Word: stockings
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Dates: during 1920-1929
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Seven Railroads: 1) Atchison, Topeka & Santa Fe rose from 197¼ to 275, a gain of 77¼ points. On the basis of 2,416,293 shares of stock outstanding, this was an increase of $186,658,634 in the market value of the company's common shares. 2) Chesapeake & Ohio rose from 218½ to 274, a gain by similar calculations of $65,542,170. 3) Great Northern preferred,* from 111 to 123½ or $31,193,325. 4) New York Central, from 188 5/8 to 241¾, or $246,362,682. 5) New York, New Haven & Hartford...
Several years ago Squibb (always a fairly close corporation) permitted a number of retailers to buy shares of participating preferred stock. The present plan goes much farther. From the retailer's standpoint it works in some such fashion as this...
...made annual purchases of $500 a year from Squibb he is allowed to buy ten shares (at $50 each) of the 6% cumulative Distributors Preferred stock of a new company, Squibb Plan, Inc. With each $50 he puts in, Squibb Plan buys a share of the parent company's common, now paying $1 a share in dividends†. In addition Squibb Plan receives a sum from the parent company equal to 10% of the amount of the retailer's purchase of Squibb products and an additional 10% on the increase of his purchases over the previous year...
Squibb Plan thus would have an income of $10 on the common stock it bought with the retailer's money. If the retailer's purchases come to $600 in the next year, Squibb Plan gets 10% ($60), and another 10% ($10) on the increase in the retailer's purchases. So all told Squibb Plan gets $80. Out of this it pays the retailer 6% ($30) on his money. Of the remaining profit ($50) half goes back to the parent company and the rest ($25) is prorated among the retailers in proportion to the amount of their direct...
...Squibb also has a plan for installment stock purchases by employes...