Word: ratas
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Prescriptions & Precedents. The judge's own prescription is much easier to swallow. Voting rights for some 43 million shares of G.M. stock held by the Du Pont company would pass to Du Pont shareholders on a pro rata basis (about 1⅓G.M. votes for each share of Du Pont held). Another 20 million shares would be "sterilized," i.e., not voted at all. These are the shares held by the officers and directors of Du Pont and the two other Du Pont family-controlled companies: Delaware Realty & Investment Co., which controls Christiana Securities Co., which in turn controls...
Instead, the company offered to hand over all voting rights on Du Pont-held G.M. stock to its 185,000 stockholders on a pro rata basis. The family-controlled Christiana Securities Co. and Delaware Realty & Investment Co., which together own 29% of Du Pont, would do the same for their 4,000 stockholders. Du Pont would also promise not to buy any more G.M. shares, and would have no directors on G.M.'s board without specific court approval. "What would remain," said Du Pont, "would be an investment...
...make Du Pont give up its General Motors stock, the Government's trustbusters last week proposed their plans for the divorce. They asked that Du Pont be ordered to transfer its 63 million shares (23% worth $2.5 billion) to trustees, who would then distribute 60% on a pro rata basis to Du Pont common stockholders, sell the remaining 40% held by Du Pont holding companies after first offering it to Du Pont's common stockholders. None of the stock would be given or sold to the Du Pont family-controlled Delaware Realty & Investment Co. or Christiana Securities...
Last week's combine makes it a giant. As operator and controlling owner (more than 50%) of Kermac Nuclear Fuels Inc., the company will pool the reserves of two other companies with its own into one big combine, process the ore, split the profits on a pro-rata basis...
...Charles R. Blyth, Banker William W. Crocker, Broker Marco Hellman, Publisher (San Francisco Chronicle) George Cameron, Paper Magnate J. D. Zellerbach. These men have developed a practical method for handling annual deficits : holders of top-price season tickets (931 this year) pledge $50 each, get charged on a pro rata basis when the season's deficit is added up (last year: a nearly nominal $36,000). Cost of each year's new production (from $20,000 to $50,000) is covered by the active Opera Guild...