The Work of the Bond House

by Lawrence Chamberlain

Overview

Many of the earliest books, particularly those dating back to the 1900s and before, are now extremely scarce and increasingly expensive. We are republishing these classic works in affordable, high quality, modern editions, using the original text and artwork.

Product Details

ISBN-13:	9781893122765
Publisher:	Beard Books, Incorporated
Publication date:	09/20/2000
Series:	Business Classics (Beard Books)
Pages:	164
Product dimensions:	5.06(w) x 8.07(h) x 0.49(d)

Table of Contents

Chapter I.	The Functions of the Bond Houses	9
	The Importance of the Bond Business
	Ignorance of the Bond Business
	Prevalence of Bond Buying in New England
	Bankers vs. Brokers
	The Functions of the Bond Houses
	The Purchasing Function
	The Advisory Function
	The Banking Function
	The Bond Houses as Fiscal Agents
	The Selling Function
	The Protective Function
Chapter II.	The Purchasing Function	28
	Bond Investment as a Science
	Laboratory Methods
	Special Counsel
	One Man Buying
	Financial Report Agencies
	Railroads as Scientific Financiers
	Buying to Satisfy Clients
	The Professional Standard
	The Effect of Interest Rates on Bond Buying
	Stock Bonuses
Chapter III.	Buying Municipals	41
	The Ten Investment Elements
	The Principal Function of the Bond Houses
	Municipal Buying
	The Buying of "Legals"
	The Bond Attorney
	The Selling Cost and Price of Legals
	Carrying Charges
	Unintelligent Proposals for Municipals
	Municipal Bond Bureaus
	General Market Municipals
	Municipal Defaults
Chapter IV.	Buying Railroad Bonds	56
	Common Characteristics of Railroad and Municipal Bonds
	Railroad Bond Underwriting
	Underwriting by Retail Houses
	The Profits of Underwriting
	A Pennsylvania Railroad Flotation
	Railroad Blanket Refunding Issues
	Equipment Bonds
	Railroad Bond Investment
	Proprietorship and Management
	Community of Interest
	Management
	Physical Characteristics
	Earning Power and Capitalization
Chapter V.	Buying Corporation Bonds	74
	What Corporation Bonds Are
	Classification of Bonds
	Corporation Bond Investment Principles
	Knowing the Business of the Corporation
	Water Companies
	Gas Companies
	Street Railways
	The Income of Public Service Corporations
	Bond Houses as Specialists
	The Newness of Corporation Bonds
	Industrial Issues
	The Competition for Public Utility Bonds
	The Preference for Public Utilities
	The Profit in Corporation Bonds
	Costly Distribution
	Construction Propositions
	The Bond Houses as Reorganizers
Chapter VI.	The Advisory Function	91
	Advising a Woman
	The Ethics of Salesmanship
	Financial Jackals
	English Selling Methods
	Financial Advisory Systems
	Bond Advertising
	General Publicity
	Advertising Investment Principles
	Special Circulars
	Investment by Correspondence
Chapter VII.	The Protective and Banking Functions	104
	The Mercantile vs. the Protective Policy
	The Spirit of Trusteeship
	Bond Guaranty
	The Cost of the Guaranty
	The Protective Function Applied to Marketability
	The Cost to Clients of Artificial Marketability
	Bonds as Collateral
	The Banking Functions of the Bond Houses
	The Cost to Bond Houses of Artificial Marketability
	The Bond Houses as Banks of Deposit
	The Protective Function Applied to all Bond Qualities
	Protecting Security
	Assuming Losses
	Protection in Reorganization
Chapter VIII.	Selling Bonds--The Banker's Viewpoint	119
	The Development of Bond Selling
	The Trouble with Bond Selling
	The Cost of Selling
	The Profit in Specialty Selling
	Failures from Competition and Miscarriage of Issues
	Selling Economies: Consolidation of Houses
	Local Representation
	Bank Representation
	The Economy of Selling Collateral Trusts
	Consolidation of Issues not Houses
	The Selling Department of an Ideal Bond House
	The Sales Manager
	Territorial Managers
	The Road Men
	College Men as Salesmen
	The Training of Green Men
Chapter IX.	Selling Bonds--The Investor's Viewpoint	137
	The Strength of the Investment Demand
	Savings Banks as Bond Buyers
	The Volume of Municipal Bond Sales
	Annual Listings on the Exchange
	The Obscure Issues
	The Investor Should Know His Own Requirements
	Complex Nature of Security
	Complex Nature of Marketability
	Second Consideration: Form of the Investment
	Third Consideration: Proper Type of Bond
	Fourth Consideration: The Proper Bond
	Choosing a Bond House
	Index	150