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The article focuses on the formation of the Gold Bondholders Protective Council by stockbroker Robert Ellison as of March 1980 in an effort to uphold the interests of holders of matured bonds payable in gold that were issued by companies prior to U.S. Congress's repudiation of the gold clause in 1933. Comments from Stephen DeLisio, an attorney for Merdes, Schaible, Staley & DeLisio, and Herbert Waterman, vice president of Southern Pacific Railroad (SP), are included.

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.

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.

The article focuses on Federal agency debt issues. What is rarely explained to the retail customer is that the sales compensation earned by the broker on federal agency securities is considerably greater than on Treasurys. The agency paper, although rated triple-A, is a smidgen riskier than U.S. Treasury paper. There are three drawbacks to the agency issues. One is that unlike Treasurys, they are often subject to state income tax. Depending on the circumstances, that can easily erase the entire yield advantage over Treasurys. Secondly, liquidity isn't as good among the thousands of smaller agency offerings as it is on Treasurys. Thirdly, while only a small fraction of Treasury bonds are callable before maturity, a great many agency bonds are callable.

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 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 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.

This article discusses strategies for portfolio management. Detouring around the stock storm on Wall Street, people have sought refuge in the money market. Investors who cannot tolerate any volatility will look no further than a money fund. However, these investors are throwing away yield. Five-year corporate bonds rated AA are yielding 4%, while commercial paper of comparable quality is good for only 1.7%. The price of the Treasury note will decline as interest rates rise, but that decline will be mitigated by its shorter remaining maturity.

The article discusses a buyout of Warner Music Group, led by Edgar Bronfman Junior and his partners. Even before it went public, Warner Music gave $1 billion of dividends to its private equity owners. These were largely financed by three issues of CCC+-rated junk bonds, which investors gobbled up at a mere 9.5% and 6.8% annual interest. One reason investors have been willing to swallow meager coupons on junk: the fact that coupons on Treasury bonds are even more meager. Bronfman's co-investors--Bain Capital, Thomas H. Lee Partners and Providence Equity--have not been the only leveraged-buyout funds rooting like pigs at the junk-bond trough. Bond manager Michael Lewitt of Harch Capital notes that with General Motors and Ford bonds downgraded to junk, along with $400 billion worth of other former investment-grade paper, an old record has been surpassed.

Focuses on the late September 1998 appeal of high-yield bonds, or junk bonds. Widening yield gap between top-rated bonds and junk grade issues, as measured by the Bear Stearns High Yield Index; Yield on J.P. Morgan's dollar-denominated Emerging Markets Bond Index Plus and Brazilian dollar bonds; Recommendations from Bear, Stearns & Co.'s Paul Greenberg.

The article focuses on the agricultural credit system in the United States. Funding Corp. is the money-raising arm of the federal Farm Credit System, made up of 37 separate banks across the country--12 Federal Land Banks, 12 Federal Intermediate Credit Banks, 12 Banks for Cooperatives and the Central Bank for Cooperatives in Denver, which handles large co-operative loans. Put together they constitute the biggest thrift institution in the world, with 70 billion dollars of bonds, notes and commercial paper outstanding. The money is raised entirely in the public markets and does not pass through the U.S.

Presents information on negotiable instruments. Discussion on Republicans policy of avoiding punitive legislation against the use of financial derivatives in the U.S.; Importance on the proper use of financial derivatives; Role of derivatives in hedging risks; Reactions to some new financial instruments; Information on corporate borrowers; Discussion of Great Britain's victory over France in the 18th and 19th centuries; Observation that new forms of financial paper can increase capital efficiency; Pioneers in banking; Development of capital market that enabled Great Britain to issue bonds.

The article explores how pyramid bond structures can be used for speculative finance and acquisition of a company. The case of Triangle Industries is cited as an example of an using low-quality bond financing to assemble collections of assets. It highlights the pyramid built by Ronald Perelman, who manages a family metal-fabrication business and was able to grow the company and privatize it through funding from investment bank Drexel Burnham Lambert. INSET: How Perelman does it.

