Business & Finance: New Issues

Offered to the public last week were the following corporate securities:

Lane-Wells Co., 208,006 shares of common stock at $15.25 a share. Back in Depression I, two middle-aged engineers named Bill Lane and Walt Wells, down to their last $500, perfected a gun with which they could shoot through the steel-&-cement well-casing of dry or abandoned oil wells at levels thought to be oil-bearing. Since then they have turned a pretty penny ($590,814 net in 1937, $310,458 to June 1938). Of last week's issue, floated to pay off loans and finance expansion, 58,006 shares...

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