The late Russell Sage paid Western Union the compliment of observing that only once in a lifetime might a man hope to buy its stock below $50 a share. Until 1931 Western Union bulls used to make great play with this remark, which indeed held true for many a lifetime ended before that year. Since then there have been frequent opportunities to buy Western Union at prices well below $50. Its first 1937 dip below that price occurred fortnight ago, when, after dropping steadily from a year's high of $83.50, Western Union slid to...
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