Armour & Co.

Armour & Co. is about to join the long list of U. S. "family" corporations which have in the end sold out to the investing public.

The common stock capitalization of the company amounts to about $100,000,000 and consists of 2,000,000 Class A and 2,000,000 Class B shares. Both classes have a par value of $25 per share. Almost all this stock is at present owned by J. Ogden Armour and his family. Mr. Armour's own interest consists of between 600,000 and 700,000 shares of each issue. Since 1922, when serious readjustments were made in the company's affairs, he has planned to sell out a substantial part of his holdings and now a banking syndicate-consisting of Chase Securities Co., the Continental & Commercial Securities Co., and Blair Co.--has agreed to purchase a large amount of Armour stock and offer it to the public for subscription. It is thought that the syndicate will at first acquire about a third of the outstanding stock, and subsequently take over further blocks.

Not only is the securities market in good condition to absorb such a stock offering at the present time, but the recent earning statements of the company are also considered to be an attraction.