Farmer's magazine (January-December 1920) . classificationhas for its basis considerations re-lating to the payment of interest. Onmost bonds the payment of interest isunconditional, , if any interest in-stallment is not paid, the issue goeainto default. In the case of income bonds, how-ever, interest does not have to bepaid if it is not earned by the it is provided that if any sub-stantial part of the interest on an in-come bond issue is earned in any year,it must be paid. If all unpaidinterest on an issue is made payableout of the earnings of future years,the issue is cum
Farmer's magazine (January-December 1920) . classificationhas for its basis considerations re-lating to the payment of interest. Onmost bonds the payment of interest isunconditional, , if any interest in-stallment is not paid, the issue goeainto default. In the case of income bonds, how-ever, interest does not have to bepaid if it is not earned by the it is provided that if any sub-stantial part of the interest on an in-come bond issue is earned in any year,it must be paid. If all unpaidinterest on an issue is made payableout of the earnings of future years,the issue is cumulative; if not, it isnon-cumulative. Income bonds arelargely a product of re-organizations,resulting from the necessity of re-ducing fixed interest charges for there-organized corporations. WHEAT PARTICIPATIONCERTIFICATES Bring your certificates to this Bankand we will collect for you the initialpayment of 30 CENTS PER BUSHELauthorized by the Wheat Board. ssa THE CANADIAN BANKOF COMMERCE PAID-UP CAPITALRESERVE FUND $15,000,000$15,000,000. Head Office, Toronto What Will You Leave-Life Insurance or Debts? WriU jor details of our Conlinuous Monthly Income Policy Excelsior Life Insurance Co. Excelsior Life Building, Toronto
Size: 1357px × 1841px
Photo credit: © The Reading Room / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookdecade1920, booksubjectagriculture, bookyear
