Word: mergers
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Dates: during 1930-1939
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...aside to launch into a tirade against public utilities, his favorite political theme. He warned the Governors of the political domination of the Power Trust. He named four groups: Mellon-Morgan, Insull, North American, Harris-Forbes. These, he said, generated about 95% of U. S. electricity. He predicted their merger into one colossal combination. Excerpts from a speech which got the biggest applause of any at the conference...
...became its president, without salary. His son was made treasurer and given the reins. Bitter competition arose from Corn Products Co. ("The Glucose Trust"). The elder Bedford became more & more active. In 1906 Corn Products, its earnings vanishing, pleaded for mercy. It was granted in the form of a merger. Mr. Bedford abandoned his oil interests in order to head the new Corn Products Refining Co. Behind him in the oil business he left his brother, Frederick H. Bedford, and his son Charles Bedford, now vice president of Vacuum Oil Co. Below him he placed his son Frederick as treasurer...
Gerard Barnes Lambert, son of the founder of Lambert Pharmacal Co. and its onetime president (1923-28), was made president of Gillette Safety Razor Co., succeeding Henry Jaques Gaisman who becomes chairman. Mr. Gaisman has apparently worked his way to dominance in Gillette since the merger with Auto Strop of which he was chairman, for John Edward Aldred, previously chairman and one of the premerger Gillette group, last week resigned. Mr. Lambert's election was a surprise, for since leaving Lambert Co. he has done nothing to indicate he cared to enter the business of razor-making. His interests have...
...Sheet 6 Tube Co» Since Mr. Eaton's Youngstown stock is classed as "dissenting," cannot vote, his election was due to the votes of his long-time opponent, James Anson Campbell, Youngstown president. Hence the election was widely interpreted as a peaceful settlement of differences and as forecasting the merger of Bethlehem with Youngstown...
Undoing. Like everyone else's, Mr. Eaton's troubles began with the stock-market crash of November 1929. On top of this came the long and costly battle against the Youngstown-Bethlehem Steel Merger. Unwilling to sell his Youngstown stock and, for tactical reasons, forced to buy more, Mr. Eaton was soon in an over-extended position. He needed cash. So, at the end of 1930 he (through Otis & Co.) sold to Continental Snares one of his richest plums: 40% of the voting stock of United Light & Power (the $500,000,000 utility system which was Mr. Eaton's first...