Word: guth
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Dates: during 1930-1939
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...suit was against its onetime president, jut-jawed Charles Godfrey Guth, who in 1931 had bought for his own account a controlling interest in, Pepsi-Cola Co., a puny contender in the soft-drink market (annual sales about $33,000). By whirlwind promotion, including sales in Loft...
...stores, President Guth fizzed up its sales until by the end of 1935 he was able to report a net for the year of $464,000. Loft filed suit for his 237,500 shares (91%) of Pepsi-Cola stock, contending that it had been bought with Loft money, developed with Loft resources...
Last year, Delaware's Court of Chancery finally decided that Pepsi-Cola belonged to Loft, not to Mr. Guth. Then Phoenix' president, 43-year-old Walter S. Mack Jr., a director of Loft, became president of Pepsi-Cola Co. When he looked into the books which Mr. Guth had previously kept well hidden, he found a thriving business. For the first nine months of 1938 Pepsi-Cola had turned in a net profit of $2,700,000; its stock was selling at $70 a share (it is now $190). (For the same period Loft lost...
Loft stock, which had been selling at 75? in March 1938, zoomed to $9 on the court decision, has since been one of the market's liveliest issues. Last week the Delaware Supreme Court turned down Mr. Guth's appeal. That day Loft was the most active issue on the New York Stock Exchange, with sales of 87,600 shares, closed...
...mighty" lift to Loft, the decision not only handed it Pepsi-Cola but ordered Mr. Guth to turn over back dividends of some $475,000. Mr. Guth was reported interested in a new dark, sweet soft drink. Name: Noxie-Kola...