Word: discount
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Dates: during 1930-1939
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When President Roosevelt signed the debt-bill last week he was less interested in these purely hypothetical limits than he was in a provision which authorized the Treasury to sell discount securities in small denominations. These baby bonds in units as low as $25 will be sold through post-offices or "otherwise," in a grand drive to place some of the Government's towering debt in the hands of bona fide investors instead of in commercial banks. Appropriate fanfare is planned for March 1 when Secretary Morgenthau will sell to President Roosevelt Baby Bond...
...Manhattan's $575,000,000 Chemical Bank & Trust was originally chartered 112 years ago to manufacture "blue vitriol, alum, alcohol, tartar emetic, refined camphor, borax, copperas, drugs, medicines, paints and dyers' colors." Like its elder rival, Chemical got into banking by opening an office of ''Discount & Deposit...
Specifically old Governor Moret was dropped last week because he rejected a proposal by Premier Flandin to give business a shot in the arm. The proposal let the Bank of France announce that it will re-discount short-term Treasury bonds, issuing new currency or opening deposit accounts against the paper received. Since this operation in effect reduces the gold cover behind French money (now 80,1390 it tends to be inflationary. To M. Flandin's proposal M. Moret had but one answer, a quiet "mais non." Last week there was every indication that M. Tannery will...
...Manhattan Co. laid its wooden water mains and sold pure and wholesome water for nearly 50 years but its "Discount & Deposit'' office promptly became the only private competitor of Hamilton's Bank of New York. The ways of Aaron Burr and his Manhattan Co. soon parted, he to high adventure and a trial for treason, the little water company to a long and honorable history...
Membership in the club at $10 and $20 a year entitles the student to fly in the club ship for about $8 an hour, or in commercial planes at a considerable discount...