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The directors of Colgate-Palmolive-Peet Co. met last week to discuss their company's dividend.* After they decided to lower it from $2.50 annually to $1 they told Charles Schuveldt Dewey to make the announcement. Onetime unofficial financial adviser to Poland, Mr. Dewey has served C-P-P as vice president in charge of finance for six months. To explain the dividend reduction he said: "The Company has over a long period and by the expenditure of large sums of money, placed its brands in the forefront. . . . The company contemplates continuing its advertising campaign...

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