Monday, Jun. 24, 1929
Partners All
Briskly progresses the stock-for-employes movement among U. S. corporations. Among last week's recruits were:
Union Carbide & Carbon Corp., offered managing executives and trustees 38,189 shares at $55 and 44,635 shares at $50. The employe contributes 10% of his "compensation" and the company a sum equal to 20% of employe's "compensation," or 30% if the employe has been five years with Union Carbide & Carbon. The company's stock closed last week at 89 3/4.
American Brake Shoe & Foundry Co., formed Absco Corp. to distribute 40,000 shares among executives and other employes. Shares were to be bought from Absco at $48. American Brake Shoe and Foundry closed last week at 52 1/2.
Canada Dry Ginger Ale, Inc., offered to employes 1,772 additional shares at $50 a share. Employes have three years to pay. Canada Dry closed last week at 90 1/4.
American Bosch Magneto Corp., applying for listing of 8,800 additional shares, announced an employe's stock plan, gave no details.