Word: clinte
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...brothers and the management of one of the nation's biggest holding companies flamed last week. To the 23,000 stockholders of Alleghany Corp., which controls both the New York Central Railroad and Investors Diversified Services (the biggest U.S. mutual fund group), went 17-page proxy solicitations from Clint Murchison Jr. and his brother John, in an open bid for control of Alleghany. The Murchisons charged that Alleghany Chairman Allan P. Kirby has let Alleghany's investment policy stagnate (except for an unsuccessful stock-buying race with the Chesapeake & Ohio Railway to gain control of the Baltimore & Ohio...
Though their famous father, Texas Oil Millionaire Clint Murchison Sr., has been ailing in Texas, many thought that they saw the old man's skillful hand behind his sons' maneuverings for control of Al leghany. The Murchisons and their back ers have already bought 868,667 shares of Alleghany, plus preferred shares and warrants that could bring their total to 2,168,811 shares, thus giving them a slight edge over the Kirby camp, which at last count controlled a potential 1,944,687 shares. With a Texas flair for gambling, the Murchisons are clearly going for double...
PROXY FIGHT SHOWDOWN will come at the Alleghany Corp. annual meeting in May in the battle for the $5.5 billion holding company that controls the New York Central and Investors Diversified Services. Eleventh hour truce talks failed between Alleghany Chairman Allan P. Kirby (TIME, Dec. 12) and Brothers Clint W. Jr. and John Murchison. Both sides have already started soliciting proxies...
...wide-ranging, bipartisan force-from Minnesota's Democratic Hubert Humphrey to Massachusetts' Republican Leverett Saltonstall-was drawn up against a solid phalanx of Southern Democrats, who have traditionally used the filibuster to stop civil rights bills. New Mexico's Clint Anderson offered a resolution to change the Senate's notorious Rule 22 to allow three-fifths of the Senators present and voting to cut off debate, instead of the current hard-to-get two-thirds. Fair Dealer Humphrey upped the ante, asked cloture power for a mere majority of Senators. Georgia's Dick Russell objected...
Privately, the liberals admitted that the Humphrey amendment had no chance of passage. Privately, they also admitted that their hopes for Clint Anderson's three-fifths modification depended on none other than Republican Richard Nixon. In 1957 Nixon delivered a significant opinion that a majority of Senators had the power to adopt new rules at the beginning of each new Congress, and that any rules laid down by previous Congresses were not binding...