General Motors Plan.
Topics: General Motors, United
The New York Times
November 21, 1918
It is expected that the General Motors Corporation plan for acquiring the United Motor Company will be subjected to certain changes. The program as accepted by United Motors stockholders recently called for the exchange of General Motors preferred and common for their shares. When the General Motors management listed its original $20,000,000 6 per cent. preferred stock on the Stock Exchange it agreed to make no further issuance of preferred shares. The Stock Exchange has insisted that the listing arrangements be not modified in any respect. In consequence it is probable that the United Motors Company will be offered a new 6 per cent. debenture stock in place of the preferred and that General Motors preferred shareholders will be offered the right to convert into the new issue.
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