Search

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 reports on the possible financial default by the New York City which needs to raise 433.6 million dollars through public offering to repay the matured notes. One of the positive aspect of a default discussed is the opportunity to balance its budget instead of adding further debts. Some of the disadvantages discussed include negative effect on the municipal bond issues of other cities, on the liquidity of banks holding the city papers and the possible litigations against it.

Reports on developments in the securitization market of New York City as of February 8, 1999, including a plan for a multimillion tax bond transaction and a resecuritization of residuals on liens from a 1996 trust.

The article asserts that if one lives in a state that looks harshly on so-called unearned income Treasury bonds may be very attractive. It further asserts that while investing, one shouldn't overlook the effect of state taxes. To be sure, the effective cost of state income taxes is reduced by the fact that they can be deducted on the Federal return. But they are still a nasty surprise for many successful investors. The article cites the examples of New York and Connecticut in the context of the discussion.

Focuses on the lawsuit involving North German Lloyd Steamship Co., which needed money for its Bremen and Europa ships, and addressed itself to bankers Kuhn, Loeb and Co. and the Guaranty Trust Co. of New York. Approval given by the bankers to buy $20,000,000 of the company's bonds at 90.5%, and offered them to the public at 94%; Role of the bankers in distributing the bonds to the public and playing trustee for the bondholders; Decision taken by the North German Lloyd Steamship Co. to default on the bonds.

Deals with the February 2000 success of the subordinate bond issue by Hanvit Bank in New York and its implications for the economic recovery of Asia. Amount raised by the bank; Role of United States investors in the transaction; Purpose of the proceeds from the bond; Effect of the deal on the bank's capital adequacy ratio.

The article reports that fears of a new credit crunch emerged in the New York area as a result of the $330 billion auction rate securities market. But although the U.S. high grade corporate bond market was quieter than in recent weeks, dealers were fairly untroubled by the latest deal. Credit Suisse gathered the plaudits among new issuers with a $2 billion 10 year subordinated bond. The 5.75% notes were priced at 212.5 base points over Treasuries.

The article reports on the move of financial services provider Washington Mutual to focus in diversification of its other retail banking business lines in New York. The move to shift from mortgage business to retail banking business is due to the company's bonds which is priced at risk. However, the company has taken efforts to reduce the risk of its mortgage business.

Focuses on New York-based New York Municipal Insurance Reciprocal's plan to introduce a maiden allocation to investment-grade corporate bonds in its general account.

Reports on the offering of the Kazakhstan's seven-year bond to several institutional investors in New York City. Terms of the contract; Number of capitalists interested for the deal; Level of demand.

The article reports on the debt being faced by the state of New York and several state agencies. The state is on the verge of default. The Housing Finance Agency has about 4 million dollars in moral obligation bonds. New York governor Hugh L. Carey says that even if New York City should default, the state itself can manage its finances through the spring of 1976. As reported, the debt stems from the construction and development projects of former New York governor Nelson A. Rockefeller.

Before the recent sale of Panama Canal bonds, the New York Clearing House banks had a gratifyingly large surplus reserve, on the strength of which there were many encouraging predictions with reference to the U.S. autumn financial situation. Today, their reserve instead of being noticeably large for this season of the year is about on a level with the average of the years preceding 1907, when, in the opinion of many, there was too much inclination to sail close to the wind. The very marked decline in the reserve in consequence of the Panama Canal bond sale has focused a good many minds on a fact which, in the past, has been quite generally ignored, namely, that public expenditure has had a great deal to do with creating the situation of the last few years, and is having a great deal to do with retarding the recovery from that situation.

The Stock Exchange has witnessed further liquidation, as violent in its way as that of March and August. Prices of important stocks have declined below the previous low level of the year, with the loss of all at the gain since the successful New York City bond issue of September 10. The stock market had received with apathy if not indifference, the sufficiently unpleasant developments; the common idea was that the incidents were of a restricted and local character and did not affect the run of values as a whole.

