Word: premiums
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Dates: during 1930-1939
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Certain other issues had a better fate last week, notably that of Continental Can Co. whose $20,000,000 of preferred stock, offered at $100 a share, went at a premium of $102, to the vast delight of Goldman, Sachs & Co. Similarly, a new firm named Lane-Wells Co. (which owns a unique process of "blowing in" oil wells with something called a "gun-perforator") successfully sold 40,000 shares at $15 each in its first public financing to the joy of Hartley Rogers & Co. But Continental Can is unusually strong and Lane-Wells enjoys unusual earnings. Other companies, less...
...Board of Fund Commissioners sold $3,000,000 worth of State building bonds to Baum, Bernheimer Co., a Kansas City bond house, at an "emergency" private sale. St. Louis bond dealers, who had not been given a chance to bid, charged that the State lost $50,000 on the premium of $100,000 paid by Baum, Bernheimer. St. Louis' Post-Dispatch made the most of it, pointed out that the same sort of thing had happened twice in the previous administration and the new Governor...
...Mike Jacobs has. A peanut peddler and candy butcher on Coney Island excursion boats, Mike Jacobs first began doing business with Rickard in 1916 when Rickard moved into New York with the Jess Willard-Frank Moran championship fight. Jacobs bought up a huge block of tickets, paid Rickard a premium and sold them for a profit. Years later, as boxing promoter at Madison Square Garden, Rickard was supposed to have continued the practice on a far larger scale. By controlling the fighter, promoting the fight and speculating in his own tickets at his Broadway ticket agency, Jacobs has now perfected...
...bond houses in the U. S. The next $2,000,000 lot, however, was not opened to public bidding but sold privately in March 1936 to Baum, Bernheimer Co. of Kansas City. Other bond houses were not slow to point out that the State lost about $20,000 in premiums on this deal. But last September the State Board of Fund Commissioners again sold $2,000,000 worth of bonds privately, again to Baum, Bernheimer and again at a lower premium than the bonds would have brought in public sale...
...they would be opened to competitive bidding. Lulled by the Governor's words, they woke up shocked and angry last fortnight when the State Board of Fund Commissioners blandly announced the sale to Baum, Bernheimer Co. of the last $3,000,000 worth of building bonds at a premium of $100,000. Governor Stark was vacationing in Alaska...