Premature President

It is not unusual for an officer of a company to assure shareholders regarding a future dividend. Usually the assurance turns out to have been well founded, as when last autumn Vice President George A. Ranney of International Harvester Co. said the dividend would be held at $2.50. But sometimes an officer speaks in order to help the price of the stock or before sounding out the directorate. Lately, shareholders have become wary of official statements. Last week their remaining faith received another jolt. On Sept. 29,...

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