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Declared semiannual dividends of $1.20 on 75,000 shares of preferred stock and $0.08 on the 600,000 shares of $20 par common stock to stockholders of record on March 31, payable on April 30.

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Split common stock 4 to 1 and reduced PAR from $80 to $20. After the split there were 600,000 shares.

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