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This article presents brief descriptions of various recent socio-political issues and developments in the U.S. It first focuses on Senator John Sherman's latest banking bill. It provides that upon a deposit of bonds any national banking association shall be entitled to receive circulating notes equal in amount to the par value of their bonds bearing interest at the rate of not less than 3 per cent, and redeemable at the pleasure of the U.S. at the date of such deposit; and if bonds deposited are not so redeemable, and bear a rate of interest higher than 3 per cent, then the issue of circulating notes may be to an amount equal to 95 per cent. The article further reports that among the amendments to the Lowell Bankruptcy Bill suggested by the Convention recently held in Washington D.C., is one making dealings in futures on the part of the bankrupt a ground for objecting to his discharge.

The article reports that time money and commercial paper have not shown any tendency to advance and there has been no pressure on bond prices as expected due to the present level of commodity prices which are below 1920 levels and the increasing supply of gold.

This section offers news briefs on U.S. finance as of September 1949, which includes the 9.4 million U.S. dollars earned by Consolidated Edison Co. Inc. of New York in the June quarter, the refinancing of 52 million U.S. dollars worth of bonds issued by Illinois Central that is to mature in six years and the 3.3 million U.S. dollars net loss seen by Textron Inc. for the first half of 1949.

The article reports that U.S. Senator Carter Glass has started the first Congressional move against proposals to lend Federal Reserve money on bonds, stocks, or real estate.

The article focuses on the apparent regret of most stockholders who invested in tender offers made above the market. It is said that stockholders who only looked at the numbers and not the quality of the stock company failed to obtain profits from their investments. It notes that the debentures of holders of NVF and General Host papers are rejected by the New York Stock Exchange due to quality and liquidity concerns. It stresses the importance of creating a stronger company out of takeovers.

This section offers news briefs related to finance in the U.S. as of July 24, 1954, including a drop in business loans as noted by the Federal Reserve, the purchase of another 5-million U.S. dollar block by the Baltimore & Ohio RR of its own 4 percent bond, and the 300-million U.S. dollar worth of debentures registered by U.S. Steel Corp.

The article reports on the performance of the U.S. bonds market as of April 8, 1931. It looks into factors that influenced the market, including dividend and interest disbursements on April 1, the partial default on selected bond issues by New South Wales and the earthquake in Central America. A chart showing the bond trends from August 1930 to April 1931 is also presented.

The article offers a look at profitable opportunities in the stock market. The stocks of California Petroleum, General Petroleum and Independent Oil & Gas are presented to have carried higher before the decline, and are expected to do better than others in the next upturn of the oil group. Recapitalization of International Paper is cited to be seen as more favorable following the explanation that the new issuance of seven percent preferred stock is for the purpose of exchange for Riordon bonds.

The article reports on the inclination of U.S. institutional investors towards bonds and short-term paper. Pension funds, banks, and investment trusts are showing a cautious attitude in investing into the stock market due to the uncertainty of stock prices. As reported, the general public is greatly influenced by the behavior of institutional investors. For institutional investors common stocks look less appealing than bonds these days.

The article discusses the rising long-term interest rates in the U.S. caused by an unparalleled volume of new bond offerings. Companies revamp their balance sheets after the credit crisis in 1966 and borrow ahead as protection against more difficult times. The fear of higher interest in fall 1967 has helped create the current higher interest. Wall Street's cynicism about fiscal policy also add to the anxiety. The U.S. Federal Reserve Board has infused money into the long market to allay fear.

The article reports that as of September 1954, Frank C. Ash, president of Oswego Falls Corp. Paper, believes that American demand for paper will reach 100 million tons a year in 1980, that Southern Bell Telephone & Telegraph yielded 3.04% on its first trading on debentures, and that the Eastman, Dillon & Co. issued a 20 million dollar collateral on the Spartan Aircraft Co. with nine insurance companies.

The article focuses on guaranteed railroad stocks in the U.S. as of 1961. It is said that tenants have been exchanging bonds for the shares in public figures to save on taxes. The possibilities offered by the stocks for conservative investors are discussed. Pittsburgh, Fort Wayne & Chicago, or PFW&C, as the most important and valuable pieces of railroad property in the world is emphasized.

