Word: mergers
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Dates: during 1960-1969
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Died. Walter J. Tuohy, 65, a merger master of U.S. railroading, who, as president of the Chesapeake & Ohio, proved for all time that two-or even three can live more cheaply than one, in 1963 paired his successful coal-hauling C. & O. with the deficit-ridden Baltimore & Ohio, thus producing a $65 million combined annual profit within two years, and this year (pending ICC approval) adding the Norfolk & Western line to build a network that in track (26,460 miles from Maine to Nebraska) and annual revenues ($1.82 billion) would rank as the nation's second biggest, next...
...Adopted a 3,000-word open letter to the churches involved in the union justifying the merger as an expression of God's will. circulated to the churches and, with their accepted suggestions, will form the basis of a formal plan of union...
...Proposed a timetable for merger that calls for creation and ratification of a union plan within 13 years, followed by some 30 years of federation during which a constitution will be prepared...
...think we have come out of this meeting with more strength than we intended when we went into it," said Bishop Gibson. In fact, plenty of obstacles remain before Blake's ecumenical dream becomes a reality. Although the delegates in Dallas were committed to merger, many privately wondered whether their churches were willing to make the surrender of power and principle that the union will demand. "The man in the street is for church union and motherhood," said President Ben Herbster of the United Church of Christ, "but when union means giving up St. John's down there...
Upon stockholders' and the Government's approval of the merger, Davies' man on the broad new American President bridge will be Raymond Wilmarth Ickes, 53, who last week moved to the A.P.L. presidency after four years in the same job at Pacific Far East...