Shock Absorber

Claude H. Foster of Cleveland, inventory promoter, manufacturer, called his new automobile horn in 1904 after the name of that golden trumpet by which the archangel will at some unknown date announce the dissolution of all things--Gabriel's horn. Gabriel Manufacturing Co. prospered, expanded, invented a snubber to tame the jouncings of springs on automobiles. Gabriel snubbers rivalled Gabriel's horn in fame. Since 1925 when Gabriel Manufacturing was listed on the New York Stock Exchange "Snubber" has been cried in stock brokers' customers' rooms, when the ticker recorded a transaction in Gabriel stock.*

Last week, Gabriel directors shocked Gabriel stockholders by discontinuing the regular 87 1/2% quarterly dividend. Six months ago, an alleged but obvious pool had taken "Snubber" stock in hand, had run it up from $40 to $60. Then it fell from $60 to $18, sometimes at a rate of $4 a day. A printed rumor had it that President George H. Rawls of Gabriel, had lost the shock absorber business of the General Motors Corp. President Rawls explained to stockholders that last year was one of the most successful periods in the company's history, but important research and development work required much capital.

* Tall call boys on platforms, before stock price recording boards in brokerage offices abbreviate in order to keep up with racing tickers. Allied Chemical and Dye is cried: "Acid," Texas Gulf Sulphur "Tiger Lily," Bethlehem Steel "Betsy Steel," Southern Pacific "Soup," Standard Oil of New Jersey "John D."