The article explores the legal battle over the control of the bankrupt but strategic Florida East Coast Railway. One contender is Champion McDowell Davis, president of Atlantic Coast Line Railroad (ACL), who aims to merge Florida East Coast with his ACL. Opposing the plan of Davis is Saint Joe Paper Co. President Edward ball who is part owner of Florida East Coast's First and Refunding Mortgage bonds.

The article reports on police's suspicion that some counterfeit bonds are in circulation across the U.S. following a series of arrests for forged bonds in 1962. Bankers and stockbrokers are watching out for bogus bonds bearing the imprimatur of General Motors Acceptance Corp. According to American Bank Note Co. officials, the forgeries are indistinguishable from the genuine certificate. Experts agree that organized underworld syndicates are getting involved in the counterfeit bond business.

The editor, in this article, shares his opinion on political and economic issues, which are of serious concern. Republican representative from California Paul N. McCloskey is certain to challenge U.S. President Richard M. Nixon in selected Republican primaries in 1972. Hammermill Paper Co. is No. 276 in Fortune's latest ranking of the 500 largest U.S. industrial corporations, with sales of more than $350 million, assets above $300 million, net income of $14 million, and more than 10,000 employees. To begin operation, National Railroad passenger Corp. is to receive a subsidy of $40 million, and backing for $300 million in revenue bonds.

The article recommends investors to adopt a policy of constructive investing to get the best results and still protect himself in both principal and income. Constructive investing is described to have nothing to do with speculation as it is investing for safety plus profit and thus avoids buying low grade and unseasoned bonds or stocks. The careful examination of all facts related to a specific security is cited as the first step and includes a study of the financial statements of the company.

Presents several letters to the editor on issues related to the United States politics and government. Exultation of the Republican papers over the helplessness of the Democrats; Consequences of the introduction of free coinage; Conditions to be met with for the sale of bonds.

The article offers news briefs on bonds and railroads in New York as of September 1939. According to an annual report of the Foreign Bondholders Protective Council, 275 issues of foreign dollar outstanding bonds are in default. The number of passengers per year has declined since the opening of the Hudson River bridge and tunnels due to heavy taxes to build highways.

The article discusses some of the political updates related to the U.S. The recent decision of the Supreme Court of Ohio that a municipality has no power to issue bonds payable in gold without special authority, simply affirmed a decision of the Circuit Court on the subject. A bond payable in gold dollars would be a limitation on the statutory dollar, as excluding the use of the paper and silver dollars. The "original package" question has again come up in a case arising under a West Virginia law. In order to check indulgence in what was considered the vice of smoking cigarettes, the legislature passed a statute requiring dealers in the article to pay what was thought to be the prohibitory tax of $500 for a license.

The article presents discussions on various topics. The bread loan floated by the Soviet Government is its first attempt to establish internal credits. The bonds are short-termed, to be paid back in January, 1923, in grain. Bonds vary in value from 1 to 100 poods of grain, the total amount of the loan amounting to 10,000,000 poods of grain. While the present market price of grain is over 400 rubles in the new soviet currency, or 4,000,000 of the earlier paper rubles, the price of a one-pood bond is put at 380 rubles. Bread bonds are to be accepted in business transactions or in payment of the tax in kind.

The article reports on the plan by General Motors Corp. for a public offering of 300 million dollars worth of new 24-year debentures with the proceeds to be used for the corporation's expenditures and as working capital.

The article offers news briefs related to business in the U.S. The effect of rising labor costs in U.S. have been offset by rising prices of goods. The increased military spending due to the escalation of conflict in Vietnam is leading to consumer income, inventory growth and capital expansion in U.S. Yields on corporate, government and municipal bonds are declining whereas rates of commercial papers have risen.

The article reports on the 20 million U.S. dollars worth of debentures to be sold by West Virginia Pulp and Paper Company, which was able to see its earnings reach 12.6 million U.S. dollars in 1950 and 7.98 million U.S. dollars ion the first nine months of 1951.

The article presents terse comments on various topics that concern the U.S. including progress being done in readjustment preparations for the end of World War II, move by leading investors to play it safe by buying bonds and important role of U.S. industry in the decline of Axis Power.

