Word: mergers
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Dates: during 1920-1929
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...point rise gave him a paper profit of 24 million dollars. Meanwhile shares in Chase, Equitable, and many another Manhattan bank also enjoyed sensational rises. The bull movement in bank stocks was based on the official ratification of the Guaranty Trust Co.-National Bank of Commerce merger (TIME, March 4) and the resultant activity of rumor-spreaders who busily reasserted and consolidated Manhattan's banking...
...merge with Bankers' Trust; that National City would merge with Equitable Trust Co.; that Chase National would unite with Brooklyn Trust Co. Then there was a truly robust rumor that linked Guaranty Trust Co., National Bank of Commerce, Bankers' Trust and First National in a Morgan-group merger that would be the super bank of all the world. The rumors were all denied and seemed to consist of smoke rather than fire...
Guaranty-Commerce. Merger of Guaranty Trust and National Bank of Commerce, however, was officially established with announcement of officers of the combined institution. No name has been given to the combination, though it was reported that the new bank might be known simply as Guaranty Trust Co., a procedure which would cause Bank of Commerce to pass out of existence in the goth year of its age. As far as merger officers are concerned, Commerce gets the board chairmanship, Guaranty Trust the presidency, as James Strange Alexander, chairman of the board of National Bank of Commerce, and William C. Potter...
...Myron C. Taylor, U. S. Steel man, and Mr. Sabin are also said to have been the merger master-minds...
Founded in 1839. National Bank of Commerce has a comparatively merger-fre history of steady growth. Its present prosperity has resulted chiefly from efforts of Board Chairman James S. Alexander, whose son and namesake is second vice-president. President is Stevenson Ward. Last week there was no inkling as to the merger-bank's officers...