Word: sweeten
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...choice did Water Works and Central sweeten their new bond issues with conversion privileges. Convertible bonds are always popular with timid investors in any period of rising prices because they offer a bond's stability of principal and income together with the speculative possibilities of stock. Last week on a when-issued basis Water Works' new bonds were promptly bid up to 5% above par, Central's 17½% above. Both issues are the first major financing in their respective fields since the Securities Act. Water Works' bonds carry the full civil liabilities imposed...
...Sweeten Automobile's attorney moralized last week: "His [Ford's] purpose, of course, was to make the Lincoln company appear to be a worthless enterprise so that Ford himself would appear justified in making a low bid. . . . From that day on there was wickedness and willfulness in the heart of Henry Ford...
...Edsel furnished depositions in which they denied, as they have always done, any agreement to pay off Lincoln's former creditors and stockholders. Last week an eleven-man jury (one was dismissed for expressing his opinion of Henry Ford ) ordered Ford Motor Co. to pay Sweeten Automobile Co., now in receivership...
Though Henry Ford will probably appeal the verdict, it was the first Leland victory in the ten-year fight. Originally Ford sued Sweeten for $6,800 in unpaid notes and interest, but the agency promptly filed a counter suit for $160,000. Sweeten claimed that Henry Ford had promised to maintain exclusive Lincoln agencies in 75 cities, that this was soon cut to 40 and Ford dealers began to sell Lincolns. The more Lincolns the Ford dealers sold, the less Sweeten and other Lincoln dealers sold. Henry H. Rudolph, a former Sweeten vice president, swore that when he told Henry...
...market for hot bonds is chiefly among reputedly honest businessmen who are in financial trouble. They buy them cheap, use them as collateral for loans or to sweeten portfolios of their institutions. Some are sold to insurance companies which would rather pay a "reward" of 40? on the dollar for the bonds than stand the full loss covered by their policies. Repurchase of loot from the famed $1,000,000 Grand National Bank robbery in St. Louis two years ago broke a first-class scandal involving many a St. Louis lawyer, businessman and politician...