1952: Stockholders of Crosley Motors, Inc. to discuss recapitalization plan., 12/3/2012, 12:00 am
Reminder from: Crosley Yahoo! Group Title: 1952: Stockholders of Crosley Motors, Inc. to discuss recapitalization plan. Date: Monday December 3, 2012 Time: 12:00 am - 12:00 am Location: Cincinnati, Ohio., Crosley Car Owners Club (CCOC), 4526 29th Avenue, Kenosha WI 53140-3044, (262) 652-3034 Notes: The Cincinnati Stock Exchange announces that a special meeting of Crosley Motors stockholders has been set for December 12, 1952, at which a proposed financial revamping plan will be acted upon. The concept calls for increasing the value of Crosley common stock from $6 to $10 a share and the exchange of one share of new $10 par stock for each twenty shares of old stock, plus an issue of new common stock of which 28,462 shares would be outstanding after the exchange of new stock. A new class of 2,716 convertible preferred stock would be issued with a par value of $1,000 per share. Crosley Motors, Inc. secretary Frank W. Knowlton of Akron, Ohio outlines a proposal to refund a debt of about $3,054,510 to Powel Crosley, Jr., money he loaned Crosley Motors out of his personal estate to attempt to keep the Company afloat in its final years. Get reminders on your mobile, Yahoo! Messenger, and email.
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