Public; A Journal of Finance, Commercial Interests and Political Science Volume 12

Public; A Journal of Finance, Commercial Interests and Political Science Volume 12

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1877 edition. Excerpt: ...six per cent interest? The city of Savannah may reasonably expect to regain her prosperity; her reoeipts of cotton so far this year are large, and will probably continue to be so; the state of Georgia has just made her old seven per cent bonds worth 106 in the market, by shouldering in full her acknowledged obligations, and paying interest promptly as it falls due, and for her leading commercial city to adopt now any measures savoring in the slightest degree of municipal repudiation would be a policy almost suicidal. Let the city credit be maintained at the highest point; pay off maturing seven per cent obligations with the proceeds of new loans at six per cent, and if on the first of January, 1879, it is honestly found that a further concession from bondholders is required, they will more readily reduce their rate of interest to five per cent than they would now sc de the principal of their bonds one-twentieth of their face value. John B. Manning. City Bonds.--On Monday the comptroller opened for $10,000 "Assessment Bonds of the City of New York," recently authorized by the Board of Estimate and Apportionment. They are to bear interest at the rate of five per cent per annum, payable May and November 1 of each year, and the principal to be redeemable November 1, 1880. Spencer and His Bank.--According to statements of a Chicago Times correspondent at Windsor, Canada, Messrs. Guild and Bulkley say that Spencer perhaps mismanaged but certainly never misappropriated money intrusted to the bank; that he took nothing away, and is to day a poor man. They agree that the bank has been made to pay the exorbitant price paid by Spencer for the stock which made him president, and that he carried matters with a high hand, refusing to close at...
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Product details

  • Paperback | 278 pages
  • 189 x 246 x 15mm | 499g
  • United States
  • English
  • black & white illustrations
  • 1236761456
  • 9781236761453