MANAGEMENT: The Colt Mystery

A prime mystery of World War II is Hartford's famed Colt's Patent Fire Arms Manufacturing Co. Colt, as the biggest of all prewar U.S. gunmakers, had a backlog of $30,000,000 in orders when war came. And stockholders remembered that in 1917 Colt had paid a fantastic $60 cash dividend, later tossing in a 100% stock dividend to boot. But in March 1944, Colt stockholders got another kind of shock. For the first time in 27 years, Colt paid no dividend. On April 20 came shock No. 2. Up to board chairman went...

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