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Updated: May 31, 2025
And next, whatever I saved on you I'd just have to re-invest, and I'm over-capitalised as it is you 'd never guess the straits I'm put to daily in keeping fair abreast of fifteen per cent., which is my notion of making two ends meet. And, lastly, it ain't natural.
The point I was coming to was that I did not realise until after the crash how recklessly my uncle had kept his promise of paying a dividend of over eight per cent. on the ordinary shares of that hugely over-capitalised enterprise, Household Services. I drifted out of business affairs into my research much more than either I or my uncle had contemplated.
Just think of the situation for a moment. The Steel Trust is over-capitalised two hundred per cent. Because of the tariff it is able to sell its product at home for fifty per cent more than it charges abroad; and even so, it has to keep cutting its dividends! Its common stock is down to ten. It is cutting expenses on every hand, and of course it's turning out a rotten product.
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