Business & Finance: Martin Into Market

Glenn Luther Martin Co., whose streaking bombers are the envy of all the world's armies, has only two stockholders—Glenn L. Martin and Louis Chevrolet. The founding president owns 525,000 shares. Mr. Chevrolet, who gave his name to the fastest selling automobile in the U. S., owns 1,000 shares.* This week all that will be changed. Through a banking group headed by Otis & Co. 325,000 Martin shares will be offered to the public at $11.50 per share. Founder Martin will donate 150,000 shares of his personal holding to the company for the deal, the balance being authorized but unissued stock. Though...

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!