A letter to the editor is presented in response to the article "Bargains in Britain" in the October 1, 1960 issue.

The article observes that a number of U.S. municipal bond specialists expressed the concern that the bond market might be entering its toughest period since 1933. However, it adds that the interest rates on tax-exempt loans have dropped from 3.84% to 3.50% in March 1960, which indicates that the municipal bond market might be able to handle an increased demand for financing from local and state governments looking to sell bonds during the spring construction season.

The article focuses on the acquisition by Earl T. Moore of Central Railroad of New Jersey bonds at cut rate prices in the open market. Topics discussed include the decision by the board of directors to request tenders of outstanding Jersey Central stocks, the slight advantages of the stockholders of Jersey Central and the benefit of the tender request to majority stockholder Reading Co.

The article reports on the move by Periodical Publishers Association president Frank Braucher to outline to the U.S. Treasury Department Savings Bond conference the magazine campaign to sell bonds in October 1946.

This article describes the conditions in the Soviet Union markets after the Russian revolution. Russian bonds and Russian exchange, which depend on Russian credit, could not be influenced other than unfavorably by the rise of Bolsheviks to power, their virtual seizure of the State Bank and their overtures to Germany. Soviet Union's fiduciary issues rose in October 1917 above the maximum issue of the French Revolutionary assignats, being the first time in the 120 intervening years that the paper currency of any nation has achieved that unenviable distinction. To Wall Street's mind, the outcome in Soviet Union is so intimately bound up, not only with the obscurities of the economic future, but with the complete uncertainty as to Soviet Union's political situation.

The article reveals that the U.S. Treasury was able to offer one billion U.S. dollars in 2.75% 20-year bonds in spite of an unbalanced budget by maintaining a firm control on the money market and keeping down interest rates. It says that the move has created a bull market in government issues and has allowed the Treasury to replace short terms with long term debts at a low cost. It adds that commercial investors will become the big buyers of government paper until the demand for business loans improves.

The article reports that Knoxville, Tennessee will issue bonds to finance the construction of municipal power distributing system.

The article discusses the acceptance of common and preferred stocks over bonds by trustees in the U.S. It reports that New York savings banks have also joined the shift toward equities and they can buy preferred and common stocks up to 5 percent of assets or 50 percent of surplus, whichever is less. It also notes that according to a survey by magazine "Trusts and Estates," the amount of money in common trust funds is 838 million U.S. dollars.

The article examines the business conditions of countries in Europe, Latin America and the Far East as of November 1931. The coincidence of the partial repayment of the Franco-American credit is blamed for the relapse of British sterling. There were improvements in Chilean and Argentine bonds as well as exchange in Argentina and Uruguay. It mentions reports on the revival of Chinese trade in the Shanghai area.

The article provides insights on the U.S. bond market as of September 1974. Topics discussed include the difference between the current yield and the yield to maturity, the advantages of investing in long-term bonds to gain control over inflation, and the different kinds of securities such as U.S. Treasury securities, corporate bonds and floating-rate bank notes.

The article reports on the advance of the bond market, with long-term obligations being quoted on a 2-3/4 to 3-1/2 per cent basis, and short-term paper being in demand at much lower yields, as of October 1, 1935. It provides a table of representative, high-grade and long-term bonds for investors desiring a better income with safety and liquidity, but suggests a cautious approach on whether to buy. The article notes that massive bank reserves is one factor going for sustained bond prices.

The article offers information on municipal bonds that were approved by voters across the U.S. in November 1949. Voters approved a total of 1.5 billion U.S. dollars in state, town, city and community bonds. Among the bonds approved are Pennsylvania's veterans-bonus bonds, New York's bonds for public housing and slum clearance, California's for building local schools, Ohio's bonds for local funding and Tennessee's bonds for municipal obligations.

The article reports on the decision of the U.S. Federal Reserve Board to not demand any immediate enlargement of its power to regulate bank reserves and portfolios following the drop in government bond market in 1946. At the beginning of the year, Chairman Marriner S. Eccles and the Reserve Board's experts were concerned that commercial banks might shift from short-term government paper to the long-term issues. It says that the government bond market fell due to the Reserve Board's antagonism and the Treasury's debt retirement policy.

