Word: parred
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Dates: during 1930-1939
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...consequences may be, I'm going to advocate levying sufficient taxes to balance the budget. It means nothing to the United States whether I remain in Congress or not but it means much to the United States Government that its honor, its credit, its security be maintained at par. ... I want you and the country to gird yourselves with stamina, with backbone and with courage to meet this emergency. All must make tremendous sacrifices. For the budget must be balanced either through a manufacturers' sale tax or excise taxes on commodities and industries. . . . It is very easy...
...their capital stock for the previous five years, which would eliminate many high-grade bonds from present bank portfolios. 2) National banks of $1,000,000 capital or more could have State-wide branches where State laws permitted such branch banking. 3) National bank shares must have $100 par, to eliminate cheap shares and weak holders. 4) The Federal Reserve rediscount base should be broadened by allowing loans on paper now ineligible where ten or more banks in one district combine to endorse it. 5) The Secretary of the Treasury should be removed from the Federal Reserve Board...
...which had already dropped some 30 points, dropped ten more points last week to 61. Tokyo City bonds dropped over seven points. Bonds of Daido Denryoku Kabushiki Kaisha (Great Consolidated Electric Power Co. Ltd.) dropped over 13. The yen sank to a value of 35?, lowest level in history (par...
...standard. Last week's drop was the investor's reaction to war. A total of some $390,000,000 worth of Japanese bonds are the major portion of the $451,000,000 U. S. investment in that country. Altogether last week they were worth about 60% of par. Thus Japan's credit was being scrutinized in the U. S. more carefully than at any time in a decade. Prime point is that in all Japan there is only $190,000,000 worth of gold bullion, a small fraction of its paper currency and discounts...
Applicant for the receivership was Mr. Spreckels himself, owner of $10,000,000 par value securities in the company and its creditor for $50,000. Depression has hit the company so badly that it has only nominal cash, has current liabilities almost twice as great as current assets, has paid no dividends since 1924, is accumulating interest debts at the rate of $300,000 a year...