Word: vass
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Dates: during 1930-1939
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...Vass. Since all new security issues are registered with SEC, it has been the best means of analyzing their success. On the basis of a study of three years' registrations, Lawrence C. Vass, chief of SEC's Investment Banking section, decided that "the problem of financing for small business today is its inability to raise junior-debt and equity capital, rather than an absence of short-term credit." In other words, when a small business wants temporary funds, banks are glad to provide them.* But when a small business wants $500,000 to build a new plant, banks...
...make a worth while commission on the deal. Fixed charges in underwriting are legal fees, accountant fees and cuts to dealers. To gross $50,000, which investment bankers generally consider minimum per deal, the banker would have to charge an exorbitant commission to float a small issue. Said Mr. Vass: "The banker can afford to charge but 2% or 3% on the sale of a $10,000,000 or $20,000,000 issue, while he must charge, say, 8% or 10% on an issue...
...registration statements from small companies. Their total requirements amounted to $273,000,000, an average of $565,000 apiece. In only one in four cases was more than 50% of the amount registered actually sold. In 163 cases no securities were sold at all. It seemed apparent to Mr. Vass that small business was not getting the credit it wanted and "the well-being of our economy cannot be divorced from the well-being and prosperity of these small and medium-sized corporations...
...Baron (Metro-Goldwyn-Mayer) is violent slapstick with a holocaust of puns. Comedian Jack Pearl takes the Baron Munchausen role he has played for the past 15 months on the radio. To the comedy of the howling lie, the stooge's skepticism and Pearl's definitive reply, "Vass you dere, Sharlie?" have been added Comedian Jimmy Durante and his masochistic schnozzle; Comedian Ted Healy; and three stooges who by the simple device of tirelessly clouting one another are nearly as funny as the Marx Brothers...
...Aunt Sophie who is washing a window, he plunges head-down in the automobile and Durante, with a vulgarity at once extravagantly bold and strangely shy, notes the family resemblance. In a broadcasting studio the fake Baron, innocent of an adventurous past, fakes an outrageous one. His "Vass you dere?" squelches all doubts, hugely amuses his studio audience...