Offers a couple of far-from-Manhattan funds that handily beat their markets. Thomas Putnam of Fenimore Asset Management Value Fund from the rural upstate New York village of Cobleskill; Brian McMahon and H. Garrett Thornburg Jr. of Limited Term Municipal Fund-National Portfolio; Details of the funds.

The author asserts that the U.S. should float long-term bonds. Britain has announced it will soon be floating 50-year bonds. Germany is expected to follow. The U.S. Treasury Department should immediately do the same and lock in low interest rates. Washington stopped selling 30-year bonds nearly four years ago. The idea behind that decision was that the national debt would soon be extinguished so there was no need to sell regular Treasury bonds beyond a term of ten years. That move was a mistake then, and it's certainly a mistake now. Sadly, Washington has had a long history of mismanaging the national debt. Taxpayers have shelled out literally tens of billions of dollars for unnecessary interest payments on Treasury bonds. The most egregious reason for the waste of interest money: the Treasury's obstinate refusal to put traditional call options on its long-term paper.

The article focuses trends in the stock market in the U.S. for 1981. It mentions the 25% increase posed by the Standard and Poor's index, the negative return of bonds and the dominant market phenomenon in 1980, the expected slowdown in the country as well as the decline in interest rates in 1981, and projected substantial demand for funds resulting from the takedown of federal agency paper and corporate bonds by individuals. One advice encourages investors to own 15% bonds for the year.

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 offers information about bond investments. Morningstar analyst Arijit Dutta advises stateside investors not to stray too far from home in their bond portfolio. Forget about buying foreign bonds themselves. Most people can't cope with the time, taxes and transaction costs involved. Low-cost bond funds get rid of those problems but don't solve a big one: allocation. These funds tend to either stay out of the U.S. market altogether or keep a majority of their holdings--usually 60%--overseas. You can tack on one of these to your core domestic portfolio, but how much is too much, especially as global economic conditions shift? Julius Baer, a Swiss bank, answers that question with its $185 million (assets) Total Return Bond Fund. Comanagers Richard Pell and Donald Quigley, working from an office in midtown Manhattan, are required to keep somewhere between 60% and 100% of their holdings in high-quality U.S. obligations. The balance is in investment-grade, non-U.S. debt. At the moment the two have 77% of their holdings in U.S. paper, with the bulk of that position divided among U.S. Treasurys, corporates and mortgage-backeds. The rest is overseas, and only one-third of the fund's currency exposure is hedged. Julius Baer Total Return Bond buys mostly U.S. bonds but goes abroad to spice things up.

The article reports on lawsuits filed by former stockbroker and Gold Bondholders Protective Council founder and president Robert Ellison in relation to the redemption of railroad bonds and Liberty Bonds in the U.S. which contain clauses that pay off in gold.

The article discusses the performance of Denver, Colorado-based Financial Industrial Income Fund (FIIF) as of September 1, 1977, with attention paid to its chief executive officer (CEO) Stephen M. Bynum. The author focuses on the fact that in 1974 Bynum started to invest mostly in utility bonds and less in utility stocks. Particular focus is given to a real estate investment trust (REIT) liquidation in 1972, Bynum's investment in steel and paper stocks, and his potential bond investments.

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 profiles Robert P. Smith, an international investor and proprietor of Boston's Turan Corp. Over the years Smith's proclivities have put him into Guatemalan stabilization bonds, Salvadoran reserve bonds, Costa Rican certificates of deposit, Egyptian trade paper, Tanzanian and Zambian commercial debt and other risky special situations. Smith got his start in 1978 buying some of the $3 billion in trade receivables that Turkey owed to hundreds of multinational corporations. Smith specializes in trade-related debt. Mostly his stock in trade is sovereign obligations owed or issued to multinational companies.

Discusses how one of the hot securities on the New York Stock Exchange (NYSE) last year was a bond that has been in default since 1960. 4.5 percent bonds of the Republic of Cuba, due in 1977 and payable in United States dollars; Gambling that Cuban leader Fidel Castro would fall; Long-shots sometimes pay off; Past examples.

