Word: mergers
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Dates: during 1930-1939
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...Allis-Chalmers & Advance-Rumely merger, while admitted by both parties, has been delayed by the difficulty of determining a proper ratio for the stock exchange by which the consolidation will be accomplished. In February, Advance- Rumely went through a somewhat intricate recapitalization, during which its name changed from Advance-Rumely Co. to Advance-Rumely Corp., and more significantly, the corporation issued common stock which it exchanged for the company's preferred stock-the same preferred on which dividends had been so long in arrears. It appeared last week that holders of Advance-Rumely stock would receive one share...
Sinclair-Rio Grande- Last week Harry Ford Sinclair, chairman of Sinclair Consolidated Oil Corp., was elected chairman of Rio Grande Oil Co. Rumors of a merger between the two companies have been current. Oilman Sinclair said nothing of the sort was planned for the immediate future but that he and Rio Grande officials will "arrive at conclusions with respect to their future course." Rio Grande produces, refines and distributes petroleum products. Its territory is chiefly in Texas, New Mexico, Arizona, California. Its chief trademarked products are Speedine and Rio Grande...
...necessary. If facts developed indicate that a given combination is not inimical to public interest and does not violate the spirit of the Sherman law, then the Federal Trade Commission should be empowered to issue a certificate which will grant immunity from criminal prosecution of those individuals forming the merger...
...govern the operations of personal finance companies. Mr. Hodson opened a loan shop in Newark, N. J., just before that State passed the Small Loan Act in 1914. He immediately started expanding his operations. In 1929 the present Beneficial Industrial Loan Corp. was formed by a big merger. It now has 318 offices in 200 cities and communities. Last year it loaned $66,000,000 to 413,345 families. Since the death of Mr. Hodson in 1928, Beneficial's president and chairman has been Charles Henry Watts, 50, who started business as a collector of delinquent loans in Grand Rapids...
...issue on which the war will be fought is a proposal to move the com- pany's offices from Calumet, Mich., to Manhattan. Loudly does President Campbell oppose this. He warns shareholders that the move would hasten the long-rumored Calumet-Phelps-Dodge merger, which he strenuously decried last week...