The article focuses on the War Finance Corporation bill passed by the U.S. Senate. The bill, as reported to the House by the Ways and Means Committee, laid down very specific directions on what interest rate would the War finance corporation's bonds bear, what rate would the corporation lend to the borrowers and under what circumstances could individuals secure advances. No interest rate is specified on the Corporation's own bonds, of which there may be outstanding an amount four times as great as the paid-in capital. Interest rates are to be determined by the board of directors, subject to the approval of the Secretary of the Treasury, who is ex-officio a member of the directorate. The House bill makes striking changes in the provisions under which the Reserve Banks may handle the Corporation's bonds.

The Associated Gas and Electric Company showed a genius for propaganda technique long before the Senate Lobby Investigating Committee caught it the other day destroying records of its fight against the "death sentence" in the holding-company bill. The Associated Gas and Electric's securities division published a bearish advertisement in Pennsylvania papers. The purpose, of the advertisement was to induce debenture holders to exchange their bonds for other securities, a frequent practice of Associated.

The article discusses Adolf Hilter, German Chancellor's ways to meet overdue short-term debts with government guaranteed long term bonds that bear lower rate of interest.

The article discusses the need of churches for capital spending which calls for borrowings, usually by 15-year serial bond issues. The Catholic church issues which include an extensive parochial system, reportedly outnumber those of Protestant and Jewish faiths. The Lutherans rank second while the Episcopal church is said to have very rare issues. Fitch Investors Service rate the church bonds for investment purposes by national banks while others like Standard & Poor's and Moody's do not.

The article reports that Otis & Co., owned by Cyrus Eaton, successfully convinced the City of Montreal, Quebec to end public offering negotiations with an underwriting syndicate of U.S. and Canadian firms. The transaction involved some 156-million dollars in new bonds which the American-Canadian underwriting group offered to buy in an effort to refund Montreal's outstanding couponed issues. In asking the fiscal committee to reconsider, Otis advised that Montreal would be able to fund its outstanding debt by selling bonds to through sealed bidding.

The article presents information about various political developments taking place in the U.S. According to a snippet, nothing of a startling character has been developed in mercantile affairs during the week. There have been no suspensions directly caused by Duncan, Sherman & Co.'s failure and it is becoming evident that there will be none. There was, however, on Monday a suspension, caused by the derangement of the foreign-exchange market. According to another snippet, senator Orton P. Morton was, in 1866, in favor of the payment of the bonds in greenbacks. Within two or three years, he turned right about, and denounced savagely anybody who proposed to pay the bonds in paper. Last year he was in the Senate the most ardent advocate of inflation.

The article reports on the announcement from the investment holding company Allegheny Corp. that it had made arrangements to pay off the 22.647-million-dollar bond in the U.S. It mentions that financier Robert R. Young had negotiated a six-year bank loan of 19.6 million dollars at four percent interest to pay off the bond. It states that Wall Street has examined the borrowings made by Young.

The article reports on the significance of using the 160-mile superhighway Pennsylvania Turnpike in producing 60% of its revenue to pay bond interest and maintenance costs in Pennsylvania. It states that truck toll scale ranges from three U.S. dollars to ten U.S. dollars depending on the truck's weight and passenger cars pay 1.50 U.S. dollars a trip and 2.25 U.S. dollars round trip. It notes the Pennsylvania Turnpike Commission's effort to encourage turnpike truck use for safety and convenience.

The article focuses on the sale of debentures by American Telephone & Telegraph Co. (AT&T) to its stockholders, and the announcement of its first offering at auction. It states that the company does not come under the rule U-50 of the U.S. Securities and Exchange Commission that requires competitive bids for the securities of electric utilities. It discusses the organized operation of the debanture sales for which the Bankers Trust in New York City offered its ground floor to serve investors.

The article explains how to make personal business forecasting. The absence of trend in interest rate and its association to the trend in bond yields is explored. Other topics discussed are the principle behind the changes of trade barometer or general business index, the influence of demand in trade activity and interest rates, the seasonal variations in money rates, and the usefulness of U.S. Federal Reserve Bank statements and statements showing the condition of leading member banks.

The article reports on the popularity of markets in short-term tax-exempt notes and long-term tax-exempt bonds in the U.S. in September 1973.