Proceedings of the Board of Regents (1936-1939)

ANNUAL JUNE MEETING, 1939 957
6M Ecorse Township, Wayne County, Michigan, School District No. 9 of, Refunding, Series "B," 2/2% to September 1, 1940, 3% to September 1, 1943,
4% to September 1, 1946, 434% thereafter, dated September 1, 1937, due
September 1, 1966. Sold at 62.31. Book value, $3,540.00; sales price,
$3,738.60; profit, $198.60. Not rated.
$783.72 Ecorse Township, Wayne County, Michigan, School District No. 9 of,
Certificates of Indebtedness (Bearer Form), without interest, 3% after maturity. Sold at 53 flat. Book value, $391.86; sales price, $415.37; profit,
$23.51. Not rated.
$3,296.87 Erin & Lake Townships, Macomb County, Michigan, Fractional School
District No. 5, Certificates of Indebtedness, non-interest-bearing prior to maturity, 5% thereafter, dated December 1, 1937, due December 1, 1947. Sold
1M at 46 flat, 1M at 47.50 flat, 1M at 48.50 flat, $296.87 at 44 flat. Book
value, $1,648.44; sales price, $1,550.62; loss, $97.82. Not rated.
10M Farmington Township, Oakland County, Michigan, School District No. 6 of,
Refunding, 3% to April 15, 1941, 4% to April 15, 1946, 5% thereafter,
dated April 15, 1936, due April 15, 1966. Sold at 82.50. Book value,
$7,000.00; sales price, $8,250.00; profit, $1,250.00. Not rated.
7M Ferndale, Michigan, Refunding, Series "F," 3% to December 2, 1940, 32 %
to December 2, 1942, 4% to December 2, 1947, 4/4% to December 2, 1950,
434% thereafter, dated December 2, 1935, due December 2, 1965. Sold at
90.80. Book value, $6,300.00; sales price, $6,356.00; profit, $56.00. Moody's
rating "B."
$787.50 Ferndale, Michigan, Certificates of Indebtedness, Series "D," without
interest, 5% after maturity, dated December 2, 1935, due December 2, 1945.
Sold at 65. Book value, $511.88; sales price, $511.88. Moody's rating "B."
12M Northville, Village of, Michigan, Special Assessment, Refunding, 3% to
April 1, 1941, 3V2% to April 1, 1944, 334% to April 1, 1946, 4% to April
1, 1948, 434% thereafter. Sold at 99.07. Book value, $10,800.00; sales price,
$11,888.40; profit, $1,088.40. Not rated.
1M Orion Township, Oakland County, Michigan, School District No. 12 of, Refunding, 3% to December 15, 1941, 4% to December 15, 1946, 5Y4% thereafter, dated December 15, 1936, due December 15, 1966. Sold at 99.50. Book
value, $750.00; sales price, $995.00; profit, $245.00. Not rated.
20M Pontiac, Michigan, Refunding, Series "A," 4/2%, dated March 1, 1934, due
March 1, 1964. Sold at 99.03. Book value, $19,650.00; sales price, $19,806.00; profit, $156.00. Moody's rating "B."
16M Pontiac, Michigan, Refunding, Series "B," 4'2%, dated March 1, 1934, due
March 1, 1964. Sold at 99.03. Book value, $15,720.00; sales price, $15,844.80; profit, $124.80. Moody's rating "B."
11M Redford Township, Wayne County, Michigan, Union School District No. 1,
Refunding, Series "A," 2% to January 1, 1940, 3% to January 1, 1945, 4%
to January 1, 1950, 5% thereafter, dated January 1, 1937, due January 1,
1965. Sold at 55. Book value, $7,150.00; sales price, $6,050.00; loss,
$1,100.00. Not rated.
30M Royal Oak, Michigan, Refunding, Series "A," 2% to October 1, 1940, 3%
to October 1, 1945, 3/2% to October 1, 1950, 4% to October 1, 1955, 4%/2
thereafter, dated October 1, 1935, due October 1, 1965. Sold at 50.30. Book
value, $15,900.00; sales price, $15,090.00; loss, $810.00. Not rated.
42M Royal Oak, Michigan, School District of, Refunding, Series "A," 3% to
October 1, 1941, 3X2% to October 1, 1944, 4% to October 1, 1947, 4%/2
thereafter, dated October 1, 1935, due October 1, 1965. Sold at 76.28. Book
value, $31,500.00; sales price, $32,037.60; profit, $537.60. Not rated.
20M Royal Oak Township, Oakland County, Michigan, School District No. 8 of,
Refunding, Series "A," 3% to April 1, 1941, 3'/2% to April 1, 1944, 4% to
April 1, 1947, 4Y2% thereafter, dated April 1, 1936, due April 1, 1966. Sold at
75.31. Book value, $14,600.00; sales price, $15,062.00; profit, $462.00. Not
rated.