Corporations

Last week the following newsworthy corporations made the following news:

P: Coca-Cola Co. Directors voted to split their stock four for one. The world's biggest maker of a 5-c- trademarked drink increased its profits 32% in the first year of Repeal, its stock now ranking as the highest-priced active industrial issue on the New York Stock Exchange ($244). One reason: cheap sugar. In Coca-Cola economy a 1-c- change in sugar prices amounts to $1.50 per share of Coca-Cola's old stock.

P:Chairman-President Tom Mercer Girdler of Republic Steel drove the last rivet in his long-delayed merger with Corrigan, McKinney (TIME, Sept. 10, 1934). After stockholders of both companies ratified the proposal at simultaneous meetings in Cleveland and Jersey City, N. J., Tom Girdler announced that he and his fellow steelmen were "fairly optimistic" for the first time since 1929.

P: In the hot proxy fight for control of Madison Square Garden Corp. (TIME, Sept. 23), Colonel John Reed Kilpatrick (president) outpointed Colonel John S. Hammond (chairman) 144,000 to 129,000 votes. Starting in the club barroom of the famed sports arena, with a policeman at the door, the meeting lasted four days while election judges wrangled over the count. Colonel Hammond announced that he would challenge Colonel Kilpatrick's victory in the courts.

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