Business: Million-Dollar Names

Last week a select portion of the U. S. public was permitted to buy stock in Shenandoah Corp., a newborn investment trust which came into being with a silver spoon of $102,000,000 resources in its mouth. Eager, the public snapped up one million shares of common, one million shares of preferred, paying up to 42 for common offered at 17½ and up to 60 for preferred offered at 50. By midafternoon of the first day's sale there was no Shenandoah stock available.

Shenandoah Corp. was broadly empowered to "buy, sell, trade in and hold stocks and securities of any...