One of the most active blue-chip stocks in the bull market has been General Motors. Its phenomenal 1949 earnings ($14.65 per share) and dividend ($8), plus a good first quarter in 1950, plus the news of G.M.'s five-year contract with the U.A.W., sent it to a 21-year high of 90¾ last week. This week G.M.'s directors took an action which will probably increase the stock's turnover. They proposed that the 43,945,133 shares currently outstanding be split two for one.* If approved by the stockholders, the change would give G.M. the largest number of...
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