Word: totaling
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Dates: during 1920-1929
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During the first eight months of it required something more than $17,600,000 per day to finance the birth and the growth of U. S. industry. Total new financing up to Aug. 31 reached the figure of $4,231,847,000-money raised at the rate of a half billion a month or six billion a year. This figure included stocks, bonds and notes, but did not include real estate or municipal securities either in this country or Canada. Except for a comparatively small amount of financing by Canadian corporations and by foreign corporations, cities and governments, it represented...
Prime absorber of funds were the various security and financial corporations somewhat loosely classed as investment trusts. These companies accounted for no less than $1,494,093,000-or somewhat more than one third of the entire total. Next came public utilities, which got along on $777,191,000. Low on the list were Coal and Construction, high were Aviation and Oil. Ten leaders in new financing were...
Leading Houses. Whence came the $4,231,847,000 total? Ultimately from U. S. pockets, of course, but more directly through financing houses. A financing house takes part in new financing in one of two ways-it either assumes the responsibility of floating the new issue or it participates in floating an issue which some other house has sponsored. In the second case, it is a participant in a syndicate, in the first case it is the syndicate head, except when it does not invite any participants but handles the entire job itself, Most houses are syndicate heads in some...
Syndicate Participant Total...
Last week the National City Bank acquired another title of magnitude, the ultimate title, in fact, of "biggest in the world." Its merger with the Corn Exchange Bank Trust Co. swelled its resources to $2,386,066,401, a total sufficient to nose out the former "biggest," London's Midland Bank, Ltd., by a bare 83 million...