Word: merger
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Dates: during 1920-1929
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Periods of cheap money are usually accompanied by mergers and changes in corporate ownership. The basic reason for this is the readiness of the public to purchase securities at such times, plus the relatively high prices reached by securities when interest rates are low. The U. S. is apparently moving into another such merger period as 1900-06, except that today enthusiasm is more tempered with wisdom of ex- perience. But the figures are larger, except for the mammoth Steel Corporation merger of 1901. There are still few other billion-dollar corporations, yet in the last few years a large...
...already subscribed sufficient money to pay the huge cash price demanded. Bonds and stock of the Company will be offered for public subscription. Back in the after-War period, Dillon, Read & Co. refinanced the then tottering Goodyear Tire & Rubber Co., and from this fact some have thought that a merger with Dodge Brothers and possibly other motor and motor-equipment firms might be planned, of a size and importance to rival General Motors. The motor industry faces keen competition and undoubtedly calls for consolidations. But Dillon, Read & Co. denied the existence of any immediate plans for such consolidation...
With one exception, the Van Sweringens are having their own way with their projected Nickel Plate merger (TIME, July 7, Aug. 11, Aug. 18). Erie shareholders have voted to accept their terms for leasing the road to the new consolidation, thus marking the real end of the historic Erie as an independent road. Pere Marquette shareholders. according to report, are about to follow suit...
...Howell was on hand with another proposal: that a committee of Congress be authorized to investigate the proposed merger by the Van Sweringens of the Nickel Plate, Erie, Chesapeake & Ohio, Pere Marquette and Hocking Valley Railways, as well as the control of the Gulf Coast lines acquired by the Missouri Pacific...
...present railroad law invites mergers for the sake of efficiency, provided that they do not destroy a reasonable competition, and the Interstate Commerce Commission will consider the proposed merger in this light...