Word: greenewalts
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Hardship Case. "Unfortunately," says Du Pont President Crawford Greenewalt, "the burden of the Supreme Court decision falls not on Du Pont as a manufacturing entity but on the stockholder." If Du Pont sold its G.M. stock on the market over the next decade, the sales would almost double recent New York Stock Exchange volume in G.M. stock every business day for the whole ten years, and would depress both Du Pont and G.M. stock prices. Alternatively, Du Pont could distribute its G.M. stock to Du Pont stockholders in place of or in addition to regular cash dividends-at a ratio...
...would have to pay hefty income taxes on the distributed stock, would also suffer a decline in the value of their Du Pont stock because of the divestiture. Since many are in higher-income brackets, the taxes would average out at an estimated 55% to 60% a share. President Greenewalt guesses that about half the distributed G.M. stock would have to be sold to pay taxes...
This is the season when gift books abound in the land-all expensive, all flossy, some gimmicky, some good. Among the good: The Discovery of the World, by Albert Bettex, a handsome history of exploration; The Lithographs of Chagall, with 237 fine reproductions; Hummingbirds, by Crawford H. Greenewalt, with superb photos and readable monographs by, of all people, the president of E. I. du Pont de Nemours & Co. For givers under no compulsion to bedazzle, there are also plain books. Among the best recent ones...
HUMMINGBIRDS, by Crawford H.Greenewalt (250 pp.; Doubleday; $22.50), may become a classic of natural history. Author Greenewalt, president of mighty E. I. du Pont de Nemours & Co., has written a monograph, understandable to laymen, on his hobby-hummingbirds. Greenewalt offers some intriguing hummingbird lore, including the fact that they are the only birds that can hover with body motionless, and the only ones that have a " 'reverse gear' which enables them to fly backwards as prettily and efficiently as they can forwards." What will most excite bird watchers as well as plain readers is the crisp, full-color...
...Secretary of the Army; Erwin D. Canham, editor of the Christian Science Monitor; James B. Conant, president-emeritus of Harvard and onetime Ambassador to West Germany; Colgate W. Darden Jr., former president of the University of Virginia, former Governor of Virginia and member of Congress; Crawford H. Greenewalt, president of E. I. du Pont de Nemours & Co.; General Alfred M. Gruenther, president of the American Red Cross and onetime Supreme Allied Commander in Europe; Retired Judge (U.S. Circuit Court of Appeals) Learned Hand (who in October withdrew from the commission because of illness); Clark Kerr, president of the University...