Word: merger
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Dates: during 1920-1929
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...nation-wide plan for consolidation. The carriers were then weak and shaky after Federal operation. It was argued that consolidation would link the strong with the weak, eliminate wasteful competition, put all roads on a profitable basis. Professor William Zebina Ripley of Harvard produced for the Commission a merger plan in 1921 which caused such dissension that it was quickly junked. Vainly the Commission wrestled with the Congressional order, made no apparent progress. Impatient at the delay, some roads (Nickel Plate, Baltimore & Ohio, Northern Pacific) brought in voluntary merger plans only to have the Commission reject or ignore them...
Significance. Heretofore the I. C. C., by rejecting merger proposals, has been telling carriers how they might not consolidate. Its own plan serves to show roads how they now may. The Commission has no power to compel roads to merge in accordance with its plan, which it frankly states is subject to "modification." Since rail consolidations became a public policy in 1920, grave doubts have arisen as to their present necessity. Carriers have improved financially by leaps and bounds, with few weak roads needing the aid of strong ones. The agitation in Congress for additional consolidation legislation is designed...
...less strange to him. Once in, he stayed in; acquired a controlling interest in many another steel company; created one of those vague but formidable entities known as an interest. Steel men, surveying the various steel companies included in the Eaton steel interests, began to predict a merger that would leave United States Steel and Bethlehem Steel no longer so pre-eminently first and second largest steel companies that the position of third largest carried with it only a statistical distinction. Last week a portion of the merger rumors came true in the formation of Republic Steel Co., Eaton consolidation...
Republic Iron & Steel is the keynote of the new structure. Organized in 1899, from a merger of 24 small steel companies, chiefly in Ohio and Indiana, the company last year went through a rapid expansion program which included acquisition of Trumbull Steel Co. and Steel & Tubes, Inc. There were also continuous but as yet unfulfilled rumors of a merger with Youngstown Sheet & Tube Co., in which Mr. Eaton is also interested. Republic Iron & Steel showed a net of $4,642,000 in 1928 and a net of $8,667,530 for the first nine months...
Internal Monopoly: Merger of Western Union and Postal (I. T. & T. subsidiary) into one telegraph company...