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 an analysis of U.S. tax code, focusing on leveraged buyouts and tax shields. The author advises investors to use bond interest deductions to cut tax bills, the proper application when buying corporate shares, and when to place dividends into tax-deferred savings accounts or individual retirement accounts (IRA).

The article presents observations on bond market history and how it relates to the automobile industry. As recently as 1980 Standard & Poor's gave AAA ratings to both General Motors and Ford Motor. Right now the two are BBB-, one notch above junk. The two car companies have suffered from just about everything: loss of market share, large retiree costs, union difficulties, restructuring, rising raw materials prices, excessive inventory, lackluster new products. Ford and GM are two of the largest corporate bond issuers, with $168 billion and $284 billion, respectively, in consolidated debt. That means almost every sizable public pension fund and bond mutual fund holds their paper. A downgrade to junk would disqualify some of these investors, and they would have to sell their bonds eventually. But they will not be forced to do so suddenly. Prices, after a brief downdraft, will rebound. Someone buying now and holding for years can afford to shrug off the downgrade. If you have a lot of money to put into a single bond position, you should consider buying in stages, a third now, another piece after the fourth-quarter earnings numbers are released in early 2005 and a third after the rating agencies pull the junk trigger. By "a lot of money" I mean $100,000; small bond positions are costly to trade. Your entire bond portfolio should be at least $1.5 million. At a time when decent bond income without scary risk is scarce, the automakers' yields look enticing. If you hold the bonds, don't panic and sell them, since the prices likely will recover after a few months when people see the auto firms aren't doomed.

The author comments on the bond market. Today not buying anything that looks like a bond, walks like a bond or quacks like a bond is important. One huge reason is government economic stimulation, a calculated political strategy by the Bush Administration that will breed long-term problems. The current White House, one of the greatest political marketing machines of all time, is always "on message" and always united in its overarching objective, getting reelected next fall. And sure enough, the three engines of economic stimulus are today all clearly "on message." Fiscal, monetary and foreign exchange policies are now fired up to energize the economy, create jobs or, at the very least, generate enough inflation so there's the illusion of prosperity by next November. Foreign investors, upon whom the U.S. depends to paper over its trade deficit, may well decide in coming months to shun low-paying Treasury bonds, driving down their prices. Once the inflation monster is loosed and once the dollar enters an even sharper downward trajectory, bond prices will collapse.

The article discusses issues regarding the U.S. government's initiative to renounce the implicit federal guarantee of the loans securitized by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac). It infers that the competition among bond issuers is pushing the U.S. Congress to control their open market operations, making them report to a tougher regulator and canceling their liquidity window at the U.S. Treasury. The political distress between the two agencies has produced a buying opportunity for bond bargain hunters.

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 offers a look at the state of Rapid-American Corp., a holding company for consumer and retail products in the U.S. that was established by businessman Meshulam Riklis, in 1979. It reports on the sinking fund debentures worth 314 million U.S. dollars faced by Riklis in1977. It also presents information on his indebenture funds.

Opinion. Explains why the Japanese government will not let any big institutions fail. Protecting creditors in the event of criminal fraud, such as the fraud committed by Daiwa Bank; Tax-free bonds issued by United States municipalities but guaranteed by Japanese banks.

Argues that bad economic conditions in the U.S. undermine the balance sheets of most debtors. Claim that prosperity increases the ability of borrowers to service their debts; View that if the economy is not producing real resources, government money is not worth the paper it is printed on; Information on the status of treasury bonds in the U.S. in 1970s.

The article reports on the career of hedge fund researcher Karen Karniol-Tambour. It mentions her work as head of investment research at Bridgewater Associates, her projects investigating bonds and the financial crisis of 2008, and her thoughts on investing abroad, particularly in China.

The article focuses on suggestions on filing tax form by due dates in the U.S. It is stated that , the form 1099-INT might have been issued at the time of redemption while redeeming savings bonds. It is mentioned that without consent, tax forms cannot be generated electronically unless a paper copy is also issued.

