Word: mergers
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Dates: during 1920-1929
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...several shadows thrown before the Republic merger event was last month's (TIME, Nov. 4) resignation of Tom Mercer Girdler from the presidency of Jones & Laughlin, Pittsburgh's great "family" steel company. Last year Jones & Laughlin made Mr. Girdler president, having heard that the Eaton interests were negotiating with him, so that his departure from Jones & Laughlin indicated that Mr. Eaton had some large fish ready to fry. Mr. Girdler, who has spent nearly 30 years in various steel mills, swears vigorously and always keeps his hat on, to be ready for emergency calls...
Perhaps a very farsighted steel observer could have forecast the Republic merger as long ago as April 1928, when another steel man in whom Mr. Eaton was interested also changed jobs. This man was Elmer T. McCleary, who, after 22 years with Youngstown Sheet & Tube, left its vice-presidency to become president of Republic Iron & Steel. Under the McCleary administration Republic acquired Sheet & Tube, and in 1929 will more than double its 1928 earnings. McCleary habit: to work 12 hours a day 365 days a year. McCleary pride: the new electrical welding process which Republic acquired in taking over...
...Merger. There is many a venerable bank which only after years of business considers a merger. But last week directors of Underwriters Trust Co. of New York, three weeks old, admitted they were already discussing a merger with the two-year-old Sixth Avenue Bank...
...week Williams, Harvey & Co. joined with three other large British tin smelters in a provisional plan to form the largest tin smelting organization in the world. Behind the consolidation is seen the influence of Patino, the Anglo-Oriental tin interests, and the new Tin Producers' Association. From this merger which affects about half the world's tin supply, is expected to come the long-awaited stabilization of tin production and price, one of the purposes of the Tin Producers' Association...
...Aviation Corporation, $40,000,000 holding company, announced last week the formation of a subsidiary corporation (name unannounced) to consolidate under one sub-president its transport activities, which constitute 30% of all scheduled air transportation in the land. To head the sub-merger Aviation Corp. chose an expert traffic man, James Franklin Hamilton, president of New York State Railways, Schenectady Railway and United Traction...