Word: co
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Dates: during 1950-1959
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...chains). In the past three years, the private labels have increased their share of the market for many items-instant coffee from 12% to 31%, frozen vegetables from 38% to 53%, margarine from 58% to 71%, etc. Even such an advocate of national brands as the National Tea Co. (1958 sales: $794 million) is reluctantly turning to private labels in hopes of boosting its profit...
...brands that the private labels have never been able to copy successfully. These include Campbell's soups, Heinz's Ketchup, Gerber and Beech-Nut baby foods, Betty Crocker and Pillsbury cake mixes, Kellogg and Post cereals, General Foods' JellO, and Hellmann's mayonnaise. Explains Pillsbury Co. Vice President James Rankin: "Where much research, refinement and technology are needed, the private brands lag behind. Because we keep up quality and are always sure of enough research on new products and enough advertising to tell the public about them, we have no fear of private labels...
...Banker Harold Holmes Helm, 58, expansion-minded chairman of Manhattan's Chemical Corn Exchange Bank, long had his "loving eye" on the New York Trust Co. He knew that a minority of New York Trust shareholders wanted to sell out if they could get a good price. New York Trust's big wholesale banking business (specializing in large industrial accounts) and its seven offices would nicely complement his own 94-office bank doing a largely retail banking business with smaller clients. Last week Helm proposed a merger, swapping 1¾ shares of Chemical Corn stock for one share...
Though shareholders of both banks (and regulatory agencies) must still approve. the merger is expected to go through in about five weeks. In pulling it off Helm will make the combined Chemical Bank New York Trust Co. (deposits of $3.8 billion) the third largest bank in New York, the fourth in the nation (after the Bank of America, $9.5 billion; New York's First National City. $6.8 billion; and Chase Manhattan. $6.4 billion...
...century-old Corn Exchange Bank, which had 78 branches and $774 million in deposits, and paid a premium of $25 a share to get the Corn Exchange stock. The price proved right. The merged bank's deposits rose to $3.2 billion in 1958. With the New York Trust Co. branches he will have the third biggest branch-office system in New York...