Word: investors
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Dates: during 1930-1939
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...genius when it comes to a gasoline motor, Multi-millionaire Kettering is No. 3 man in the world's largest automobile concern, runs GM's great research laboratories. From last week's testimony, however, it soon became clear that he is a better inventor than investor. To Mr. Kettering, in the spring of 1930, went two hale fellows, Ralph W. Simonds.of Baker, Simonds & Co. and Luther D. Thomas of Detroit's Fidelity Trust. They and their firms were sponsoring an investment trust called Yosemite Holding Corp. On their recommendation "Boss" Kettering bought through them...
Such good news for Curtis shareholders was slightly soured by Mr. Fuller's calculation that each share of the $7 preferred stock had paid 23% of its earnings in taxes, leaving a dividend of only $4.75 for the investor. Recapitulating, Mr. Fuller also gave it as his gloomy opinion that "Federal, State and local taxes will increase this percentage in the future...
...personal trustee is supposed to act like a mythical character called the "prudent man." That implies active defense of the beneficiaries' interests and a definite liability for losses through negligence. But the combined skill of lawyers representing the borrower, the banker and the trustee (but never the investor) have reduced the duties of corporate trusteeship to a few clerical motions, the liabilities to virtually nothing. Moreover, SEC found that "subtle influences of friendship and business relations" tended to make the trustee "a timid and ineffectual representative of security holders...
...name of the biggest U. S. clockmaker has never appeared on the face of a U. S. clock-General Time Instruments, Inc. Last week for the first time this name appeared on the New York Stock Exchange. As unfamiliar to the average investor as to the average clock owner, GTI is known by its two chief subsidiaries, Western Clock Co. ("Big Ben") and Seth Thomas Clock Co. of Thomaston, Conn. These two old family enterprises were put together in 1930 to form the company which now accounts for one-third of the entire U. S. clock business. Instead of celebrating...
...idea of holding them to maturity would not suffer from lower prices. The suckers would be those who bought at high levels and who decided to sell during a national boom, when interest rates are generally high, bond prices low. Investment bankers are thinking about that type of investor already. Fortnight ago in Manhattan, Kuhn, Loeb & Co.'s Hugh Knowlton wound up a speech to the Financial Advertisers with a highly logical argument for future use. This smart, sharp-nosed young banker, who was trained in the law and got into finance by way of Paul Warburg...