DailyTimeCapsule brief
June 4, 1942
On June 4, 1942, the Pettibone Corporation reported a net profit of $436,806 for the year ending March 31, translating to $4.03 a share on common stock. This financial success came during World War II, a time when American industry was pivoting to support the war effort, indicating a period of economic resilience. Across the nation, the Office of Price Administration (OPA) was preparing to inform the public about price rules through a series of community meetings, aiming to manage inflation and protect consumers during wartime. Meanwhile, legal headlines featured former Judge Martin, who was sentenced for past actions during his tenure in the court he once presided over, stirring discussions about accountability in the judicial system. These events reflected the complex social and economic landscape of 1942 America, as the country navigated the challenges posed by global conflict and domestic policy.
Key developments
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On June 4, 1942, Pettibone Corp. announced a net profit of $436,806 for the fiscal year ending March 31. This translates to an impressive earnings per share of $4.03 for common stockholders. The report highlights the company's financial resilience during a challenging economic period.
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On June 4, 1942, former Judge Martin presided over a court case he previously handled. During this retrial, defendants J S Shing, B Nicholas, and H Tene pleaded guilty to petit larceny related to a theft that occurred in 1938. The courtroom was notable for its historical significance, as the judge was now sentencing individuals he once oversaw in a different capacity.
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PUBLIC TO LEARN ABOUT PRICE RULES; OPA to Explain Details to Key Groups in a Series of Com- munity Meetings
