Word: puis
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Typically colorful trick play on which the indictment is based concerned two private Hopson companies called Associated Securities Corp. (ASECO) and Public Utilities Investing Corp. (PUI). In 1928, they had little capital to speak...
...when A. G. & E. Co., the system's top holding company, issued $63,000,000 of convertible debentures, ASECO and PUI agreed to take upwards of $20,000,000 worth at 97. On the theory that they were securities dealers, ASECO and PUI got a special discount of 1%, making the price...