Business & Finance: Weber Hits Back

A month ago the New York Stock Exchange discovered that of the $92,000,000, "U. S. Government and other marketable securities," which Allied Chemical & Dye put down in a lump sum among "current" assets on its balance sheet, the largest part consisted of the company's own stock. Forthwith the Exchange ordered Allied stock be stricken from trading on Aug. 23, if in the meantime Allied did not give its stockholders more & better information. A grave defeat was this for Orlando Franklin Weber, autocrat of Allied, who for a full year had urbanely...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!