Word: underwritten
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...bring this about Fox will back-split its stock-one share of new for six shares of old. The holder of one new share will have the dubious privilege of buying five more new shares at $18.90 a share. Underwritten by Fox creditors the offering of new stock will probably be spurned by most holders. Chase will thus have to take up practically all the new stock, giving it control and in effect converting Fox debts into Fox stock...
...timber crop; 4) decentralization of industry so that Tennessee Valley residents may live on farms while working in factories; 5) manufacture of fertilizer; 6) production and distribution of cheap hydroelectric power. For these purposes the Tennessee Valley Authority is permitted to sell its own 3½%, bonds, but not underwritten by the U. S. Treasury. President Roosevelt estimated that the whole integrated project, an old social dream of his and of Nebraska's Senator Norris would supply 200,000 new jobs and stimulate the "back-to-the-land" movement. If it succeeds, he is ready to experiment similarly with...
...accumulate operating capital. Congress, as a starter, will vote a direct appropriation of $500,000,000 from the Treasury. Then R. F. C. will move to raise $1.500,000,000 from the public by the sale of its bonds, debentures, short-term notes. R. F. C. securities will be underwritten by the U. S. Government. Much depends upon this public sale which Wall Street envisages as a sort of Liberty Loan drive. President Hoover hopes that plain citizens, rather than banks and trusts, will be heavy investors. To pave the way for this great flotation the Fed eral Reserve...
...boom was indirectly the undoing of the company. Increased traffic could not be moved on the single-track line. To provide funds for double tracking and other expansion the road sold $45,000,000 of 5%, bonds during 1924, 1925 and 1926. The bonds were underwritten by an imposing group headed by J. P. Morgan & Co., First National Bank of New York and National City Bank. Failure to meet interest payments on these bonds last week precipitated the receivership...
...permanent, full-time executive secretary will be chosen from the board, under whose supervision the work of publication, and of the organization of smaller committees will be placed. The coats of preliminary organization, including the establishment of permanent offices, forms, and incidental expenses for the year, have been underwritten by the Chemical Foundation of New York City...