Word: nationale
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Dates: during 1920-1929
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When U. S. producers feel the need for combination in their industry they proceed warily with one eye on the anti-trust laws. Foreign producers, however, have few inhibitions, not only in combining corporations but in regulating markets, production, prices. Thus last week a group of British and South American...
When, last March, Elisha Walker's Blair & Co. merged with Amadeo Peter Giannini's Bank of America, N. A. (TIME, April 1), the union was generally interpreted as a combination of Giannini resources with Blair & Co. personnel. When, last month (TIME, June 3), Banker Giannini announced that his...
Potent was the bank of America-Chatham-Phenix consolidation. It created Fourth Largest Manhattan Bank (after National City, Guaranty Trust, Chase-National Park). Combined capital of the two banks is $38,500,000; combined surplus and undivided profits are $53,082,662 ; combined total resources $726,399,324.
History of the two companies goes back to 1812, when both Bank of America and Phenix National were founded. During its entire 117 years of business life, Bank of America has not budged from its Wall-and-William-Streets site, though its present building was erected in 1926. Amadeo Peter...
The merged Bank of America and Chatham-Phenix institution will be presided over by President Louis G. Kaufman of Chatham-Phenix. Amadeo Peter Giannini will probably become Board Chairman. Elisha Walker will head the investment affiliate. It is expected that two Brooklyn banks-Traders' National and Nassau National will...