Word: kolster
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Absolved. Rudolph Spreckels, San Francisco financier: of charges of "rigging the market" in Kolster radio of which he was board chairman, and withholding information from stockholders. Said Special Master in Chancery John A. Bernhard: "The question is: were Mr. Spreckels and his associates under a moral or legal duty to disclose to stockholders the disposition of their shares? ... I have concluded they were under no legal obligations...
Most of the stock traded in on the San Francisco Exchange are western companies some of which, like Transamerica, Standard Oil of Calif., Pacific Lighting, Union Oil, Kolster Radio, Richfield Oil, Southern Pacific, California Packing, Pacific Gas & Electric, are well-known in the East. Of the 50 firms registered as members five are firms originating in New York, eleven firms originating in San Francisco but with seats on the New York Exchange...
...Francisco speculators, badly hurt when Bancitaly collapsed in 1927, had hardly recovered when last fall's crash took place, carrying Kolster through a decline much greater than the average. Perhaps for this reason, plus the fact that there is never a large short interest in San Francisco stocks, trading for the first quarter was approximately 20% below that of the first three months last year. But San Francisco brokers, unperturbed, confidently await full development of "The Empire of the West...
Ellery W. Stone, Kolster Radio...
...Kolster Radio Corp., down from 78¾ to 15.* Bear argument: Small earnings, keen competition to come from the new General Motors-General Electric-Westinghouse-Radio Corp. manufacturing combine...