Subject: Re: On buying stock in a borax concern
Great story! Thanks for sharing. One of my grandfathers was a grocer before and during the depression and many relatives "worked" in his store. He didn't go BK but he didn't die rich either. My father said he was convinced the big chains (eg A&P) wouldn't survive because they didn't offer store credit. So that tells you he was also in the short-term loan business, likely with zero interest rate. Tough business.
Rgds,
HH/Sean