Word: shared
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Dates: during 1930-1939
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...interests of the company's stockholders are represented by 75,000 shares of preferred having a market value of about $9,375,000, and 850,000 shares of common stock having a market value of about $60,000,000. Thus, on the basis of the composite opinion of investors as reflected in market prices, the company is "worth" $69,375,000. ... To put the matter another way, according to Mr. Brown's exposition each share of common stock was "worth" on December 31, 1936, about $31. Yet Mr. Brown's report points out that the company...
Every man who ever fumed about the phone bill had reason last week to be pleased. Every man accustomed to getting $9 a share in annual dividends on his American Telephone & Telegraph Co. common stock had reason to be anxious. For, in the most far-reaching and drastic report of its kind ever submitted to Congress, Federal Communications Commissioner Paul Walker recommended that telephone rates be cut 25%, and that FCC be given more absolute control over A. T. & T. than any Government agency has ever held over any U. S. industry except in time...
...case-the test of the constitutionality of the registration requirement of the Public Utility Act of 1935. By a vote of 6-to-1 (sick Justice Cardozo and Freshman Justice Reed not participating; Justice McReynolds, as expected, dissenting) the Court upheld SEC in its test suit against Electric Bond & Share...
...utility pyramid into a single geographically integrated system with only one intermediary company allowed between the top holding company and actual operating subsidiaries. When most of the utility business refused to register, SEC agreed to hold the Act in abeyance while it brought a test case against Electric Bond & Share. In court, however, SEC attempted to limit the test solely to the registration feature. E. B. & S. lost twice in lower courts and last week it failed again to get a complete judgment on the Act. Reading the majority opinion, Chief Justice Hughes refused to consider anything but the issue...
...1920s an unhappy man named A. M. Johnson, head of National Life Insurance Co. of the U. S. A., bought for his company 11,050 shares of Continental Illinois Bank & Trust Co. In 1929 Continental sold as high as $1,020 a share. In 1933 a share of Continental could be bought for precisely $1,000 less; Mr. Johnson's National Life Insurance Co. was, not surprisingly, in receivership. General Robert E. Wood of Sears, Roebuck & Co., which sells about everything else, decided that this was the time to go into the life insurance business. He formed Hercules Life...