Word: mergers
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Dates: during 1930-1939
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...members, the Colored M. E. Church, founded with the aid of white Southern Methodists, numbers 300,000. Same 210,000 Negroes belong to black congregations of Northern Methodist jurisdiction, will be grouped in a jurisdiction of their own (against the will of many Negroes) if the proposed merger of Southern and Northern Methodists goes through (TIME, Aug. 26, 1935, et seq.). The church which Philadelphia's Bishop Allen founded claims 1,000,000 members in the U. S., West Indies and Africa. Governed by no central authority, it has 15 bishops and a clergy of 8,000. Host...
While Universal operated always in the red, International News Service had inched into the black in 1935, doubled its list of clients to over 700 papers, mostly evening. The merger makes I. N. S. a 24-hour-service and gives it such feature writers as Damon Runyon, Bugs Baer and Louella Parsons...
...proposed merger of Detroit's Motor Products Corp. with Detroit's body-building Briggs Manufacturing Co. (TIME. Dec. 21): A Vote by the Briggs stock-holders last week to drop the plan...
...uncommon flair for public relations. To newshawks last week Mr. Young handed photostats of the chart used by the Wheeler committee during the Washington hearings on the Van Sweringen empire. Through all holding companies which have been, or would be, segregated or eliminated on completion of the Alleghany-Chesapeake merger, Mr. Young had drawn heavy black lines. Crossed out were 17 non-railroad holding companies and Midamerica Corp., the tiptop unit set up by Mr. Ball. Today The Chesapeake Corp. owns about 35.5% of the stock of Chesapeake & Ohio Railway Co., and Alleghany owns 71% of the stock...
...Chesapeake is concerned, the merger offers no complications. It has only common stock outstanding, and its shareholders will be offered the choice of either one and one-half shares of the Chesapeake & Ohio Railway Co. common stock, the holding company's principal asset, or one share of a prior preferred stock in the new company. Alleghany's capitalization is more complicated-common stock, two issues of preferred, three bond issues. Two of the bond issues will be assumed by the new company. Holders of the third issue, the famed 5s of 1950, will be offered $200 in cash...