Word: abitibi
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Dates: during 1928-1928
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...down, down slid the price of newsprint. Mill production was curtailed; papermakers' profits were sliced. (TIME, Aug. 27). Last week, the "biggest" International Paper Co., with mills in Ontario, Quebec, Newfoundland (see Foreign News), contracted with Publisher Hearst on the basis of $50 a ton. Friendly, possibly merging Abitibi Power & Paper Co. made a similar deal with the Chicago Daily News. On the Manhattan stock exchange, International Paper common fell 4¼ points; Abitibi hit a new low for the year...
...power developments of 1,500,000 h.p., capable of being increased to 3,000,Gigantic as this combine appears, International Paper considered, last week, yet another merger of giant proportions. To the already great capacity of its 30-odd mills, it contemplated adding the resources of the rival Abitibi Power and Paper Co., Ltd. Abitibi Power holdings, developed and in reserve, amount to 700,000 h. p. Timber resources approximate 55,000,000 cords. Its mills can turn out 650,000 tons of newsprint yearly. Should Abitibi merge with International Paper, the resulting company would in effect dominate the world...