Perhaps the most interest issue of the week hasīeen the $50,000,000 General Motors AcceptanceĬorporation 5% serial bonds, maturing 1927-1936, Many logical moves in the restoration of the textile It is reasonable to hope that this is one of Working capital is in excess of $30,000,000. The company's propertiesĪre carried at $45,000,000 and insured for about Thereby provide an economy that may prove of considerable importance. Theįinancing has the indirect effect of enabling the company to take over its own selling arrangements and Material improvement, with large part of fixedĬharges earned after liberal allowances for depreciation and heavy writing down of inventories. Little or no earning power, though in 1925 there was Is a rehabilitation move of a strong company withĪ splendid record which for several years has had To fund floating debt, and relieve the company ofīank loans except as they may be necessary from Issues have been offered, nevertheless the bonds haveīeen accorded a favorable reception by investors.Ī significant offering of the week on Wednesdayīy a syndicate headed by Lee, Higginson & Co. Issues, and whereas the issue has not been immediately over-subscribed by the public as has frequently been the case where especially attractive These bonds were offered at'practically the existing level for other New York City To 102.101 for the 1976 maturity, with a yield ofĤ.15%, the latter yield prevailing for all prices fromġ936 upward. Were offered on Tuesday, the day of the award, byĪn extensive syndicate, at prices ranging fromġ00.486 for the 1927 maturity, with a yield of 3.75%, Bids were received aggregating nearly $700,000,000, ranging from 100.25 for all syndicate for 101.0589, realizing for the city a On Tuesday of this week $75,000,000 New YorkĬity corporate stock was sold to a National CityĬo. Other collapses is apparently evidence of the soundness of the larger part of the market structure. Than occurred in the declines on Monday and cause This collapse did not produce more general effect Nevertheless, there is no evidence that they are characteristic of the general situation, and the fact that More numerous at the present time than desirable, Seems, through speculative purchases with the motive of selling out at a high level and failed in their Speculators, or pool, accumulated this stock, it Nor was the market manipulation carried on by thoseĬlosely associated with the company. The sky-rocketing nor the collapse in this stock hadĪny connection with the affairs of the company, Of this kind can only with difficulty be ascertained.Ĭurrent information is to the effect that neither There wasĪ further sharp decline on Monday, to below 50, and
It then tumbled to 60%,Ī net decline for the day of 37% points. On Saturday it opened at 91,Īfter having closed on Thursday (Friday havingīeen a holiday) at 97%. Sold as high as 1041 8 During the next two days it On Wednesday, the 10th, Devoe & Raynolds stock Past week there has been vivid proof of the dangerous position occupied by certain individual securities which have been bid up by speculative purchases Market as a whole is over-bought, but during the Which had made conspicuous advances in the previous week. Large number of issues on subsequent days, including further notable advances in some of the stocks Has been at times demoralized, with heavy liquidation on Monday, but with substantial recovery in a To creep higher, notwithstanding the bringing out Office of Coĭuring the past week bond prices have continued Jacob soibert Business Manager, William D.
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#VALUE OF AUTO ORDNANCE 1927 A1 IN .22 LR FULL#
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