Excerpt from Stock Exchange Practices, Vol. 6: Hearings Before the Committee on Banking and Currency, United States Senate, Seventy-Third Congress, First Session; Chase Securities Corporation (Continued), October 20 to November 10
Mr. Pecora. Now Mr. Morgan, in this prospectu... s appears the following statement, if you will notice: The total funded debt of the Republic as of the end of the fiscal year, June 30, 1929, was exclusive of 20 million dollars public works 5% percent serial certificates outstanding, of which was external. Floating indebtedness as of the same date amounted to approximately 5 million dollars.
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