OUTCOMES FOR 1920 KROGER – RECESSION AS THE WORLD WAR ENDS EFFECTS THE COMPANY PROFITS $80 RADIO CORP – SALES SLOW, LITTLE DEMAND $80 MAMMOTH OIL – 9 NEW WELLS BEGIN PRODUCING IN WYOMING FIELD $120 CITY CORP – BANK DECLARDES USUAL 6% DIVIDEND $110 DURANT MOTORS – COMPANY FAILS TO MAKE PAYMENT ON NOTES TO CITY CORP. $70 MIDLAND POWER – MIDLAND EXTENDS SERVICE INTO MICHIGAN AND WISCONSIN $120 K&P RAILROAD – FEDERAL GOVERNMENT DEREGULATES RAILROADS AFTER WAR ENDS $120 TEL-TONE – DIAL TELEPHONES WILL BE INSTALLED IN PARTS OF NEW YORK CITY $150

OUTCOMES FOR 1921 KROGER – FEDERAL GOV’T INCREASES TARIFF ON AGRICULTURAL IMPORTS $100 RADIO CORP – FIRST RADIO STATION, KDKA, BEGINS BROADCASTING IN NOV. 1920, SALES OF NEW MODELS IMPROVE $110 MAMMOTH OIL – OIL LEASE AT TEA POT DOME IN WYOMING CAUSE BIG PROFITS $140 CITY CORP – BUSINESS AS USUAL $120 DURANT MOTORS – SALES DEPRESSED BECAUSE OF FORD’S INEXPENSIVE MODEL “T” $60 MIDLAND POWER – INSULL BEGINS BY BUY-OUT OF COMMONWEALTH EDISION. PROXY FIGHT PREDICTED BY WALL STREET. $110 K&P RAILROAD – COMPANY BEGINS EXPANSION INTO SOUTHWEST MINING AREA $130 TEL-TONE – COMPANY WILL PAY A 10% DIVIDENT AS A RESULT OF DIAL SUCCESS $160

OUTCOMES FOR 1922 KROGER – Company merges with large Eastern food chain of stores $150 RADIO CORP – 15 new patents purchased. Sales improve. $130 MAMMOTH OIL – Company continues to be among the hottest stock on exchange $160 CITY CORP – U.S. Foreign Debt Commission begins discussion of repayment of French and English loans to American banks. $130 DURANT MOTORS – Locomobile sales are depressed by mass production of Fords $50 MIDLAND POWER – Insull’s financial manipulation allows Midland to take control of Commonwealth Edison $125 K&P RAILROAD – Profits rise as agricultural shipments from the Southwest begin $140 TEL-TONE – New York Stock Exchange announced that Tel-Tone has shown the greatest increase of any stock listed on the exchange $170

OUTCOMES FOR 1924 KROGER – Corn blight and the unstable agricultural prices cause limited profit $140 RADIO CORP – New models well received by the public. Sales boom. $142 MAMMOTH OIL – Tea Pot Dome scandal breaks. Congressional investigation of oil leases find fraud. Secretary of the Interior Fall indicted for fraudulent oil lease. Owner Sinclair fined for contempt of court. $40 CITY CORP – Company announces another good year. Business as usual. $140 DURANT MOTORS – Du Pont family begins to buy large blocks of Durant stock. $60 MIDLAND POWER – Insull announces dividends will not be paid for one year as a result of the Edison merger. $100 K&P RAILROAD – Competition from trucking effects profits. $130 TEL-TONE – Company announces completion of a merger with several East Coast companies. $180

OUTCOMES FOR 1926 KROGER – Company begins buying fresh fruit from California. Profits up. $155 RADIO CORP – Government statistics indicate over 200 radio stations open in two year period beginning in 1924. $160 MAMMOTH OIL – The company has not recovered from the Tea Pot Dome scandal. $30 CITY CORP – French government begins to pay on WWI loans. Stock jumps. $160 DURANT MOTORS – Fisher Body joins Durant in a merger. $70 MIDLAND POWER – Cyrus Eaton of Cleveland may be trying to take over Midland by purchasing large quantities of stock. Proxy fight may begin. $130 K&P RAILROAD – Profits from Southwest expansion shows little success. $120 TEL-TONE – Bell Telephone makes an offer to buy the outstanding stock from the company. $200

OUTCOMES FOR 1927 KROGER – Company begins opening markets in most major East Coast cities. $145 RADIO CORP – Over 700 radio stations now exist in the U.S. Sales excellent. $160 MAMMOTH OIL – The owner of Mammoth renames the company Sinclair Oil and issues new stock. $45 CITY CORP – Profits up; business good. $150 DURANT MOTORS – Louis Chevrolet is hired to design an inexpensive car to compete with the Model “T” Ford. $80 MIDLAND POWER – Cyrus Eaton begins dumping large blocks of Midland stock on a depressed market. $90 K&P RAILROAD – Flood damage in Mid-West causes railroad to lose money. $110 TEL-TONE – The company is taken over by the Bell System. $220

OUTCOMES FOR 1928 – Best year in stock market history to date! KROGER – Sales improve as agricultural surpluses keeps farm prices low. $180 RADIO CORP – RCA stock becomes one of the hottest on the market $240 MAMMOTH OIL – Now Sinclair Oil. Company begins to recover from scandal. $70 CITY CORP – 10% dividend on all stock is paid by City Corp. $200 DURANT MOTORS – Durant Motors and Fisher Body have announced a merger of over 300 auto parts producers to form a new company called General Motors. $150 MIDLAND POWER – The Chicago Tribune discloses Insull’s company is a “House of Cards” ready to crumble. $70 K&P RAILROAD – New oil field opened along the right of way in Kansas and Oklahoma. $150 TEL-TONE – Stock continues to rise. $250

OUTCOMES FOR 1929 Thursday, October 24, 1929: (Black Thursday) 12 million shares are traded in one day on the New York Stock Exchange. $700 million is lost by stock holders as the market takes the greatest dive in history. KROGER –$100 RADIO CORP –$50 MAMMOTH OIL –$30 CITY CORP –$150 DURANT MOTORS –$50 MIDLAND POWER –$10 K&P RAILROAD –$20 TEL-TONE –$100