Word: withington
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Dates: during 1950-1959
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...most-publicized college fad in history started on March 3, 1939, in the Harvard Union, when freshman Lothrop Withington, Jr., '42, goaded by a bet with his roomates, downed a goldfish never to be upped again. Pocketing a wager of $10 in good 1939 currency for his efforts, the Yardling thus ushered in a two-month period, which "Time Magazine called "among the maddest in the annals of U.S. Undergraduates...
Like many another small investor, John J. Smith, a 38-year-old accountant, thought he had a winning stock. It was Sparks-Withington Co. (Sparton radio and TV sets), right in his own home town of Jackson, Mich. Three years ago Smith bought 500 shares at $5.50 a share, kept adding to his holdings until he had 2,200. Then he sat back and waited to cash in. But the stock went down. Though the company grossed $17 million in fiscal 1949, it netted only $25,709. The dividend: 10? a share. Smith got hopping mad, got hold of Theodore...
Last week President Smith made his first report. In the last half of 1950, said he, Sparks-Withington's sales jumped to $14 million v. $8.6 million in the 1949 period. Earnings: $515,991. Since Smith took over, he has expanded advertising, cut costs, and snagged business that had been going to subcontractors. Smith's new board of directors declared a 20? dividend...