The May Department Stores Company
| Company Deal | sale of 150,000 shares of $3.75 cumulative preferred stock (without par value) and sale of 80,000 shares of common stock (par value $5 per share) |
|---|---|
| Transaction Type | Cumulative Preferred Stock |
| Deal Description | The May Department Stores Company added the net proceeds from this transaction to its general funds, to be available for general corporate purposes. The company intended that portions of the funds be applied to the development of retail store operations in certain suburban areas and to the modernization and improvement of various existing properties of the company and subsidiaries. |