Preferred Profits

Many a U.S. corporation makes fancy future savings nowadays by buying its own preferred stock at fire-sale prices. The New York Stock Exchange this week reported that in August alone 30 Big Board companies were reacquiring their own preferred stock—usually at prices far below par. And all over the U.S. thousands of smaller concerns were busily picking up their own preferred at discounts of 10 to 75% on the dollar. Examples:

> So far this year Gillette Safety Razor has bought 9,049 shares of its preferred stock (redeemable at $105 a share)....

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!