Business & Finance: Stone & Webster

To the U. S. public was given last week an opportunity to purchase stock in Stone & Webster, Inc., potent builders and operators of U. S. public utilities. To the public went an offering of 400,000 shares of Stone & Webster, Inc., newly organized as a Delaware corporation. To present large stockholders went 175.000 additional shares. Priced at $100, the new stock im mediately sold "when, as and if" above $107. The new financing will create a 100-million-dollar corporation. Control will remain with the founders, Charles Augustus Stone and Edwin Sibley Webster.

Stone & Webster, Inc., has built power stations representing 10% of the total central station capacity of the U. S., supplying 20 million U. S. inhabitants with light and power. It has also built many an office building, factory, hotel, and the present Massachusetts Institute of Technology building in Cambridge. Directorate of the new company will include Joseph P. Grace, Board Chairman of W. R. Grace & Co. ; Albert H. Wiggin, Board Chairman of Chase National Bank; Herbert L. Pratt, Board Chairman of Standard Oil of New York.