Word: redeemingly
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...echoed through the rock-bound channel. That night captains of both vessels described from their anchorages to Canadian Broadcasting Co. and NBC audiences their historic meeting. Hopeful for the growing trade of the North were residents and sponsors of Churchill that somehow Northwest Passage II would bring business, help redeem millions of dollars sunk in Canada's most northerly port...
...Pittsburgh United matter, co-operation came to an end last March when the date of redemption rolled around and the company still made no move to redeem its preferred stock. Far from paying dividends, it had lost $63,879 in 1935, $89,257 in 1936. By March ist, though U. S. Steel common had risen from a 1936 low of $46 to around $113, Pittsburgh United's equity was still nearly $4,000,000 short of its original value of $16,000,000. Since Big Steel was expected to resume payments on its common within a year, Pittsburgh United...
...enough of its U. S. Steel holdings to pay off $1,227,187 in bank loans made by Pittsburgh's First National and the Chemical Bank & Trust Co. With the U. S. Steel common which had been held as collateral for these loans, he ordered Peoples-Pittsburgh to redeem Pittsburgh United preferred and in 30 days to turn over its remaining assets to Pittsburgh United. Immediately the preferred jumped from $100 to $141 on the New York Stock Exchange. For purposes of redemption U. S. Steel common was frozen at $111.25, Pittsburgh United preferred at $147.91. After the preferred...
...this company, whose story would make a perfect Joseph Hergesheimer novel, has always been closely held but last week Birdsboro was granted permission to list 200,000 shares of no-par common on the New York Curb Exchange. Reasons: to provide extra working capital, pay off bank loans, redeem outstanding preferred stock, establish a price for the common stock for the convenience of present owners, mostly family members and widely scattered...
...makes little difference, for the real value of the tax certificate is its nuisance value. The buyer cannot claim his one-fourth or one-sixth or one-one-hundredth of one-one-hundredth of one-quadrillionth until the end of two years, during which time the property owner may redeem the certificate for the amount of the back taxes plus 25% interest for the first year, 8% thereafter. Since the certificate is a cloud on the title, most certificates are eventually redeemed. The buyers are usually mortgagees seeking to protect their position or professional buyers looking for a 25% return...