The E. I. du Pont de Nemours & Co. recently declared a 40% common stock dividend on its 950,609 shares of common $100 par stock, thus increasing the issue to 1,330,852. Shortly before, the stockholders had voted to increase the authorized common stock issue from 1,000,000 to 1,500,000 shares, or from $100,000,000 to $150,000,000.
Behind the declaration of this $38,000,00 "melon" lies a story. According to the company's statement, the stock dividend serves to capitalize an increase in the company's surplus of about $36,000,000 arising from appreciation of the General Motors stock held by...
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