Word: mergers
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Dates: during 1960-1969
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...Washington, Attorney General Nicholas Katzenbach announced a com promise agreement to settle the Government's suit against the 1961 consolidation of Manhattan's Manufacturers Trust Co. and the Hanover Bank into the Manufacturers Hanover Trust Co.−a merger declared illegal in Federal court earlier this year (TIME, March 19). Although Katzenbach revealed no details, the $7 billion, 135-branch Manufacturers Hanover Trust has reportedly agreed to shed as many as 40 branches by selling them to smaller competitors or forming them into a new, completely independent New York bank...
...September paychecks. In another slap at McNamara, a House Armed Services Subcommittee disapproved by an 8-to-l vote the Pentagon's cost-cutting proposal to merge the Army Reserve with the National Guard, supporting the argument of its chairman, Louisiana's F. Edward Hebert, that the merger "would result in an immediate and serious loss in the combat readiness of the affected Reserve units." The House also passed and sent to the Senate a $1.7 billion supplementary military appropriations bill, which provides almost $100 million for U.S. bases in Viet Nam and surround ing area. In other...
...church was really not interested in following through with the Blake proposal, he asked, "would it be wiser to withdraw now rather than later?" In the current issue of the Journal of Ecumenical Studies, Methodist Church Historian Franklin Littell complains that his church's leaders have approached merger "with the mind-set of 'all deliberate speed.'" He further charges that the present self-satisfied state of Methodism as the one truly national church precludes any serious involvement in the ecumenical task...
...Ready." Although harshly put, the charges of Outler and Littell ring true to many other Methodists. "We're not ready for organic merger," admits Bishop Donald Tippett of San Francisco, a supporter of the Blake union. Many Methodist leaders believe that priority in church goals should go to resolving internal problems. Bishop Paul Martin of Houston, for example, argues that Methodism has its hands full attempting to integrate the Negro Central Jurisdiction into previously all-white church structures and carrying out a scheduled 1968 merger with the Evangelical United Brethren, a Methodist-like body of German origin...
...members wouldn't know what you were talking about." According to the Rev. Albert Shirkey of Washington's Mount Vernon Methodist Church, "the pulpit is far more interested than the pew"; yet other church observers feel that some ministers have been reluctant to talk up union because merger threatens their job security...