Word: shared
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Dates: during 1930-1939
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Having pulled Radio Corp. of America to a high of $549 per share in the most spectacular pool operations of the New Era, Mike Meehan was certainly vulnerable when the great decline set in. How much of his fortune, once estimated at anywhere from $5,000,000 to $25,000,000, was lost in the next few years, no one who knows will tell. Presumably the figure was big enough to bother even optimistic Mr. Meehan. His firm did some heroic retrenching in the way of lopping off branch offices, including those at sea on crack transatlantic liners. But reports...
...earnings looked rosy for the first quarter of 1931, but additional funds were acutely needed by autumn, and something had to be done to avoid receivership. The Class A stock which sold as high as $50 per share in 1930, was selling at $12 by October 1931, later fell...
...stave off collapse, a recapitalization plan was put forward in November 1931, providing for reduction of capital stock by 75% and the issuance of new stock and ten-year 6% debentures totaling $11,600,000. Stockholders, principally Radio, approved of the plan, which gave them one new share for four old ones...
Admittedly, the classics have taken more than their share of blows ever the last few years, but logic, one of the classical virtues, can hardly defend the present system. Even Professor Rand, our own Matthew Arnold, would admit that. And an examination in their Latin given at the end of the college course might discourage even the most persistent advocate of this new Caesarism...
...ledgers under the table, replied: "That's difficult to say. The books are here for inspection." Adjusting his horn-rimmed glasses, he read "these figures from our treasurer": Tide Water's estimated net income for the year, $11,000,000. Available for common stock dividends, $1.26 per share. Last year the profits on common were 73? per share...