In London financial circles, traders gossiped and wondered as the stock of Selfridge's department store scooted from 31s. 9d. a share to 52s. 6d. in six months. Last week they heard the reason for the rise. Lord Woolton, chairman of the Conservative Party and of Lewis' Investment Trust Ltd., which owns a big chain of provincial department stores, had put in a $9,500,000 (£3,412,000) bid for the store. When Lord Woolton offered 65s. a share, Selfridge's Chairman Horace Holmes quickly advised his stockholders to sell. At the news, Selfridge's stock jumped another...
To continue reading:
or
Log-In
