I can't speak for Hill's reasoning from 1901-1916 but can for others who
believed the stock would rise further (& it did). My late Uncle Ed "Smitty"
Smith had several shares he bought thru the Q in the 50's and kept to well
after BN merger - the appreciation was significant. Per Overton the 3.2% was
held by Q/GN/NP officials and some of the brokers involved. Remember too,
dividends are also a reason for buying & holding stock. Q stock is among the
few of any corporations to pass the century mark without missing a dividend
(from 1864 to 1970; the one year they missed was due to Confederate raiders
damaging track & rolling stock in Missouri in 1864 - something even astute mgt
could not avoid!). CB&Q stock, like AT&T (the so-called "widows & orphans"
stock due its long span of paying dependable dividends), was a good income
stock for investors seeking same.
As for exact # of shares outstanding during Hill's heyday, I can ck my A.R.'s
this w/e if someone else does not respond in the interim.
Gerald
To: CBQ@yahoogroups.com
From: rot@ti.org
Date: Mon, 11 Apr 2011 07:50:28 -0700
Subject: [CBQ] Who owned Q stock?
Hi,
Everyone knows that after 1901 the GN and NP each owned about half of
the CB&Q. However, they didn't own 50 percent each; they owned 48.4
percent each.
I've always wondered who owned the other 3.2 percent and why they
refused to sell at the generous terms offered ($200 a share for stock
that had been selling for $140 a share). Recently, I acquired a list
of assets owned by James J. Hill at his death in 1916. It included
5,177 shares of CB&Q stock.
How many shares were outstanding at the time? What percentage of the
total is 5,177? Why did Hill keep 5,177 shares in his own portfolio
instead of selling them to the GN and NP?
I hope someone on this list can satisfy my curiosity about these questions.
Best,
Randal
--
Post Office Box 76
Camp Sherman, Oregon 97730
541-595-1460
541-588-0518 cell
http://ti.org/antiplanner
[Non-text portions of this message have been removed]
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