Business: Dodge Financing

Dillon, head of the banking firm of Dillon, Read & Co., does not believe in letting the grass grow under his feet. Within a week after he had purchased the Dodge Brothers

Automobile Co. (TiME, Apr. 13), he had rechartered and recapitalized it, had begun the sale of the new corporation's securities.

The capitalization of Dodge Brothers, Inc., will consist of $75,000,000 of convertible, sinking-fund debentures; 850,000 shares of 7% cumulative preference stock and 2,000,000 shares of common stock. The first public offering made in connection with the Dodge financing has consisted...

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