Word: inc
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Dates: during 1960-1969
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Died. Alfred E. Lyon, 81, longtime head of Philip Morris, Inc. as president (1945-49) and board chairman (1949-57); of cancer; in Stamford, Conn. An ebullient Britisher, Lyon arrived in the U.S. in 1912 and swiftly showed his Yank cousins what the word salesman meant, getting dealers to push Philip Morris by helping dust their shelves, paying college students to pass out free smokes to friends, sweet-talking nightclub ciggie girls into handing customers only Philip Morris when they'd ordered another brand; by 1933, he was the company's vice president for sales and there created...
...Signal Oil & Gas Co., the Los Angeles-based giant (1966 sales: $1 billion) that aims to strike it rich away from the oilfields as well as in them, added Mack Trucks Inc. to a list of holdings that already includes 48% of American President Lines and Garrett Corp., a manufacturer of aerospace components. Signal lost out in a bid for ailing Douglas Aircraft last winter, but the Allentown, Pa., truckmaker was only too glad to get under Signal's rich corporate umbrella. Despite record sales ($412 million in 1966), Mack has been desperately short of capital needed to expand...
...Montgomery Ward & Co. scotched weeks of Wall Street rumors that it was a ripe-and-ready takeover target by announcing plans for an acquisition of its own. Robert E. Brooker, chairman of the Chicago-based retailing and mail-order giant, said Ward would buy Los Angeles' MSL Industries Inc. for some $90 million in securities as a first step toward building "a substantial manufacturing complex." MSL last year rang up $116 million in sales of industrial fasteners, plastics and other products, earned $6.4 million-which is just the sort of tonic Ward can use. Suffering from tight pressure...
...worth some $87 million, the merged company will have combined sales of more than $450 million, a strong position as the U.S.'s fourth biggest publicly owned textile company (after Burlington Industries, J. P. Stevens & Co. and United Merchants and Manufacturers), and a new name: Dan River Fieldcrest Inc...
...tried to go uninvolved," Dr. Constable, one of a three-man mission sent by the Committee of Responsibility, Inc. to study civilian casualties, said yesterday. "But the large number of amputations and burns, many to children, make it hard to stay uninvolved," he added...