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Non-Tech : American Express (AXP)

AXP 360.53

-0.3%

Nov 4 3:59 PM EST

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To: Ibexx who wrote (51)	7/30/1998 2:03:00 PM
From: Carey Thompson	of 179

Ibexx you da man, long time no hear from I have included my sketchy notes about AXP; they are included to give you some historical background and are not inclusive. Historical notes: American Express June 1997 - Used the proceeds fr WX sale to buy $1,174.36 worth of AXP. Bought 16.396 shs; ttl shs owned is 73.0319. My new avg buying price is $30.93. Qtr4 of 1996 - AXP takes charges of $125 mill to restructure intl business and $13 mill for early retirement of debt Oct 1996 - Board authorizes the repurchase of up to 40 mill shs of com stk over next 2-3 yrs. May 1996 Nippon Life Ins converts its convertible pfd stock into 4.7 mill shs of AXP common During 1994 AXP repurchased and cancelled 4.7 mill shs of com stk @avg cost of $27.67/sh Nov 1994 I sold my 10 shares of Lehman Bros @ 15; must adjust my cash basis for other AXP shs proceeds were $150.00 May 1994 Lehman Brothers was spun off to shareholders @ 1 sh of Lehman for every 5 shs of AXP years 94,93,92 restated to exclude Lehman Bros, all other yrs include Lehman Bros 1991 - 92 I invested $1,084.31 in AXP via its Dividend Reinvest. Plan. I bought my 1st sh using the Moneypaper's buy 1 sh to get in the DRiP plan. I am very pleased with this method of investing because it allows me to invest $$$s in a stock when I have it w/o paying broker's commission aka dollar cost averaging. At this stage in my investing career its the way to go. avg price= $21.77 Recently, the CEO of AXP, Harvey Golub, checked in on the issue of stock splits; he does not believe in them. Not good news but double check me by looking in Yahoo! news on AXP. Carey Thompson

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