The Organization and Management of a Bond House

Bond house is the name used to denominate a partnership or corporation formed or organized to buy and sell evidences of municipal or corporation debt.All bond houses are also banking houses in that they advance money to municipalities and public cor- porations, and their business is distinguished chiefly from other banking in that they do not transact commercial business.In this country the name bond house, by custom, has come to apply to those houses which endeavor to sell bonds strictly on the investment value by advertisement, circular letters and personal solicitation, as distin- guished from banking houses, which accept deposits and deal in other securities as well as bonds; and from brokerage houses, which deal in bonds but on a commission basis only.The organization of a bond house comprises: First, a buying department; second, a selling department, and, third, a financial department.The duties of these departments may be analyzed

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