Word: pars
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Dates: during 1930-1939
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...partner of J. & W. Seligman & Co., and Medley G. B. Whelpley, president of American Express Bank & Trust Co., approved the offer. The plan then awaited the approval of the Federal receiver. When the deal is completed owners of Winchester first mortgage bonds will receive $50 cash and $28 par value Western Cartridge preferred stock for each $100 bond, while holders of Winchester debentures will get $38 par value preferred Western stock for each $100. President Olin last week assured New Haven that the Winchester business will not be moved to East Alton, that the big local plant may even...
Knowing the ways of Mexican politicians, the world kept the rumors alive. On the week's news, pesos dropped to 2.90, closed at 2.78 to the dollar (par is 2.01 pesos to the dollar). Later came relief. Mexican bankers, hard pressed for bullion, bought gold in the New York market for the first time in years. A shipment of $2,114,700 arrived at Vera Cruz for Mexico City...
...million-dollar fund (later enlarged to a billion) to function as a stepping stone between the slough of the ordinary bank and the lofty security of the Federal Reserve. National Credit Corp. was quickly formed under the laws of Delaware with a capital structure of twelve shares of $100 par value stock. Twelve men were to direct it, one from each of the Federal Reserve Districts. Each would buy one share of the common stock, have one vote. Then the Corporation was authorized to issue up to $1,000,000,000 of debentures at par, and all banks...
Although few major banks have changed dividend rates, bank shares have dropped greatly. Chase National at $45 last week yielded 9% on its present dividend. The $1,000 par stock of San Francisco Bank however was quoted at a fabulous $12,000 per share. Stock in closely-held Mellon...
...Chicago's 14,000-odd school teachers saw pass last week a sixth pay-day which brought them no money. Total now owed them in salaries since last April is $17,705,000. Many teachers are in dire penury. Some have taken city scrip, which is accepted at par by some merchants, discounted by others. Usurers loan money on the scrip, charge 31% a month interest...