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The Principles of Bond Investment The Principles of Bond Investment
By Lawrence Chamberlain and George W. Edwards
1999/10 - Beard Books - Business Classic
1893122220 - Paperback - Reprint -  711 pp.
US$34.95

Enlightening basics on the nature of bonds and the science of investing in them.

Publisher Comments

Category: Banking & Finance

This title is part of the Vulture Investing list.

Of Interest:

The Work of the Bond House

Railroads: Finance & Organizations

Foreign Bondholders and American State Debts

Foreign Bonds: An Autopsy

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 back cover blurb:

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.

No book review available

W. Lawrence Chamberlain, banker and author, 1878-1961. He received an A.B. in 1902 and an A.M. in 1903 from Yale. He entered the bond business in 1906 and was employed by a number of securities firms. He was a director at various fund groups.

Other Beard Books by Lawrence Chamberlain

George William Edwards, economist, 1891-1954. He received an A.B. in 1911 from the College of the City of New York, and an A.M. in 1913 and a Ph.D. in 1917 from Columbia University. He was a professor of banking at Columbia and at New York University, and became the Dean of the School of Business and Civic Administration at the College of the City of New York, 1927-1932, and Chairman of the Department of Economics, 1927-1947. He was also with the Federal Reserve Board and Director of the Institute of International Finance. He authored numerous books on banking and finance.

PART ONE: CHANNELS OF INVESTMENT

I. Introductory 3
II. Gambling, Speculation and Investment 8
III. Elements of an Ideal Investment 14
IV. Diversification an Investment Principle 29
V. Stocks versus Bonds 37
VI. Channels of Investment 45
VII. Bonds versus Mortgages 52
VIII. Listed versus Unlisted Bonds 68
IX. Classification and Description of Bonds: According to the Character of the Obligor 75
X. Classification and Description of Bonds: According to the Security of the Bond 78
XI. Classification and Description of Bonds: According to the Purpose or Function of the Issue 105
XII. Classification and Description of Bonds: According to Conditions Attending Payment or Interest and Principal 110
PART TWO. CIVIL LOANS
XIII. Nature of Civil Loans 123
XIV. Foreign Civil Loans 127
XV. United States Bonds 136
XVI. State Bonds: The History of State Debts 148
XVII. State Bonds: The Elements of Security 164
XVIII. County Bonds 179
XIX. City and Town Bonds: Municipal Assets 199
XX. City and Town Bonds: Municipal Liabilities 225
XXI. City and Town Bonds: Validity and Good Faith 245
XXII. The Bonds of Tax Districts 265
PART THREE: CORPORATION LOANS
XXIII. Railroad Bonds: Legal Protection and Physical Conditions 277
XXIV. Railroad Bonds: Earning Power and Income Account 287
XXV. Railroad Bonds: Valuation and the Capital Account 298
XXVI. Equipment Trust Obligations 305
XXVII. Steamship Bonds 326
XXVIII. Public Utilities Securities 332
XXIX. Street Railway Bonds 354
XXX. Gas Company bonds 379
XXXI. Water Company Bonds 398
XXXII. Hydro-Electric Power Company Bonds 408
XXXIII. Telegraphy and Telephone Bonds 423
XXXIV. Real Estate Bonds 442
XXXV. Industrial Bonds 457
XXXVI. Bonds of the Federal Farm Loan System 479
XXXVII. Timber Bonds 490
XXXVIII. Reclamation Issues 502
PART FOUR: THE MATHEMATICS AND MOVEMENT OF BOND PRICES
XXXIX. The Mathematics of Bond Values 521
XL. The Use of Bond Tables 542
XLI. The Keeping of Investment Accounts 562
XLII. Bond Prices in Relation to the Business Cycle 573
PART FIVE: INVESTMENT ORGANIZATION
XLIII. Classes of Investors 595
XLIV. Bond Houses 603
PART SIX: TAXATION OF BONDS
XLV. The Classification and Description of Taxes 615
Bibliography 667
Index 673

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