Word: fors
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Dates: during 1930-1939
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Promptly from Mr. Willkie to the news services went an angry reply: Commonwealth & Southern had offered a year ago to pay up to $60 for Consumers stock, said he. Both SEC and the Michigan Public Utilities Commission had ruled that it could buy the stock at book value.
From the Washington front, another gun began firing from an unsuspected emplacement. For probably the first time in his checkered career Cyrus Eaton found he had old, reforming Senator George Norris on his side. "The Power Trust." said the frail Senator in a prepared statement, "is caught at its old...
Senator Norris is no longer as young as he once was, and his remarks made less than no sense. Electric rates are not based on per share stock prices; they are based on the total amount of money invested (or supposed to be invested) in the business. Nor could Commonwealth...
The object of the deal was to put $3,500,000 into Consumers Power, which recently dedicated a new 35,000-kilowatt plant at Kalamazoo, is constructing a new 70,000-kilowatt plant in Bay City. This will fatten up the equity in Consumers Power in preparation for issuance of...
"If Otis & Co. is really interested in buying common stocks of utility companies for investment purposes, they can purchase at book value . . . the stock of the Detroit Edison Co. . . . They can likewise buy the stock of Consolidated Edison Co. of New York ... at approximately 60% of book value. ..."