Tardy was many a corporation in reporting earnings for the first quarter of 1930, for most corporations had earning shrinkages to announce and the poorer the earnings, the later a report is likely to be. It remained, however, for David Sarnoff s Radio Corp. of America to dispense with any announcement whatsoever by getting permission from the Stock Exchange to omit a first-quarter statement. Exchange rules call for a periodic report of earnings, do not specify quarterly reports. But Radio Corp. was admonished not to omit a first-half report and also to issue...
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