Word: dillons
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Walter Percy Chrysler is not a TIME subscriber, but may become so on the advice of Four-year Subscriber Clarence Dillon, with whom he Chrysler-Dodged...
...Dillon, Read Union Trust, Pittsburgh...
When such mergers occur, the financing is usually the easiest part of the work. Much more difficult is whipping two sales organizations together. So difficult is this that some organizations keep original sales forces intact and separate. The Chrysler-(Dodge)-Dillon deal of last fortnight (TIME, June 11) is such a case. But with Gold Dust and American Linseed the problem is relatively simple. Both sell to the same grocers-cleansers and foods. Salesmen need add only a few loose leaves to their portfolios. But there are apt to be fewer salesmen than the two companies now separately employ...
Then decision: Chrysler to take financial control of Dodge Bros, by a trading of stocks; Dodge Bros, and Chrysler to continue separately as motor vehicle makers; Walter Percy Chrysler to be chairman of the directors of the combination; Clarence Dillon to be chairman of the directors' finance committee; Edward G. WTilmer to be president. Mr. Wilmer, by training a lawyer, has been Dodge Bros, president since Clarence Dillon took control in 1925. Mr. Dillon made Mr. Wilmer a Dillon-Read partner. He is a superb executive, the sort of man Mr. Chrysler himself is, except that Mr. Chrysler...
Trade Terms. Three years ago Clarence Dillon gave the Dodge Brothers heirs a $146,000,000 check for their property. He quickly sold it to the public for $174,000,000, retaining control. Since then the company has bought back several millions of its own stock from investors. For the property as it is, Walter Percy Chrysler last week paid the equivalent of $170,000000 in Chrysler stocks...