Word: bylaw
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Dates: during 1927-1927
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Beginning. In 1919 minority stockholders in the Ford Motor Co., including Senator James Couzens of Michigan, sold their shares to Henry Ford for about $12,500 a share. They had to prefer him to outsiders, if he wanted their securities, according to a company bylaw. He did want their stocks. But before they sold they asked Daniel C. Roper, then U. S. Commissioner of Internal Revenue, to evaluate their stocks for purpose of income tax. Commissioner Roper did them the favor; judged each share of Ford Motor Co. stock to be worth $9,489 in 1913, the year from which...