Word: mergered
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Dates: during 1920-1929
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...plainly an era of mergers in practically every field of industry. Arnold Constable and Stewart & Co. will shortly consolidate. Seven pie baking concerns* have linked their future fortunes under the resounding title of Pie Bakeries of America, Inc. Last, but not least important, has been the proposed merger between the Huylers' stores and the F. W. Shattuck Co., operating the Schrafft chain...
Standard Oil evidently prefers to train its executives rather than acquire them through mergers. Last spring, Standard of Indiana acquired the Pan-American Petroleum and Transport Co. from Edward L. Doheny (TIME, Apr. 13). Potent in Pan-American was Herbert G. Wylie, long an able Doheny lieutenant. Shortly after the merger, Mr. Wylie found his occupation gone. Pan-American was now a subsidiary, and no longer an independent. Decisions were made by the Standard of Indiana heads, and the Presidency of "Pan Pete" became a sinecure job, without responsibilities or possibilities for individual initiative. This development little suited...
...Sweringen brothers, worn with testifying before the Interstate Commerce Commission on their proposed Nickel Plate merger, have repented of ever entering the railroad business, they at least give no sign of it. They are patient, courteous, frank. Counsel H. W. Anderson, representing the minority Chesapeake & Ohio stockholders, is infinitely inquisitive. Counsel Newton D. Baker for the Van Sweringens, continues to protest against a continued unlimited inquiry into the past of the present Nickel Plate. The Van Sweringens answer frankly all questions asked them. Meanwhile it is July in Washington...
...soon as the name of "Morgan" was heard, Mr. Anderson showed signs of special alarm-a common and popular habit beside the Potomac. He attacked the approval of the merger by the C. & O. stockholders as a "stock manipulation and a financing-rigging scheme." As to details, however, Mr. Anderson failed to specify. Just how these matters were relevant to the fairness of the Van Sweringen merger plan, he failed to state. Ex-Secretary of War Baker demanded that the scope of the inquiry in the future be limited. The I. C. C., impartial but sweltering, reserved its decision...
Last week the Interstate Commerce Commission announced that it would adjourn "for the summer months" on July 29. Inasmuch as the proposed railway mergers of the Van Sweringen brothers (TIME, Aug. 18, Apr. 6, 27, June 8, BUSINESS) are before the Commission awaiting approval or rejection, the adjournment will probably prevent action until fall. Since the Van Sweringen merger is a "test case," other mergers will probably be postponed accordingly...