Holders Rarely Bother

The May 18 article on the one share, one vote situation in corporate America (“Assault on Principle of One Share, One Vote Stirs Growing Concern”) was interesting.

However, it also would be interesting to know how many of the “lesser” stockholders, those who own 100, 500 or 1,000 shares of a corporation, actually read the proxy statement or even check off any of the boxes on the proxy form.

My father was a partner in a national brokerage firm before and during the Depression, and I was brought up not only to read the annual report (at least to some extent) but to go through the proxy statement with some intention of understanding it.

I can’t say that I do understand a great deal of the business language, but I do carefully look over the list of directors proposed and vote firmly against any director who doesn’t own any stock in the company.

Enormous blocks of stock undoubtedly can shift the balance of power in any organization, but the little guys out there don’t even try nor understand the need to try.

ELIZABETH PAINE LENT

Pasadena