Word: solvent
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Dates: during 1930-1939
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...equipment trust certificates to be sold by two of U. S. Steel's railroad subsidiaries for the purchase of freight cars, the bulk of corporate financing is still refunding-swapping new money for old.* Interest rates are so low that almost no solvent corporation can resist the temptation to call in old high-coupon bonds, pay them off with cheap funds...
...chemistry. One day at Oberlin College he heard his chemistry professor say that fortune awaited the man who found a way to make aluminum cheaply. The story is that Charles nudged his neighbor, whispered: "I'm going after that metal." He hit on the idea of finding a solvent for the oxide ore, bauxite, then electrolyzing the solution, sending oxygen to one electrode, pure aluminum to the other. After graduation he cooked indefatigably in his back yard, trying dozens of solvents in vain. His crucibles were shaky, his batteries uncertain. Finally he found that electrically melted cryolite, a mineral...
...though in the War boom it once paid $10 in one year including a $1 "Red Cross" special. Sales have dropped about 50% since 1929 when the company took in $15,600,000, kept $854,000 as profit. Deficits have since been the rule but the company is thoroughly solvent...
...Florida East Coast is in the hands of the courts, and since the last hurricane (TIME, Sept. 16) it has been seriously suggested that its over-water section beyond the Florida mainland would make a better motor road than a railroad.* But the Rogers' Virginian was so solvent last week that a banking group headed by Brown Harriman & Co. easily marketed a $10,000,000 issue of the road's 6% preferred stock at the thumping fat price of $112 per share...
...Manhattan last week Federal-Judge Alfred Conkling Coxe saved Paramount Pictures Inc. $2,000,000. For 29 months Paramount had struggled through receivership, bankruptcy and Section 77b reorganization proceedings. Last July it emerged as a free and solvent corporation. But receivers, trustees, committeemen, lawyers, experts, banks and others sent in a $3,239,828 bill for services and expenses. Paramount was the debtor, as the law provides that "a trust estate must bear the expenses of its administration." But Judge Coxe had the authority to deny or to reduce claims, since Section 77b provides: "The judge . . . may allow a reasonable...