Business & Finance: Mr. Cochran, Prophet

• Share

Last summer Thomas Cochran, J. P. Morgan & Co. partner, about to sail for Europe, spoke unwarily to a newspaper reporter, predicted that by the summer of 1928 General Motors common stock would be worth $300 a share (TIME, Aug. 16). Then General Motors declared a 50% stock dividend. If the revaluated G. M. C. stock reached $200, Mr. Cochran's prediction would be intrinsically accurate. Last week that contingency happened—G. M. C. stock sold on the New York Stock Exchange at $200.50 a share.