Word: stockings
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Dates: during 1920-1929
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...Millionaires," the "Giants," were Jobless Herbert Bayard Swope and Lawyer Thomas Lincoln Chadbourne. As students of finance know, they had come to London to combat the recent decision (TIME, April 1) of British General Electric Co., Ltd., to restrict a forthcoming stock issue to British citizens exclusively. This plan aroused much opposition on both sides of the Atlantic. One British M. P. even denounced Sir Hugo Hirst, British G. E.'s managing director, as "a super-patriot of German origin"-the reference being to the fact that Sir Hugo, though now a Britisher, was born in Munich...
...known, however, that Sir Hugo has proposed a compromise arrangement by which U. S. shareholders can exercise their rights in the new issue, provided that they sell their new shares within ten weeks. This arrangement permits U. S. shareholders to benefit by the bonus character of the new stock, but makes no concession to the principle of the U. S. right to hold British G. E. shares...
...been established. Yet this corporation is not primarily in the hotel, the steamship, the agricultural or the pedagogic business. It is a railroad company, which operates more than 20,000 miles of line, thousands of miles more than any U. S. railroad.* Known on the Manhattan Stock Exchange by the symbol CD, it is more generally referred to as Canadian Pacific Railway...
...born Henry Worth Thornton (TIME, Jan. 28) has lifted Canadian National out of the annual deficit class. No deficit problem has Canadian Pacific. In 1928 it showed a net operating income of over $51,000,000 and net earnings of over $48,000,000. Its common stock earned $15 a share. Canadian Pacific has a 1929 high of 267⅞, is thus selling at 17.8 x earnings. U. S. railroads traditionally sell at around ten times earnings, but in Canada there is no Interstate Commerce Commission and no recapture clause to limit a road's earnings on its investment...
...young men who were excited by the report that Horace Greeley had made his New York Tribune earn $60,000 in one year. These founders-Henry Raymond and George Jones, both Tribune men, the one editorial and the other business-set the Times going with 100 shares of common stock, each of which they dared to believe might, sometime, be worth...