Word: dividend
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Last summer Thomas Cochran, J. P. Morgan & Co. partner, about to sail for Europe, spoke unwarily to a newspaper reporter, predicted that by the summer of 1928 General Motors common stock would be worth $300 a share (TIME, Aug. 16). Then General Motors declared a 50% stock dividend. If the revaluated G. M. C. stock reached $200, Mr. Cochran's prediction would be intrinsically accurate. Last week that contingency happened-G. M. C. stock sold on the New York Stock Exchange at $200.50 a share...
...General Motors directors, who last week declared a regular quarterly dividend of $2, also declared above and beyond that an extra quarterly dividend of $2. On April 1, the corporation had $150,000,000 in current cash and negotiable securities...
Other diversions of the meeting: Judge Gary, to emphasize that there were brains in the corporation, patted President James Augustine Farrell on the head-strenuously. Of dividends on the increased stock, the Judge said: "The dividend, I believe, will be 1% [as at present]." Scientist Robert Andrews Millikan will direct the corporation's research laboratories. Luncheon consisted, as usual, of sandwiches, apple, coconut and pumpkin pies, ice cream and coffee...
...year 1911 I was badly hurt in a railroad collision-near Armour's Station on the Southern railroad. The company promptly paid me $2,000-to get my old self doctored-and it was this money that I invested with the Bank of Donaldsonville. being promised a 10% dividend by Hon. J. S. Shingler, multi-millionaire of Ashburn, Ga., and its president." Mrs. Felton then told how -she had not received one cent of dividends and how she had appealed to the State banking commission, to the State Supreme Court, to the Governor. They did nothing to help...
...Treasury Andrew W. Mellon's Mellon National Bank has more deposits ($145,414,409) than his Union Trust Co. ($128,639,172). Union Trust employes assuage their pride by realizing that their industry brings their bank vast profits. Out of these, their directors last week declared a quarterly dividend of 50%, which is of course the equivalent of 200% a year. George Fisher Baker's First National Bank in Manhattan yields but 100% dividends yearly...