Word: refundability
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...last week U. S. Steel Corp. made its annual stock subscription offer-200,000 shares at $27 a share, about the market price. It was the lowest offer ever made. Highest was $169 a share in 1930. Steel's workers are permitted to cancel their subscription with a refund of all paid up instalments plus 5% interest, thus protecting them against a slump in price. But to discourage this Steel has always in effect guaranteed dividends through payment of "special benefits" for a period of five years after the offer. "Special benefits" on this year's offer...
...Passed a second time the first deficiency appropriation bill, minus the tax refund review clause that produced a veto...
...would have to pay its obligations, already contracted, in the dollar of existing gold content but even that was regarded as doubtful. . . . If any such views are to obtain, may God have mercy upon the Secretary of the Treasury when he shall be compelled in a few months to refund $11,000,000,000 of government obligations...
Anaheim, one of the oldest towns in California, tried issuing scrip last winter. The amateur financiers of Anaheim used 4? stamps on their currency, followed the Evanston plan in the main but neglected one step: making a tax certificate refund to merchants. Result: Puzzled merchants found themselves accepting scrip, buying stamps, but not getting anything back to pay for merchandise sold. The plan was actually a 4% sales...
...reputation as a hustler by getting it, foully if necessary. A threadbare device is for the circulation manager to raise the salary of a district man. ostensibly for showing bigger sales. The district man is allowed to pocket part of the increase, but it is understood that he will refund the balance in payment for a daily allotment of papers in excess of what he can sell. He may dispose of the excess by burning or dropping it in a river...