Last week the directors of Fairbanks Morse & Co. declared a $3.50 dividend of their preferred stockfirst in three-and-a-half years. The venerable Chicago industrial concern is largely a producer of durable goods. From 1929 to 1932 annual sales dropped from $31,500,000 to $8,500,000, and total Depression losses footed up to $8,000,000.
Diesel engines are the most important product in the long Fairbanks, Morse line normally accounting for about one-half of total sales. Electric motors, generators and appliances rank second. Fairbanks Morse is one of the biggest pump-makers in the U. S. It supplies railroads...
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