Word: common
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Dates: during 1940-1940
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...between two ' neighboring countries. In time the King family became allied with the vigorous and aggressive Klebergs, the Atwoods, the Armstrongs, and the great landowners of south Texas-a hearty, traveled, prosperous and sophisticated people, who might be called landed aristocrats if they had not had much in common with common working ranchers...
...equipment makers, tired of waiting, took new business offered by other sectors of defense. American Car & Foundry filled part of its echoing, long-empty car sheds with $21,500,000 in tank orders, which (along with nearly $30,000,000 of shells, armor plate, etc.) almost put its common back into the black. American Locomotive got $38,000,000 of Army orders, paid off $5 a share on preferred arrears. Even Pullman, ever faithful to the rails, took on some arms work. If defense traffic sends the roads into the equipment market next year, they will find a crowd ahead...
...made money at it. Soon he began to tell his friends about his North America Investment Fund, Inc., of his success in increasing its original $100,000 assets to over $1,000,000 by 1929. They bought $165,000 worth of its preferred stock. The common was good for loans from conservative National Bank of Germantown & Trust Co., from big, respectable Philadelphia National Bank...
...Scarlet Lady of Wall Street." Exhausted, the Erie had collapsed three times by 1895. Then she reformed. Under Van Sweringen control, she became a respectably operated road. But her capital structure never really recovered from Jay Gould's attentions, and she never again paid a dividend on the common. In 1938 Erie chugged into receivership (whither eleven Class I roads had preceded her) for the fourth time...
With the Supreme Court's Los Angeles lumber case to guide it (TIME, Dec. 18, 1939), the ICC in reorganization cases has recently shown little mercy to common stockholders whose equity is under water. Its plan for the Missouri Pacific last January wiped the common out entirely. Last spring it worked out a plan for Erie. To placate the two major interests- which had been bickering since Erie fell into receivership-ICC effected a compromise. The interests: 1) the Erie bondholders; 2) the C. & O., which held 56% of the voting power. The compromise: capitalization would be slashed from...