Business: PWA Municipals

Already waist deep in the commercial banking business, the Federal Government last week for the first time set itself up as a dealer in municipal bonds. Public Works Administrator Ickcs has on his shelves some $58,000,000 of such securities which he bought to finance labor-making projects. Like any smart bond dealer he saw in the present municipal bond boomlet a fine opportunity to turn over his capital. Last week while financial sections of the Press blossomed with municipal bond advertisements, Bond Dealer Ickes offered for public sale his first batch of PWA municipals:...

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