Only three years ago, the Glenn L. Martin aircraft company was a dying duck. Its liabilities exceeded assets by $105,000; the company owed more than $50 million, and was losing money at the rate of $22 million a year. But last week, when Martin directors issued their third-quarter report, the once-dying duck looked like an eagle. The company had earned $7.6 million, or $3.37 a share, and would probably earn $9.50 for the whole year. To celebrate, the directors voted the first cash dividend ($1 a share) since 1947, and as a bonus,...
To continue reading:
or
Log-In