The article offers information on the developments in the bond market in the U.S. It is stated that the Aluminum Co. of America's (Alcoa Inc.) new bond issue sold well at the market. Moreover, it is stated that two hard-to-sell offerings were sent by the New York City pension funds. It also presents a chart depicting the recent new issues at the market.

The article offers information on the profits earned by the head of New York City over-the-counter stock and bond house, Charles Allen, Jr. It states that the sale of the share of Colorado Fuel & Iron Corp. (CF&I), brought a huge profit for Allen. It also states that under Allen's chairmanship CF&I was strong enough to think of dominating the western steel industry.

Resumption by the Stock Exchange of the open trading in stocks which had been suspended since the Exchange shut down on July 31, 1914, has had some remarkable results. Far more than resumption of dealings in investment bonds reopened stock market was bound to throw light on certain highly important questions. One was the long-discussed question whether reestablishment of a broad and active market would start an avalanche it was selling, back to New York, of the European holdings of American stocks. This apprehension had waned of late, because of the fact that prices had held firm at a level above the closing figures of July 30, 1914.

Several charts are presented depicting the structure of the stock market in New York from 1938-1939 including the total value of common stocks, total value of stocks day by day, and total amount of bonds day by day.

The article reports on the signs of credit expansion in the U.S., the support the security market is receiving from private funds and the new business impetus for stocks and bonds, in 1932. It says that credit expansion saw a sizeable increase in commercial loans among members of the New York City member banks as a result of government and other types of securities and because of persistent inflow of gold into member bank reserves. However, it is noted that the stock market is still in need of expansion despite of the strength in commodity prices.

The article profiles 65-year-old Sidney Homer, research partner of Salomon Bros. & Hutzler, one of the Wall Street's largest bond dealers. It notes that Homer authored a privately published book titled "The Bond Buyer's Primer," a collection of insights on bond investment written intermittently since 1961. It mentions that Homer, a professional statistician as well as a bond analyst, came to Wall Street, New York after graduating magna cum laude in Philosophy from Harvard University.

Reports that opponents of the proposed $103 million bond issue in Westchester County, New York, plan to appeal a state court decision that upheld the sale. Basis of the court's ruling rejecting the arguments of anti-tax advocates; Legal challenges on the securitization of the issue with funds from the national tobacco settlement.

Discloses the search for a New York City broker to bring Canadian pension fund manager, Caisse de Depot et Placement du Quebec's collateralized bond obligation to market, using Quebec provincial bonds as collateral. Firms under consideration; Other companies offering collateralized bonds in the market in March 1999.

The article reports on the reform initiated by the members of the National Association of Insurance Commissioners (NAIC) for the benefits of bond market in New York. NAIC announces that the proposed reform will effective on July 1, 2008 which allows to substitute for credit rating from the NAIC Securities Valuation Office (SVO) for the rating from the credit rating agency. The reform is described as part of the regulatory response to growing issues about bond insurance market.

The article reports on the corporate expansion of Bank of New York Co. Inc., recognized as the top trustee for the third quarter 2005 in international bond issuance. The bank opted to swap its retail banking business for JPMorgan Chase & Co. to double its influence. This combination is said to create the largest corporate trust by market share, overseeing debt issues representing an approximate amount of eight trillion dollars.

Presents updates on the bond market worldwide as of April 2004. Possibility that Adecco will violate the terms of its loan facility with Royal Bank of Scotland; Effect of the news of the acquisition of Aventis by Sanofi-Synthélabo; Cause of the wider default levels in New York.

Reports that the New York's Ulster County Development Corp. and the Ulster County Industrial Development Agency have issued bond for Saint Clara Church of God in Christ Inc. Proceeds of the bond issue.

Reports that anti-tax advocates renewed a legal battle against Westchester County, New York over its issuance of bonds backed by money it received from the settlement of the multi-state lawsuit against tobacco companies. Plaintiffs' allegation that the bond sale violated the state constitution because the proceeds were used directly to fund the construction of any hospital or health care facilities. constitution.