Word: mergers
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Dates: during 1950-1959
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Source of the explosive proposal was a committee of 30 Anglican and Presbyterian churchmen, established in 1954 to examine the idea of a merger, after decades of mellowing relations between the two churches. This spring the committee hopefully recalled the uniting of Anglicans. Presbyterians, and other Protestant denominations in South India (TIME, Oct. 13, 1947), unanimously advocated the merger. "Disunity . . ." wrote the committee, "spells a deeply damaging contradiction between message and life . . . The church cannot...
Vigorous Shush. From Glasgow, Balmoral and elsewhere, the merger plan has brought threats of secession from the church by outraged dominies. Anglicans had little to say, possibly because the addition of elders to an already existing hierarchy is not so shocking to them as the creation of a new hierarchy is to Scots. But privately, Church of England leaders kept their ears trained on Edinburgh. Last week the General Assembly in Edinburgh elected Dr. George F. MacLeod its new moderator despite his known promerger leanings, vigorously shushed a delegate who opposed his election. But whatever sounds of ecumenical accord come...
...executive at International Business Machines and waxmaker S. C. Johnson & Son before taking over Underwood's presidency in 1955 with the job of reorganizing the company from top to bottom. When the company continued to lose money and Underwood's board of directors turned down a proposed merger with National Cash Register Co., President Farwell had no choice but to resign. Replacing him is another Yaleman ('33), Vice President for Finance Frank E. Beane, 44, who will take over as Underwood's chairman (previously vacant) and chief executive officer...
THREE-WAY MERGER is proposed by boards of Textilemaker Bachmann Uxbridge Worsted Corp. (1956 sales: $33 million), American Hard Rubber Co. (sales: $27 million) and Wardell Corp., which sold its Eureka vacuum-cleaner business in 1953. If stockholders approve, stock swap will produce new, diversified industrial company to be called Amerace Corp...
...long-abandoned post of board chairman, also gave Gurley the newly created title of chief executive officer-though Marsh will have operating charge of the railroad. ¶Stanley de Jongh Osborne, 52, was named president of Olin Mathieson Chemical Corp. in the first top management changes since the merger of Olin Industries, Inc. and the Mathieson Chemical Corp. in 1954. He succeeds Thomas S. Nichols, 58, who will become chairman of the board. Old Board Chairman John M. Olin, 64, will become chairman of the Financial and Operating Policy Committee. Osborne attended Harvard ('26) and Harvard Business School, taught...