Profitable Wraith

Like the ghost of a bad debt, the rumor that Soviet Russia might some day pay off the defaulted dollar bonds of the Tsars has haunted Wall Street for years. To speculators it is a highly profitable wraith.

For the past month it has floated about the Street again. As usual, prices of the bonds shot up in a flurry of trading on the New York Curb Exchange.

The 5½% bonds (due in 1921) which sold for $55 per $1,000 less than three weeks ago went up to $197.50 in a week, stayed near...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!