Business: Meaningless Meeting

Early one morning last week about 400 stockholders of Bethlehem Steel Corp. were en route to Newark, N. J., where the annual meeting was scheduled. Few would have thought of going had not it been known that at this meeting the management would ask for approval of a resolution upholding the much-argued Bethlehem bonus plan, that a minority interest might protest, ask pertinent questions. Yet that very morning Vice-Chancellor John H. Backes had signed an order which made much of the meeting meaningless. He ruled that while the stockholders might vote, the...

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