Business & Finance: Air Split

When, last week, directors of Air Reduction Co. recommended a 3-for-1 split-up of its 835,000 shares, many a trader did the following problem in simple arithmetic :

In 1920, when Air Reduction stock moved over from the Curb to the Big Board, 100 shares could have been purchased for $3,200. In 1928 the stock was split 3-for-1. Last week the new stock was up to $172. Thus the original holding of 100 shares at $32 had grown to 300 shares at $172, and a $3,200 investment had reached a market value of $51,600. The...

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