Business: Flats Fixed

Last year after Depression deficits of $21,000,000 had frayed the fiscal treads of B. F. Goodrich Co., its president, James Dinsmore Tew, decided it was time for the rubber firm to get a new set of financial tires. He asked his stockholders to approve a new $45,000,000 first mortgage of which $28,000,000 was to be raised immediately. Of this sum $6,000,000 was for working capital to finance increasing business and $22,000,000 was to reduce interest charges by retiring 5 ½%, 6 ½% and 7% obligations of Goodrich and its subsidiary, Hood Rubber. This plan...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!