Word: also
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Dates: during 1950-1959
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Harsh & Punitive. It was clear to LaBuy that the Government's plan would depress Du Pont stock by eliminating the huge dividends that the company is paid by G.M. (1958 total: $116 million). By forcing Du Pont to sell 2,000,000 G.M. shares yearly, it would also flood the market with G.M. stock, depress the price of G.M. More important to LaBuy was a ruling by the Internal Revenue Service that any G.M. shares spun off to Du Pont stockholders would be taxed at the full market value as ordinary income...
...Among G.M.'s 33 directors, five are also directors of Du Pont: Du Pont Chairman Walter S. Carpenter Jr., Du Pont Vice President Lammot du Pont Copeland, Du Pont Vice President Henry B. du Pont, Emile F. du Pont and Donaldson Brown...
...they saw were cars ranging from Italy's tiny $1,070 Vespa Deluxe to Rolls-Royce's most expensive model, the $26,000 Phantom V, designed for "important guests and executives," with a TV set, figured French walnut woodwork and air conditioning that adjusts automatically. There was also a multifuel engine, designed for trucks and military vehicles, that Britain's Rootes Group claims will run on "anything from lighter fuel to Scotch whisky...
...automakers were also busy last week bringing their standard 1960 models to market. Ford Motor Co. unveiled its 1960 line to the public, showed 15 models that are the longest, lowest and widest that Ford has ever built. The company also announced factory list prices for its compact car, the Falcon. A two-door model will list for $1,746 v. $1,810 for Chevrolet's Corvair; a four-door Falcon will list for $1,803 v. $1,860 for a Corvair. For its imported line Ford showed a restyled, British-built Anglia with a four-cylinder engine that...
...recently most of the cash came from the State Building Society, a publicly owned savings-and-loan association supported by small depositors and designed to help people buy their own homes. Its motto: The Horn of Plenty. The horn was easily tapped by Jasper & Co. through Grunwald, who was also a lawyer representing State Building; he arranged for the Society to lend to Jasper on mortgages. All told, it lent Jasper $21.2 million of its currently estimated $40 million in assets, some $10.3 million without any security. To get around a law requiring that building societies list separately every mortgage...