Stock has earned PCUSA $500,000 since GA mandate The Layman Online Friday, November 19, 2004 Since the General Assembly voted overwhelmingly in July to divest of funds in multinational corporations that do business with Israel – with Caterpillar being a prime target – the value of stock in that company has been rising steadily. At the close of the New York Stock Exchange Thursday, Caterpillar stock was trading at $91.44 a share. When the General Assembly voted for divestment, the stock traded at $77.98. In less than five months, the value of the Presbyterian Church (USA) shares has increased by $499,366, or 17.3 percent. The Presbyterian Foundation, which underwrites the major portion of the denomination's mission budget, owns 36,900 shares of Caterpillar stock. The Board of Pensions owns 200. |
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