¶To encourage loyalty among its employes Manhattan's National City Bank allowed them in 1929 to purchase some 50,000 shares of its stock at the specially low price of $200 per share. Last week most of the employes completed their payments, took title to their stock, soon to be reduced in par value from $20 to $12.50 and now selling in the open market at about $19. The day last week's payment was due a number of National City's loyal employes resigned. Reason: by leaving the employ of the bank before the stock was...
To continue reading:
or
Log-In
