TRADE: Plum

Since 1934 Chicago's mammoth Marshall Field & Co., depression-riven, has had its face lifted. Shorn of its wholesale division, many a retail outlet and mill, the company turned a 1937 deficit of $1,654,452 into a 1938 profit of $3,492,238. Last week, with three-quarters earnings of $1,718,458 up 58% from 1938, blue-eyed chubby-cheeked President Frederick Dexter Corley offered a plan and a plum to stockholders.

The plan: to clear up, the $9 a share accrued on 287,225 preferred shares, exchange of each old 6%, $100-par preferred share for ½ share of new preferred and 2¾ common. The plum if the deal goes...

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!