Word: ratings
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Dates: during 1920-1929
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...with repercussions in Manhattan. Fascist censors were suppressing, it was declared, the fact that Italian bankruptcies have risen from 500 per month in 1923 to over 900 per month. Substantial Italian banks with capitalizations of between one and 600 million lira were stated to be going bankrupt at the rate of one such institution every fortnight. Finally bills to a total value of three and a half million lira were declared to have been dishonored during the past twelvemonth in the three provinces of Rome, Milan and Turin...
Money was never so easy as last September, when the bull market was in full swing. But in Europe the central banks were in trouble. Helpfully, the Federal Reserve sought to ease up still further on credit in the U. S., with the sound idea that higher interest rates abroad would attract much-needed funds. It ordered the Chicago bank to reduce its rediscount rate from 4 to 3½%. Chicago bankers, led by famed Melvin Alvah Traylor, head of the powerful First National Bank, dissented sharply, voiced grave warnings. Unheeding, the Federal Reserve forced its way, helped Europe weather...
...Bonds, which mature in September. He gave the new bonds a life of 12 to 15 years. Like most Government securities, they were only partially taxexempt. The conclusion was that no matter how high money may be now, Secretary Mellon believes that 3⅛% will be a sufficiently attractive rate to keep Government bonds near par from now till 1940. In other words, in Mr. Mellon's judgment, a decade of "easy" money lies ahead...
Vexed, Chairman Thomas V. O'Connor, of the Shipping Board, denounced this as Rotterdamaging "foreign' propaganda" put forth (he said) for ulterior purposes in a foreign rate war. Even when the sales are effected-probably months hence-the Shipping Board will not at once dissolve. The Shipping Board's ultimate purpose is to build up U. S. shipping. Bids of every form must carry certain guarantees of performance by the purchasers. Any one buying the Palmetto Line, for example, must guarantee 24 round voyages per annum between South Atlantic ports and Continental Europe for five years...
Down the side of Pike's Peak, Col., coming at a precipitous rate of speed, with an enormous roar, was seen last week a hairy and runtlike Negro. On reaching the bottom, 48 minutes after he had left the top, the Negro said that he had broken the record for coming down Pike's Peak and that his name was Dolphus Stroud...