Word: hartfords
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Dates: during 1950-1959
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...world's biggest grocery, The Great Atlantic & Pacific Tea Co., last week announced plans to give shareholders outside the Hartford family a vote in how the family-controlled corporation will be run. Some 19% of A. & P. stock is now held by the public, but the shares carry no regular voting power. The move is the first step in what Wall Street believes is a plan for the heirs of A. & P. Founder George H. Hartford* to sell part of their 81% stock interest in the food chain (last fiscal year sales: $4.8 billion...
...only a single issue of A. & P. stock of 21,639,206 shares outstanding (of the 28 million authorized) when the changes are approved. Each share, both family and publicly held, will carry one vote. More shares will probably be offered later. In addition, the heirs and the Hartford charitable foundation are expected to lighten their holdings in order to diversify their investments or for inheritance tax purposes...
...Four of Founder Hartford's grandchildren and a great-granddaughter each own 10% of the voting stock. They are George Huntington Hartford II, theatrical producer and art fancier, of Manhattan; Mrs. John F. Bryce of Manhattan; Mrs. Charles Robertson of Huntington, L.I.; Mrs. Allan J. Mclntosh of Bedford Village, N.Y.; and Mrs. Henry G. Carpenter of Shelter Island, N.Y. Five other descendants each own 2% of the outstanding voting stock, and another 40% is in the John A. Hartford Foundation set up by brothers John and George Hartford (TIME...
ALOISE BUCKLEY HEATH West Hartford, Conn...
...VOTING STOCK, owned until now by heirs of founding Hartford family, is expected to go on mar ket shortly. Wall Street reports that Hartford heirs will sell; that non-voting common now in public hands will be split ten for one and given a vote; that non-voting preferred will be exchanged for voting common...