Word: postal
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Dates: during 1930-1939
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...Postal Shift. Because of the outcry that was raised at revelation of how Kreuger & Toll, acting with full legal rights, had shifted the collateral behind its bonds, the New York Stock Exchange lately passed a rule that it must be notified immediately of such changes. More than two years ago Postal Telegraph & Cable made such a shift. It removed and retired Commercial Cable Co.'s first mortgage bonds and debenture stock, replacing them with Commercial Cable unsecured notes. The amount involved was about $20,000.000. Leading statistical services have been aware of the change, as have sharp-eyed investors...
...Postal Telegraph bonds, of which some $50,000,000 are outstanding, last week sold at 15¢ on the $1 against a 1932 high of 39¢. In 1931 the company had its gross business fall only 8% against the total drop of 16% in U. S. telegraph business but its cable and wireless business was off sharply...
...TIME . . . fair and impartial in all things . . . make such a brazen misstatement as that in your article, issue of April 11, headed "Taxation," subhead "Communications." "Post Office Department begging Congress to increase first-class postal rate to make that service self- sustaining...
...most casual inspection of the annual operating statements of the Postal Department would reveal the illuminating fact that first-class (letters) is the only service to show a profit-that it nets the Government from 50 to 90 millions of profit annually...
...would the House tax bill raise that amount? There was some doubt about it last week. The Ways & Means Committee estimated that its measure would produce $1,032,400,000 extra cash; reductions in budgeted expenditures for 1933 were figured at another $200,000,000 and minor postal rate increases at $30,500,000. Thus by increasing receipts and cutting expenditures the Treasury would receive a total of $1,262,900,000 more than it now is getting, or $21,900,000 above Budget-balancing requirements...