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30 - London, New York, Amsterdam, Paris: Correspondence between American Telephone and Telegraph Co, Barings, Kidder Peabody, Hope and Co and Spitzer & Co

Object Type: Asset
In Folder: 01 - Boston

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30 - London, New York, Amsterdam, Paris: Correspondence between American Telephone and Telegraph Co, Barings, Kidder Peabody, Hope and Co and Spitzer & Co

Relates to the issue of US$25m 4% collateral trust mortgage bonds 1929 of the American Telephone & Telegraph Co by Barings and Kidder Peabody with the participation of Hope & Co, and Spitzer and Co. With details of the loan capital of the company and the initial interest of JP Morgan & Co; Barings’ insistence to be sole issuer in London and to have control in Europe; negotiations for the issue price and decision to issue at 96.5 in Boston and 99.5 in London; negotiations for underwriting; terms of prospectus and letter to shareholders; the need to impress company of British and European interest in order to secure future business; the subscription in London below expectations but good response in United States and issue fully subscribed; subsequent dealing in Paris bonds in New York and the action of Barings and Kidder Peabody; further requirements of the company up to $150 million but the need for good terms in order to secure European interest; the need for Speyer involvement in future business.

Catalogue

Reference Number: HC5/01/30

Description: Relates to the issue of US$25m 4% collateral trust mortgage bonds 1929 of the American Telephone & Telegraph Co by Barings and Kidder Peabody with the participation of Hope & Co, and Spitzer and Co.With details of the loan capital of the company and the initial interest of JP Morgan & Co; Barings’ insistence to be sole issuer in London and to have control in Europe; negotiations for the issue price and decision to issue at 96.5 in Boston and 99.5 in London; negotiations for underwriting; terms of prospectus and letter to shareholders; the need to impress company of British and European interest in order to secure future business; the subscription in London below expectations but good response in United States and issue fully subscribed; subsequent dealing in Paris bonds in New York and the action of Barings and Kidder Peabody; further requirements of the company up to $150 million but the need for good terms in order to secure European interest; the need for Speyer involvement in future business.

Date: 1905

TBAL Reference: HC5.01.30

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