Word: mergers
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Dates: during 1930-1939
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Such a decision pleased nobody. Ralph Budd, G. N. President, Charles Donnelly. N. P. President, declared that the G. N. P. had to have the C. B. & Q. to reach Chicago from Minneapolis, that it was the eastern pivot of the whole merger. Sena tors and congressmen from the northwest flayed the juncture of these two roads, insisted that it would reduce competition in that territory to the vanishing point...
Last week brought a significant break in the eastern rail consolidation deadlock, when the Baltimore & Ohio withdrew from the Interstate Commerce Commission its self-made merger application. This was taken to mean that the B. & O. accepted the Interstate Commerce Commission's plan, that it would shortly file a new application to execute the consolidation the Commission had mapped out for it. Roads in the Commission's B. & O. merger: Reading, Jersey Central, Buffalo, Rochester & Pittsburgh, Buffalo and Susquehanna, Detroit, Toledo & Ironton (½), Chicago & Alton, Chicago, Indianapolis & Louisville...
...prime interest is the B. & O.'s merger with Reading which controls Jersey Central. B. & 0. owns 34% of Reading; New York Central owns 25%. General was the belief that N. Y. C. had agreed to transfer its Reading stock to B. & 0., thus giving B. & O. control and a guaranteed entry to New York. For B. &O. to be the first road to accept the Interstate Commerce Commission's merger plan was not surprising, for thus this great system has made a deliberate and successful effort to accommodate the U. S. Government. No rail president is more...
...Merger. The union of the two companies would create a concern with assets of about $900,000,000, with earnings far above those of Standard of California, about equal to Standard of Indiana, but below Standard of New Jersey. The two companies would distribute petroleum products equal to about 9% of the total U. S. consumption. Especially potent would be the new combination in battling the Royal Dutch-Shell group which has been engaged in combat with Standard of New York both here and abroad...
Like the advertisement-girl who was often a bridesmaid but never a bride, Vacuum Oil Co. has many times been rumored as about to ally with Standard Oil of New York, has just as many times failed to complete the alliance. Last week the merger was announced, with just one hitch. The hitch was that both companies are fragments of the old "Standard Oil Trust," and strong will be the belief that what the Supreme Court has rent asunder no man may dare put together. To argue against this, the companies will maintain, when the government brings a trial injunction...