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The Daily Worker
Chicago, Cook County, Illinois
What is this article about?
In London, British officials halt a 1,500,000-share stock issue by the General Electric Co. aimed at diluting American stockholders' voting power, following protests backed by the U.S. State Department. Negotiations continue with promises of compensation for Americans.
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General Electric Stock
Issue When U.S. Fights
LONDON, March 17.—Strenuous protests by the organization of American stockholders in the British General Electric Co., backed by the intervention of the U. S. state department, has secured a partial abandonment of the British stockholders plan, for imperial reasons, to force the Americans out of the company.
The stock issue of 1,500,000 shares which was to be given to British stockholders only, in order to overpower the American owners with a multitude of votes, has been held up, pending further negotiations.
The British officers have stated that they will continue the attack on the American voting power, but will agree to give monetary or stock considerations to the American.
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Where did it happen?
Foreign News Details
Primary Location
London
Event Date
March 17.
Outcome
the stock issue of 1,500,000 shares has been held up, pending further negotiations. the british officers will continue the attack on the american voting power, but will agree to give monetary or stock considerations to the american.
Event Details
Strenuous protests by the organization of American stockholders in the British General Electric Co., backed by the intervention of the U. S. state department, has secured a partial abandonment of the British stockholders plan, for imperial reasons, to force the Americans out of the company. The stock issue of 1,500,000 shares which was to be given to British stockholders only, in order to overpower the American owners with a multitude of votes, has been held up, pending further negotiations.