Business & Finance: Tip-Top Bread

Last week a lawyer scuttled into the office of Baltimore's tax commissioner a few minutes before closing hour and filed an application for a state charter to incorporate. He represented an organization wishing to call itself Ward Food Products Corporation, with ten million shares of no-par-value common stock and ten millions of preferred, which the directors reserved the right to buy in at $110. Potentially this capitalization was two billions, one of the largest in the world. The lawyer deposited a check for $40,700 in taxes and scuttled out as fast as he...

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