Word: 75â
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Customers stepping in to the red-fronted United Cigar stores for a package of cigarets last week noted no change in the usual displays. But ticker-tape watchers suspected that something was wrong when nearly 200,000 shares of United Cigar stock were sold between $1.50 and 75?? a share?most active issue of the day. Their suspicions were correct. United (primarily a holding company) and one of its real estate subsidiaries went into voluntary bankruptcy. Assets of the two concerns were listed at $18,200,000 against liabilities (including "possible...
...wild life survey by three Senators (Nevada's Pittman, Connecticut's Walcott, Missouri's Hawes) with their salaried assistants cost $1,983,67. Among the itemized expenses were: motorboat hire, $60; mineral water, $31; Minnesota fishing licenses, $22; one spoon hook, $1.25; three sinkers, 15¢; can of minnows, 75?...
Agriculture, The Farm Board was flayed for "stabilizing wheat from $1.25 per bu. down to 30¢, corn from 75?? per bu. down to 20¢, cotton from 15¢ per Ib. down to 5¢, wool from 20¢ per Ib. down to 7¢" at a public cost of $500,000,000. But Senator Barkley's only concrete suggestions were to lend the farmers more money like "other forms of industry and finance" and to "take the Government out of the dubious adventure of speculation in farm products...
...last week continued to reflect worry about dividends, some notable pullings took place. American Smelting & Refining Co. passed its 7% preferred dividend for the first time since the company was formed in 1899; it also passed its 6% preferred. Borden Co. (milk) declared a 50¢ dividend against a previous 75?? quarterly rate. Public Service Corp. of New Jersey cut wages and dividends by 6%, making the new rate $3.20 against $3.40 yearly. Electric Power & Light Corp. passed second preferred and common dividends despite reported earnings of $9,265,000 for the twelve months ending March 31. Aetna Life Insurance...
...Stratosphere is a rarefied layer, presumably 20 mi. deep, encountered about eight miles above the earth's surface. The temperature is curiously stationary: about ?75?? F. About 40 mi. beyond the stratosphere is the mysterious Heaviside Layer of ionized gases, from which radio waves "bounce" like light rays from a mirror...