Word: freshened
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Dates: during 1940-1949
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...Freshen the nip: pour yourself another...
...aristocratic, silver-mustached H. Hobart Porter, suggested selling $5,000,000 of new West Penn bonds, $2,500,000 of preferred stock. SEC told him that since West Penn's common stock amounted to only 22.9% of its $121,383,501 of capital and surplus he ought to freshen the kitty. Instead of fighting or calling it all off, Water Works and SEC traded, compromised. The $4,000,00 of new stock raises the common-stock share of West Penn's capital to 24.6%, gives the public a 5.5% minority interest in Water Works' biggest baby...