Word: mergers
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Dates: during 1930-1939
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What Geologist Putnam decided to do. and did do last week, was to buy out his cousin, the Vice President. Then, to bring new blood into the old house and fill the executive hole, he arranged a merger with the six-year-old firm of Minton, Balch...
Died. Myron C. Wick, 38, Ohio broker, plaintiff in the suit to enjoin the merger between Youngstown Sheet & Tube Co. and Bethlehem Steel Corp.; of pneumonia, a week after he had been taken ill in court, at Youngstown...
Arguing that Youngstown Sheet & Tube Co. stockholders have-in view of proposed merger-a right to know how much Bethlehem Steel Corp. pays its executives, last fortnight Cyrus Stephen Eaton's smart attorneys ferreted a phenomenal fact from Bethlehem's President Eugene Gifford Grace. In 1929 he received a salary of $12,000; a bonus of $1,623,000. Elated at this success, last week the Eaton attorneys went for bigger game. If Mr. Grace received $1,623,000, how much might not Chairman Charles Michael Schwab get? But while the figure was successfully disclosed, it proved...
...which the Eaton lawyers went about with great vim & vigor. After challenging proxies for a total of 128,400 shares in one day, the Eaton forces declared that they were ready to challenge "thousands more" even hinted at attacking the constitutionality of the Ohio corporation code under which the merger was ratified. The $800,000 loan by Bethlehem to Cleveland's Pickands, Mather & Co. for the purpose of buying Youngstown stock, which has been the King Charles's head of the suit, inevitably came up. R. E. McMath, Bethlehem secretary, when asked whether Partner Elton Hoyt...
...Socony and Vacuum combined were down in sixth place (57,986.000 bbl.). In daily refinery capacity he put Standard of New Jersey first (718,000 bbl.), Dutch Shell second (704,000 bbl.), and Socony-Vacuum fourth (263,000 bbl.). Thus, concluded Mr. Sheets triumphantly, tne Socony-Vacuum merger would produce no world-bestriding Colossus of Oil, but, en the contrary, a corporation of comparatively modest size. To this conclusion Special Assistant Attorney General John H. Amen objected on the grounds that Mr. Sheets had said much about oil resources, little about financial resources. After further hearings in other cities...