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DURKEE'SOWNGRADE @)'|
YELLOW MARGARiEw^
Many shoppers have found`that. JoW.}ii|;| price and top quality do' go t6gether^Slj5fij If they buy Durkee's' Own trade rWM Margarine. These thrifty homemakers know that Durkee's is fhe'best^rnar>".Tt` garine for frying, for cooking or baking,:. ;,.:! or as a spread for bread. '.'jijfjj;*\ Durkee's Margarine is Ihe only-mar-. ; ;i garine bearing the Grade Seal.of Quality! This Sea! is a guarantee.:that yj|every pound of Durkee's .-Margarine ?
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ON CONVERSION OF CUMIN.'-'V'r
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CONVERTIBLE PREFERRED STOCK
The Commissioner of Internal Revenue has issued
a ruling holding that the surrendei by the holders
of our convertible preferred stock in exchange
for our common stock resulted in no recognizable
gain or loss to the shareholders for Federal in- .
come tax purposes, and the basis of the stock'
surrendered became the basis of the stock re
ceived in exchange. Where a shareholder re
ceived cash in lieu of any fractional share of
stock to which he was entitled, tlie recognizable
gain or loss is measured by the difference be
tween that amount which would have repre
sented the basis of such fractional share of stock
had the old basis been allocated in part thereto
and the amount, of cash received.
In determining the period for which the common
stock,, acquired upon the conversion of the pre-
ferred stock, was held, ihcre shall be Included .
the period for which the preferred stock was
held. (Section 117 (h) (5) of the Internal V
Revenue Code.)
V'- --!'j
The following is a suggested method of deter-'
mining the recognizable grin or loss on the re-
ceipt of cash in lieu of a fractional share: : / '
The \00V. latex emutsmpamt-
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5PRED5ATIN
FOR WALLS - .CEILINCS - WOODWORK The favorite paint film .throughout America is SPRED SATIN. It Is the ''feature film" of the entire paint industry . If; the only 100% latex, emulsion wall paint on the market! This amaz ing, rubber-tough SPREO SATIN paint' film is /.Isetting'the;fpaice In i^fnt Wlesleveivwherel.lt , < *rejiched snail lime l high, ln;:1951.>nd there, is . every Indication that it will do It again fn'1952!
THERE'S A REASON FOR* IT<Y S.V V" ? -. -.'The superior-performance of SPRED. SATIN is
1. Multiply the number of Preferred shares sur- _ rendered by 1.498 to determine the number of Common shares to which you were entitled. "'
2. Divide your total cost or other basis of pre
ferred stock by the number of shares of Com
mon to which you were entitled (determined
in (1) above) to arrive at the basis per share" .I
of the common stock received and the frac-'r-J
tional share of Common stock for'which cash 'V
was received.
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recognized by America's finesthotels, hospitals, . schools and housing projects;'Where it. Is used. SPRED SVfjISJ^:popularitytq:its out
standing' features, unequa.fedj.jby any bther wall
paint! SPRED SATJNjdries' 'to touch in :20
..rplnutes-^wlthout laps of brushmarksMt washes >' cXeasjhr Than 'piny. eruamefs T ;Tnbe'1; ia><rse .ehorc- of
! ^ beautifut><deepi'irt<f'pastel. SPRED' SATIN colors
3. The difference between the basis of the frac-V
tional share as outlined above and the cash
Invite you ..to .\ry^ SPREESAT IN, )fpu ;can
received represents the recognized capital gain or loss. Such capital gain or loss would be long
1 .'a
' 'decorate*;faster! and SetNr^^jnefe! it jsecond
term if the Preferred stock was held for' more ,'v. V' jS- 'dbat required,.) ft iearv jbe^tE ilied'the', same
than six months and short term if held notvi
'more than six moannthtsh,s;;
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GLD002742