Word: refundability
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...Rail bonds now absorb about $732,000,000, the third largest investment on their lists. Railroads point out that if the banks are forced to sell rail bonds it will depress the market so much that the carriers will not be able either to raise working capital or to refund some $800,000,000 of obligations maturing between...
...Government hastened to appeal its adverse decision which, if lost in the Supreme Court, would compel the Treasury to refund more than $50,000,000 collected under Section 3O2C...
...Refund. Six months ago the management of Transamerica Corp. decided its shares at $13¼ were undervalued, called upon shareholders to contribute funds for a market pool (TIME, Dec. 29). Last week all the money received (said to be $20,000,000) was returned to stockholders, plus interest at 4%. Surprising was the pool's statement that the money had been kept in a bank, never touched. But it was also gratifying word to the pool's contributors, for last week Transamerica shares were at $7 against the year...
...Passed a bill to allow the Treasury to refund $8,000,000,000 worth of Liberty bonds; sent it to the President. ¶ Passed (68-to-9) a bill for a 10? per lb. tax on oleomargarine; sent it to the President...
French Redemptions. With plenty of gold, France is able to redeem high-rate dollar bonds, refund them with money obtained at low rates in France. Last week the $10,000,000 7% issue of French National Mail Steamship Co. (due in 1949) was called, closely following on the announcement that the $20,000,000 Eastern Railroad Co. of France issue due in 1954 will be called this year. In June a $75,000,000 issue held by Swedish Match was likewise called...