Sequels

P:In London, result of long negotiations between British Tobacco Securities Trust (London) and Louis Kroh Liggett of Drug. Inc. (TIME, Jan. 23), control of Boots Pure Drug Co., biggest British drug chain, was reported restored to British hands. In January Mr. Liggett arranged to sell the 1,000,000 shares of Boots (for which Drug paid $10,000,000 in 1920) for $25,000,000 only to have the sale blocked at the last minute by the British Treasury which feared the effect on the pound of transferring so large a sum to the U. S. Last month Drug disclosed that it had sold some Boots shares (number not given but rumored 200,000). With dollars cheap the British Treasury evidently put its O.K. on completion of the deal for the rest of the Drug shares.

P:In Detroit, result of negotiations (TIME, May 1), Commercial Investment Trust bought Universal Credit Corp., founded by Henry Ford to finance installment sales of his cars. Rumor said that Ford's asking price was $20,000,000. The price actually paid was $30,000,000 showing that even rumor is no match for Mr. Ford.

P:In Manhattan, result of purchase by Delaware & Hudson railroad of 495,000 shares of New York Central stock (TIME, Feb. 6), stockholders at their annual meeting questioned bush-bearded President Leonor Fresnel Loree about the deal. In addition to oldtime D. & H. stockholders from Pennsylvania who always attend stockholders' meetings and to Cornelius Vanderbilt and other directors, numerous Wall Street stockholders turned up in hope of edification. Said Mr. Loree:

"We began our purchases [of New York Central stock] at a little less than $10. We bought 495,000 shares, which is about equal to our capitalization. It can be calculated easily that for each point that New York Central goes up, D. & H. rises $1 a share in value. At yesterday's price of 26 7/8 we had a profit of .$2,250,000 on our investment."

Said Stockholder Charles Killgore of Short Hills, N. J.:

"I have held Delaware & Hudson stock for many years. I bought it as a meal ticket for my old age. Now I have no meal ticket, because the company is not paying any dividends. I'm 84 years old). By the time the company is making some income on New York Central stock, where will I be?"

Said Mr. Loree (aged 75): "I hope you will be here to enjoy it."

Said Stockholder Killgore: "I doubt it "'

Mr. Loree closed discussion by saying, ". . . And now luncheon will be served in the adjoining room." In trooped the stockholders to their annual meal of creamed chicken, ice cream and coffee (but not champagne as of old).

P:In Carson City, Nev., following the visit of inspection to Virginia & Truckce Railway paid by Ogden Livingston Mills and Mr. & Mrs. Herbert Hoover (TIME, April 10), it was announced last week after a meeting of the road's directors that Mr. Mills had purchased a controlling interest in the road. Built (to connect the Comstock silver lode with Reno) in 1869 by Darius Ogden Mills, grandfather of the present owner, Virginia & Truckee was controlled in recent years by the Mills and Sharon estates of San Francisco. Rising silver prices, discovery of a new lode at Virginia City have made prospects of the road look up; its purchase by Mr. Mills gave Nevada the idea that the silver mining business must indeed be going to boom.

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