Word: refundings
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Dates: during 1930-1939
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...should I not strive to rehabilitate this organization which has been my life work?" Thus did the septuagenarian founder of big Minnesota & Ontario Paper Co. lately write the unhappy holders of his defaulted bonds. But Founder Edward Wellington Backus was unhappier than his bondholders. Unable to refund a bond issue, the $100,000,000 paper company in which he owned 90% of the common stock passed into receivership in 1931. Founder-President Backus was later ousted as sole receiver by bankers who put in two of their own co-receivers. They promptly sued Founder Backus for $7,000,000. That...
...column bibliography of his books, pamphlets and anthologies, appeared last November. Whether or not he would continue writing for syndicate publication, Editor Howe, sunning his old bones in Miami, was not sure last week. To subscribers-some of whom paid $1 for life subscriptions-he planned to refund the amounts...
...proportion of the domestic consumption of his product. The Government would decree minimum Chicago prices at Mr. Reno's much mooted "cost- of-production level," not at AAA's 1909-14 parity levels. In addition, the President was asked: to declare a moratorium on mortgage foreclosures, to refund the 4th Liberty Loan in new currency, to remonetize silver...
...return the bankers agreed to refund $131,000,000 of outstanding revenue bills at lower interest rates and to finance the city's current cash requirements. Mayor O'Brien agreed to drop his proposed taxes on savings banks and insurance companies if they would buy $70,000,000 of relief bonds. For the time being at least the first city of the land was saved from the stigma of default but John Patrick O'Brien had had to hock its income...
...Directors feared to impair it further by paying $800,000 in interest due Aug. 1. The able president (now receiver) Arthur Roeder (procured in 1929 from American Linseed Co.) will have a tough job to bring the company around the corner in time to refund $27,000,000 of bonds falling due a year hence. Saints have their crosses, the Rockefellers have Colorado Fuel & Iron...