The sensation of last week in the stock market arose from the passing of the 7% dividend upon American Woolen common. Dividends on the stock at a rate of 5% were inaugurated April 15, 1916; on Oct. 15, 1919, the rate was raised to 7%, which has been paid ever since. The Company's statement attributed the dividend action to "the severe depression in the textile industry"; American Woolen itself is probably experiencing the most trying period since its formation over 25 years ago. The day before the dividend was passed, the stock "acted...
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