Word: dividend
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...third stage could make a useful tactical ballistic missile (TBM) with 500-to 1,000-mile range; its second and third stages would combine to make a 1,500-mile IRBM for use from such close-in bases as those in Europe and Formosa. But the big new dividend of solid fuel is that Minuteman missiles can be fired from Soft, deep, concrete-lined and steel-capped underground cylindrical chambers -"inverted silos...
...Board Chairman Robert R. Young won a belated victory last week. After a bitter, 2½-year battle between Young and Randolph Phillips, a former associate, the U.S. Supreme Court cleared the way for one of Young's pet projects: a plan to wipe out $18 million in dividend arrears to preferred stockholders of Young's Alleghany Corp., which has working control of the Central with 973,500 shares of stock. Under the plan, each share of Alleghany's 5½% preferred stock would be exchanged for ten shares of new 6% preferred, convertible to common stock...
...unprofitable passenger traffic one of the least desirable. But Young talked as if his mere presence would banish trouble and nurture prosperity. For a while, it seemed as if Young would repeat the success he had with the coal-hauling C. & 0. The Central went on a $2 annual dividend basis; costs were cut and income boosted. Central's stock shot up from 23 to 49½; Young confidently predicted that it would go to 100, and urged his friends to get in while the getting was good...
Down the Road. Bob Young's golden moment soon passed. Like every other U.S. road, the Central was caught in the nationwide rail slump. Fortnight ago the Central's directors voted not to pay the quarterly dividend. The railroad's earnings had plummeted along with the stock, which reached a low of 13¼ last week. Bob Young, who had borrowed heavilyto buy the 100,000 shares of Central stock he owned, was forced by lenders to sell as the price skidded lower. By year's end he had unloaded all but a few thousand...
...Hollywood really through? This year, average weekly movie attendance is down to 44.2 million from a peak postwar average of 82.4 million, according to Sindlinger & Co. Universal Pictures Co., Inc., which will pay stockholders a respectable dividend (25? a share) this quarter and has declared a 25?extra dividend, this month fired some 400 of its 1,300 permanent employees, announced that it was "taking time out for a reappraisal," meantime would live off its 32 unreleased films...