In 1929 taurine whoops generally greeted any company's offer of rights to buy new securities. This year has seen a reverse trend. Electric Power & Light shares dropped sharply last month, when the company sought to raise $21,000,000 from stockholders. Simms Petroleum made the unique gesture of offering stockholders rights to sell 12½% of their holdings back to the company at a price level with the market. And last week when Radio-Keith-Orpheum Corp. announced plans to raise much-needed cash from its stockholders there were angry mumblings, threats of legal action.
The RKO plan...
To continue reading:
or
Log-In
