Stock has earned PCUSA over $400,000 since GA The Layman Online Wednesday, November 17, 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 Tuesday, Caterpillar stock was trading at $89.88 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 $408,100, or 14.1 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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