Business & Finance: Cash & Comeback

Bound morally if not legally to ponder the new Federal tax on undistributed earnings are the directors of all profitable U. S. corporations except banks and insurance companies. Before the year end they must decide on how much of this year's profit they will pass on to stockholders to avoid the levy, running as high as 27% on earnings retained in the business. Last week in Chicago the directors of Sears, Roebuck & Co. made their decision. After marking the company's 50th anniversary by voting a special $1,500,000 "Jubilee" wage bonus, the Sears...