Summer Stock

Chrysler Corp., which jolted its competitors a fortnight ago by giving a $25 million cost-of-living wage rise to its workers (TIME, Sept. 4), last week served up another surprise. The company declared an extra $3 dividend, payable this month on top of the $1.75 quarterly dividend. This will boost dividends so far this year to $7.75, v. $5.25 for all of 1949. When the New York Stock Exchange rang the gong to open trading the next morning, Chrysler stock shot up 3½ points to 71¼, giving the entire market a fillip. At week’s end, investors got more good news: the Senate shelved action on an excess profits tax until next year.