Trusts Term Notes

The reader will, we trust, not have been misled here by the use of the terms Fire, Water and Earth, but will have noted that the Fire is sometimes Water, while the latter is sometimes Earth. This distinction is essential, for we are told that the contrary natures of fire and water have to be made to love one another vehemently, which they will readily do, after purification, in their earth. 

The main disadvantages of deferred listing are twofold (a) any comments/insertions required by the exchange where the notes are to be listed to the offering circular—and, in particular, the terms and conditions of the notes—could involve having to get noteholder s consent to amend the terms and conditions of the notes and the trust deed, leading to further time delay and (b) for the period the notes remain unlisted, there may be less liquidity in the relevant market as any targeted purchasers will have to be those investors who can buy unlisted securities. 

This volume does not offer history. Instead it provides certain elements -indicators -- that may be useful to individuals interested in the history of American chemistry and chemical industry, and suggestive for policy. Statisticians may properly be distressed by the lack of technical sophistication in the pages that follow. Sociologists will deplore our cavalier use of certain terms. Historians can rightly deprecate our failure to focus on the unique, and on the individual. Scientists should note our inability to take the measure of their ideas, and purists of all kinds will unite in abhorrence of our resort to guesstimates , approximations, and interpolations. Even so, we trust some people will find some use in some of what is reported here. 

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