Business & Finance: Tobacco Performance

In a barren fourth-floor office at No. 75 Montgomery St., Jersey City, N. J. some 200 men & women representing the 40,000 stockholders of American Tobacco Co. assembled last week for conference. They had been invited by their president, George Washington Hill, to elect directors and to approve the acts of the directors in granting stock-purchasing privileges to officials, especially a grant of 53,000 shares at $25 a share made in 1930 (when the stock was selling at $112).

Paul Hahn, assistant to the president, read to the assemblage a letter from President Hill:...

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