In his small office in Wilmington, Del., E. Herbert Tinney performed an annual rite. A onetime accountant for Price, Waterhouse & Co., Herbert Tinney earns $5,700 a year as the only paid officersecretary and assistant treasurerof Christiana Securities Co. Last week he sent out Christiana's annual report. In 1948, the company had netted $28.4 million, a substantial gain over the $23.3 million earned in 1947. For each of Christiana's 150,000 common shares, this was an earning of $182.72. Tinney mailed out all but 2¢ a share of this to Christiana's select little band of 3,186 common stockholders.
That gave Christiana...
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