CORPORATIONS: Mournful Dividend

Like a mourner laying a nosegay on a grave, Miss Josephine Roche last week paid the first liquidating dividend of her bankrupt Rocky Mountain Fuel Co., the company the United Mine Workers loved. The dividend of 25¢ on each of the company's 758,720 shares of common stock came from sales of coal lands and royalties from mines leased to other companies.

The biggest check, for about $44,000, went to the U.M.W.'s company, Lewmurken,* Inc., which once tried to save Rocky Mountain Fuel by lending President Roche $709,693. It had good reason to keep the company going. Miss Roche, a militant...

Want the full story?

Subscribe Now


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

Learn more about the benefits of being a TIME subscriber

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