Word: merger
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Dates: during 1920-1929
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...Merger of the National Park Bank and Chase National Bank of New York (TIME, June 24) went into effect. Celebrating the event, the merged bank (Chase National), now having 31 offices, three abroad and 28 in New York City, announced that it now has $242,069,453 of capital funds (surplus and undivided profits...
Swift-tongued rumor had been busy before, anticipating a merger of banks in Boston, a merger in particular between Old Colony Trust Co. and First National Bank. Last week Philip Stockton, president of Old Colony, admitted that his company had entered merger discussions which had been broken off-and then renewed, with no decision yet reached. Believing that what a bank president calls a possibility is a sure thing, would-be stockholders eagerly hoisted the price of Old Colony stock in one day from $815 (bid) to $910 (bid). Very little stock was offered...
...Colony has resources of $207,000,000 and five Boston branches besides its main office. First National has $403,000,000 of resources, and besides its main office, twelve branches in Boston, one in Buenos Aires, three in Cuba (at Havana, Santiago, Cienfugos). If the merger is effected it will produce no chain of banks, but one $610,000.000 bank with a head office and 22 branch offices...
...Goods. United Dry Goods Corp. was founded to unite a group of wholesale dry goods concerns, including Finch Van Slyke & McConville of St. Paul; Watts, Ritter of Huntington (W. Va.); Walton N. Moore of San Francisco; Arbuthnot, Stephenson of Pittsburgh; A. Krolik of Detroit. Assets in this merger total $25,000,000. Its purpose: to combat chain stores and others buying directly from the manufacturer by forming a chain of middlemen. Possible future additions to the merger: Ely & Walker of St. Louis; Carson, Pirie, Scott of Chicago; Hibben, Hollweg of Indianapolis; Perkins of Dallas...
...Magnatron Co. The combined capacity of these companies (to which others may be added) is said to be between 25 and 35 million radio tubes a year. Fifty million tubes were sold in 19:8; 80 million are expected to be sold in 1929. In tube production the new merger will thus be a rival for Radio Corp. with which it has reciprocal patent licensing arrangements...