Word: walls
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Dates: during 1930-1939
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...Continued to mull over the railroad problem. Virtually everyone in the U. S. from linemen on the B. & O. to the editorial staff of the Wall Street Journal had his eye on Senator Burton K. Wheeler, whose Senate Committee on Interstate Commerce has the job of drafting railroad legislation. Senator Wheeler's first move was a conference with representatives of railroad operators and workers. Ignoring the suggestion of wage cuts, the conference took up the following proposals: further RFC loans to the roads, revision of rate-making procedure, regulation of water transport, elimination of Federal barge lines, passage...
Underwriting. SEC last week announced that registration of new securities in the first quarter of 1938 set a three-year low of $355,819,000. In Wall Street it was considered quite a feat that a banking syndicate headed by Morgan Stanley & Co. managed to float successfully a $60,000,000 refunding for Consolidated Edison Co. of New York. Thus underscored still again was the almost complete stagnation of U. S. money markets which has existed for the last six months. Financiers are agreed that needed expansion of industry cannot occur until this stagnation is ended. But underwriters generally...
...trained on Franklin Roosevelt to force an armed truce, utility magnates let it be known that there was some $3,000,000,000 in needed utility expansion which had been held up because of the industry's fear of what the Government next might do to it or Wall Street. Whether this expansion is still needed now that power sales have been dwindling for six months is moot, but last week Jesse Jones declared that RFC would be glad to give utilities money for expansion. Said he: "We have heard a lot of talk about the expanding they could...
...last year before tax deductions, was sold by North American Aviation, Inc. to a banking group formed by Eastern's general manager, Captain Edward Vernon Rickenbacker. Elected president of the new company, Eastern Air Lines, Inc., was Eddie Rickenbacker. His backers include Harold S. Vanderbilt and the Wall Street investment firms of Kuhn, Loeb & Co. and Smith, Barney & Co. Last week these two firms offered 416,666 shares of common stock at $10 a share to a select group. By week's end some 75% of the stock had been taken up. If the rest remains unsold...
...curious to learn what connection there was between the Delta deal and the recent sale of Burco ownership to a group of Canadians. Quiet investigations by Mr. Bennett last week involved questioning men from the big brokerage house of Paine. Webber & Co. and big Guaranty Trust Co. Wall Street broke out with a rash of rumors about other investment trusts...