Fifteen years ago a bond salesman was a cocksure college athlete who sold securities on his name, his nerve, his funny stories. Today he seldom jokes, needs tact and a knowledge of bonds rather than nerve. Fortnight ago, the U. S. bond salesman of 1940 had a chance to prove his skill. The job: to sell $108,000,000 of Southern California Edison 3% bonds at 104 to yield 2.78%a lower yield even than most top-flight municipal bonds.
S. C. E. is a compact electric system serving 1,580,000 people in & around Long Beach, Calif. It has an unbroken dividend record,...
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