NEW DURANT STOCK OFFER.
|Topics: Fisher Body
The New York Times
December 20, 1922
Fisher Body Corporation Issue to Be Sold on Instalment Plan.
W. C. Durant announced that another offering of Fisher Body Corporation common stock units was released yesterday through the Durant Corporation. This is the third offering of this society in sixty days. The first was made at $32 per unit, equivalent to $160 per share; the second at $35 per unit, or $175 per share. The present offering is at $40 per unit, equivalent to $200 per share. Subscriptions are accepted for not less than five nor more than ten units, sold only on the monthly payment plan. Unit certificates, which are exchangeable for stock at the end of two years, are secured by Fisher Body Corporation common stock, held in trust.
The prospectus outlining the offering states that the Durant Corporation "obligates itself to handle this issue without profit to itself or any expense in connection with the administration of this trusteeship, except Federal and State stamp taxes."
More than 180,000 shareholders are interested in the various enterprises sponsored and recommended by the Durant Corporation.
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