PUBLIC RELATIONS: Who Owns Monsanto?

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Edgar Monsanto Queeny is president of $61,000,000 Monsanto Chemical Co.. which his father founded in 1901 on an original investment of $5,000. Monsanto is a family name (President Queeny's mother's), but Monsanto Chemical is not a tightly-owned family business. This week the Company's house journal devoted 39 pages to a survey showing that thousands own, millions have an interest in the business.

Favorite sports of handsome Edgar Queeny are shooting moose and ducks, sniping for new divisions and—dearest of all—knocking off public relations stunts. He calls public relations "business manners and morals," espouses complete candor. Last week's survey of stockholders—lavish to the point of including pictures of "typical" Monsanto stockholders in the "typical" city of Cincinnati—was frankly designed to prove that Monsanto is not owned or run by any of "America's 60 Families."

Outstanding as of June 1, 1938, were 1,241,816 common shares held by 4,300 men, 4,084 women, 2,708 trusts, groups, institutions. Mr. Queeny holds only 3.4% has beneficial interest in about 4.5% more through relatives and trusts. One officer of the company owns 1.47%, no others own more than .25%.

The magazine named as "stockholders, once removed," students in 42 universities which together own 1% of Monsanto and the 25,000,000 policyholders in 72 insurance companies which together own 3%. Tucked away in a graph was the fact that 81% of the company's shares is owned in blocks of 101 or more shares ($102-to-$104 a share last week).