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Excerpt from The Principles of Bond Investment
But for the securities of manufacturing and industrial companies generally, investment principles degenerate in to a series of caveats, until it seems as if the only dictum of common application is the caution caveat emptor, "let the buyer beware."
It is no reflection on the class of securities called Industrial Bonds that they do not receive treatment in these pages. The inference is merely as implied above, that the conditions governing their issuance are not sufficiently uniform for safe generalization. It is felt that this statement still applies to the bonds of electric light companies, although they are strictly of the Public Utility type. Therefore no chapter on Electric Light Bonds has been included. Telephone companies are now emerging from the construction stage of development into the investment stage; but until present corporate relationships are altered a frank discussion of Telephone Bonds is invidious discrimination. It is hoped that no other omissions are of sufficient importance to require explanation.
Whatever has been accomplished in this book is due in large measure to the unstinted cooperation of many people, both friends and strangers. But no one except the writer, and no firm, is responsible for any expression of opinion or statement which is open to dispute. Mr. Walter H. Lyon has generously fulfilled the offices of long friendship by reading much of the manuscript. In certain textual matters Mr. Thomas L. Cole has lent his ripe scholarship and critical taste. In matters of law Mr. Lyon and Mr. Alfred D. Chandler have given invaluable aid by criticisms and suggestions, and by the loan of published and unpublished material. Mr. Montgomery Rollins' veteran experience in bond mathematics, literature, and practice and his kindly interest have been freely drawn upon. Mr. Charles A. Hobbs has also materially improved the chapters on mathematics, particularly the work in logarithms...
But for the securities of manufacturing and industrial companies generally, investment principles degenerate in to a series of caveats, until it seems as if the only dictum of common application is the caution caveat emptor, "let the buyer beware."
It is no reflection on the class of securities called Industrial Bonds that they do not receive treatment in these pages. The inference is merely as implied above, that the conditions governing their issuance are not sufficiently uniform for safe generalization. It is felt that this statement still applies to the bonds of electric light companies, although they are strictly of the Public Utility type. Therefore no chapter on Electric Light Bonds has been included. Telephone companies are now emerging from the construction stage of development into the investment stage; but until present corporate relationships are altered a frank discussion of Telephone Bonds is invidious discrimination. It is hoped that no other omissions are of sufficient importance to require explanation.
Whatever has been accomplished in this book is due in large measure to the unstinted cooperation of many people, both friends and strangers. But no one except the writer, and no firm, is responsible for any expression of opinion or statement which is open to dispute. Mr. Walter H. Lyon has generously fulfilled the offices of long friendship by reading much of the manuscript. In certain textual matters Mr. Thomas L. Cole has lent his ripe scholarship and critical taste. In matters of law Mr. Lyon and Mr. Alfred D. Chandler have given invaluable aid by criticisms and suggestions, and by the loan of published and unpublished material. Mr. Montgomery Rollins' veteran experience in bond mathematics, literature, and practice and his kindly interest have been freely drawn upon. Mr. Charles A. Hobbs has also materially improved the chapters on mathematics, particularly the work in logarithms...
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From the Publisher:
The principles of bond investment are offered as a service to both bond sellers and bond investors. From a strictly academic standpoint, the development of bond investment is a science. Covered here are: channels of investment, including classification and description of bonds; civil loans; corporation loans; the mathematics and movement of bond prices; the classes of investors and bond houses; and the taxation of bonds.
From the Inside Flap:
This book presents a comprehensive early view of the principles of investment and reveals how bonds conform to them. Bonds had become a new channel of investment to meet the necessities of early American finance. Bond investment has been elevated to an applied science. This Second Edition is divided into six parts: Channels of Investment; Civil Loans; Corporation Loans; The Mathematics and Movement of Bond Prices; Investment Organization; and Taxation of Bonds. This detailed treatment should be of great interest to those involved in the world of finance as well as those merely interested in how bonds entered the financial scene and their scope and nature.
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- PublisherForgotten Books
- Publication date2018
- ISBN 10 1330016785
- ISBN 13 9781330016787
- BindingPaperback
- Number of pages571
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The Principles of Bond Investment (Classic Reprint)
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Book Description Paperback. Condition: New. Print on Demand. Excerpt from The Principles of Bond Investment. About the Publisher, Forgotten Books publishes hundreds of thousands of rare and classic books. This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value. The digital edition of all books may be viewed on our website before purchase. print-on-demand item. Seller Inventory # 9781330016787_0
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