The article presents advice from Richard Saperstein of investment firm Treasury Partners on investing in bonds. In general Saperstein believes bond prices are set to decline. He recommends that investors in municipal bonds focus on issuers that derive revenues from necessary services such as toll roads and sewer systems. In his view Build America Bonds should not be purchased unless they yield at least 6%. Corporate bonds he favors include those issued by financial-services firms Citigroup, J. P. Morgan, and Wells Fargo.

This article reports that Barclays Capital, the investment banking arm of the London banking giant, is sailing against the winds of Alan Greenspan and central banks worldwide. That's because Robert Diamond, who heads Barclays Capital, has spent eight years turning his fief into a bond house, eschewing equities. But now that interest rates are on the rise, the future for bonds doesn't look too good. Diamond saw that investment operations owned by commercial banks seldom attracted the best equities talent and that the parent commercial bank's loans could entice customers for bond underwritings.

The article presents information about airport bonds in the U.S. Air travel dropped 5% in 2002 and 7% in 2001, falling victim to terrorism, the skidding economy and war fears. Airline stocks show the scars, with the Amex Airline Index falling 63% since September 11, 2001. But with airport bonds, investors should look past the well-publicized woes of individual airlines, like UAL's United Airlines, which filed for bankruptcy protection in December 2002, or US Airways, which emerged from Chapter 11 in March 2003.

Focuses on David Baldt, head of Deutsch Asset Management's fixed-income division. His reasons for not forecasting interest rates or predicting credit upgrades; His methods of choosing bonds; Bonds with high yields which he has found.

The article reports on stable U.S. bonds that are about to collapse, based on forecasts from Carol Levenson of Gimme Credit, a research firm that monitors bonds of highly-regarded investment-grade issues. Levenson's list of bonds that fall under this category as of October 2000 include assets of companies with sagging stock prices such as U.S. automaker General Motors, telecommunications company AT&T and long-distance company WorldCom. She includes credit card company Providian Financial.

The article presents information on the investments made by John Kluge, chairman of Metromedia Inc. Kluge, who came to the U.S. from Germany as a young child, spent 25 years building Metromedia from a tiny firm into the nation's largest independent broadcasting company. He is renowned for his intricate financial moves. Less than six months after taking Metromedia private, Kluge is tapping the public debt markets to leverage his leveraged buyout. Michael Milken of Drexel Burnham Lambert Inc. will be handling the deal for him. Through Drexel, Kluge is replacing his bank debt with $1.3 billion raised through creations of Milken's fertile mind-securities ranging from 4-year zero-coupon senior notes to 18-year adjustable-rate participating subordinated debentures.

The article presents information about convertible bonds. Convertible bonds track common stock prices. They also pay higher yields and offer more downside protection. There is, however, a price for these advantages. Some bonds have long break-even times to make up the conversion premium. Returns can also be cut if a bond is called or if the firm goes private.

The article discusses the emergence of bonds with no interest in the U.S. as of May 25, 1981. These investment opportunities are attractive to the borrower and pension funds which do not pay taxes because of guaranteed investment return and protection. J.C. Penney Corp. is the first company to offer zero coupon notes for 200 million dollars due in 1989.

The article features Virginia Dwyer, treasurer of American Telephone and Telegraph Co., and her job of selling long-term, fixed-rate bonds. It mentions the success of Dwyer in convincing investors to purchase almost four billion dollars in long-term bonds, her sales strategy that involves maturities ranging from 2017 to 2020 and a five-year call protection in the bonds, and her career history with the company. Dwyer adds that they will consider other bond options in response to market demands.

The article looks at hybrid debenture offering on U.S. bond market made by Mesa Petroleum Co. and U.S. industrial conglomerate Textron Inc. as of August 1980. The author discusses the conversion of the debentures, their dividends, and the advantages for Mesa and Textron. The benefits of the bondholders and the views of Maurice G. Wilkins Jr., Textron's vice president are also explored.

The article assesses the impact of the 1997 Asian financial crisis on emerging market bonds. Topics discussed include the growing demand for emerging market bonds which offer yield five percentage points more than comparable Treasury notes, fund manager Michael Conelius' focus on Brady bonds, and his position in the Philippine Brady par bonds.