Word: mergers
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Dates: during 1950-1959
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...biggest bank merger in U.S. history was set up last week. Directors for the Chase National Bank (No. 3 in the U.S.) and the Bank of the Manhattan Co. (No. 15) agreed on terms to combine their total deposits of $6.9 billion, create the nation's second biggest bank (after California's Bank of America, with $8.3 billion in deposits). Name of the new bank: The Chase Manhattan Bank...
...merger of the Boston and Maine and the New York, New Haven, and Hartford railroads proposed recently by New Haven president Patrick B. McGinnis would "not necessarily be harmful to the economic interests of New England," Charles R. Cherington '35, professor of Government, said Monday night...
Meanwhile, Governor Christian A. Herter '15, alarmed at the merger, conferred yesterday with William J. Cunningham, the author of a 1930 study against a linking of the two roads. Herter said last week that he objected to the possibility of non-New England financial interests gaining potentially monopolistic control over New England rail transportation...
McGinnis, a New York financier who recently wrested control of the New Haven from Frederic C. Dumaine, Jr., stated last month that three of his friends had purchased controlling stock in the Boston and Maine. The New Haven president proposed at that time a merger of the two roads within the next three years...
...BANK MERGER between Boston's Second National Bank and the State Street Trust Co. will result in New England's largest state-chartered bank, with assets and deposits of $700 million...