UNITED SPATES STEEL
ISSUE OF DEBENTURES
COI'iPIDENCE IN THE FUTURE
NEW YORK, May 4.
(Received May 5, at 0.15 a.m.) United States Steel announced that it will place on the market in June 100,000,000 dollars in 10-year debentures to erase bank loans and complete its modernisation and expansion programme. This represents the largest issue of new public financing by any industrial concern since 1929. Financial quarters have accepted it as evidence of the management's unshaken confidence in the future, and predicted that it may bring a broad revival in capital markets.
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Otago Daily Times, Issue 23492, 5 May 1938, Page 11
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91UNITED SPATES STEEL Otago Daily Times, Issue 23492, 5 May 1938, Page 11
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