Word: shared
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Dates: during 1930-1939
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...First Boston Corp. The presence of First Boston (see p. 52) irr what was otherwise a pure Mellon deal could be explained by the fact that that big underwriting concern plays banker to Eastern Gas & Fuel. Though the Mellons bought 236,000 of Virginian's 312,700 shares of common, they did not acquire a voting majority, the road's preferred stock (279,550 shares) also having voting rights. In point of voice in the carrier's affairs the Mellons got about 40%, which is enough to dominate almost any railroad's council. Among the fantastic...
last year originated or participated in bond or stock flotations footing up to nearly $4,000,000,000. Its share of these underwritings was $318,532,000. Last week, like any corporation president, First Boston's Colonel Allan Melvill Pope, who learned to dispense with an office desk during his 17 years in the Army, mailed out his annual report...
...deep enough for a world record, C. Offered last week by Kuhn, Loeb & Co., Lehman Bros, and a syndicate of 72 banking houses were $40,000,000 worth of 15-year 3^% sinking fund debentures of Tide Water Associated Oil Co. Also underwritten were 500,000 shares of $4.50 cumulative convertible preferred stock. Until Feb. 8, holders of Tide Water's 626,221 shares of 6% preferred will have first call on the new preferred, which unlike the old carries voting rights. They may exchange old for new on a share for share basis plus $2 in cash. Thus...
...Reflecting company estimates of a potential reserve of at least 100,000,-ooo bbl. in its new field, Barnsdall stock in six weeks was moved up from $20 to $34 per share. C In ancient Teheran, capital of Iran (Persia), word leaked out that Seaboard Oil Co. had acquired exploration and exploitation rights to 180,000 sq. mi. of Iranian territory...
...approached Seaboard. formed the exploration companies, gave Seaboard a 51% interest. Mr. Hart then began to palaver in Kabul and Teheran. Biggest stockholder in Seaboard Oil (32%) is Texas Corp. Last week Texaco filed a registration statement with the Securities & Exchange Commission for the issuance of 1,557,000 shares of common stock, to be offered to Texas stockholders at about $40 a share on the basis of one new share for each six held. Market price of Texas common last week was $52. Of the estimated $62,000.000 proceeds from its new issue Texas will use a big slice...