the top," as always, with the greatest reservoir of cash of all, compared to which Wall Street's organized money force is small. It astonished nobody, because 7,000 tickers are now hypnotizing greedy eyes in 40 states, leaving scarcely a middle-sized town from Maine to California where citizens may not actually see their savings bank withdrawals dance past their giddy eyes in strange, cryptic abbreviations three minutes after passing their checks to the broker...
...reason why the Bancitaly Corp., with earnings of $30,000,000 last year, has just now declared a quarterly dividend of only 56¢ on its stock. The dividend might have been many times that sum. But paternal Mr. Giannini wants to make it "difficult for speculators to borrow money on his stocks...
Instead of putting their money in a shoe, cautious people often buy bonds. There is a feeling of safety in a crisp bond; it is backed up by buildings, lands, machinery, steel, coal?things. People can go and see or touch the things that make their bonds secure. But what about newspaper bonds? Only a fraction of their security is based on buildings and presses; the rest is good-will (of readers and advertisers). Indeed, a cautious investor might be alarmed if he asked himself the question: "How do I know definitely that anyone is going to buy this newspaper...
...amount of $600,006, pointed out that in 1927 the three newspapers earned $121,978 or 3.38 times the annual interest requirement of the new bond issue. A ratio of 3.38 between earnings and interest charges would once have been thought barely adequate to induce people to loan money to a manufacturing concern which had great brick & mortar assets. That such a ratio was deemed sufficient to get money for newspapers indicated that bankers now rate the pen as no less mighty than the brick...