Show OFFICIAL lETTER TO EXPlAIN SALE PlANS Herald Error Places Z Z C. C M. M I. I I Treasury Stock Issue in Unfair Light Full information rc relating aUn to the Z Z C C. M M. f. f I. I sale of treasury treasury stock stock will be contained In a circular letter which is to be sent all stockholders As a a. result of or a typographical error In yesterdays yesterday's yesterdays yesterday's yes yes- Herald the value of this stock was misrepresented In its report The Thell ll Herald Indicated that the board hart hall said tho the stock was worth only whereas what the board re really said was that HaRt it was worth fully tho amo amount nf originally asked or Following is the extract of or tho the board statement which was made misleading mislead mislead- misleading in ing h hy by reason of or the error At the same meeting a change was made relative to the proposed selling of or treasury treasur stock In November of last year ear the board hoard ordered the sale of or shares of treasury stock to its stockholders at per share Due to the many remarkable offerings mado made by b tho the government and large Industrial Industrial industrial Indus indus- trial institutions which would temporarily temporarily tem tem- yield i ld a greater interest rate than dividend would pay on tho the price asked it was thought b by the directors that It would be more satisfactory to stockholders to reduce the amount per share and offer shares or 1 12 per percent percent cent at 1 per share It was strongly strong strong- ly desired dc however that the stockholders stockholders stock stock- holders should bo advised ad that the stock was fully worth the amount first thought advisable isable to ask |