Money for investment being plentiful and bond sellers active, the sale of, U. S. corporation and municipal and foreign corporation and governmental bonds reached a new record total the first quarter of this year—$1,687,038,500 ($1,241,863,000 first three months of 1926).
J. P. Morgan & Co. headed the syndicates, selling $169,640,000; Kuhn, Loeb & Co. $161,803,000; Harris, Forbes & Co. $108,184,000. These firms were "wholesalers," who sold chiefly to financial institutions.
Great "retailers," whose chief business was directly with investors, and the total of bond issues...
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