Business & Finance: Stockholder Dumbfounding

William Crapo Durant and Samuel Insull dumbfounded their stockholders last week.

Mr. Insull extended a courtesy to stockholders of his Commonwealth Edison Co. at Chicago. The annual meeting was scheduled, but stockholders were not expected to attend, for as is usual with great corporations, the shareholders express their votes through proxies. Yet many of Mr. Insull's people wished to know what would happen at this meeting. He let them know directly and immediately, as though they were actually present, by radio-broadcasting the entire proceedings of the meeting.

Mr. Durant blandly blamed his stockholders for his Durant Motors Inc. losing $3,618,649. Said he: "During...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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