Word: phenix
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Dates: during 1920-1929
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...however true were these predictions, there have happened since 1925 events that even visionary President Kraft could not have foreseen. In 1928 Kraft Cheese Co. acquired Phenix Cheese Corp., changed its name to Kraft-Phenix Cheese Co., became dominant in the U. S. More companies have been added constantly. Late this summer it became known that control of Kraft-Phenix had passed to Selected Industries, Inc., and affiliated investment groups. But bigger than any of these developments was an announcement last week that Kraft-Phenix would be a unit in a new food company sponsored by the National City Bank...
...Brands, which retains the identity of its units but profits through economy in distribution. Chief unit of Standard Brands was Fleish-mann Yeast Co. with a highly specialized, rapid system of distribution famed in fact and romance. Another was nationally sold Royal Baking Powder. To the new company Kraft-Phenix Cheese Corp. brings an international distribution system that embraces food stores, while the marketing systems of Hershey and Colgate include candy and drug stores. With this nucleus other companies can be added, swiftly expanded...
...Selected Industries, Inc., whose holdings include a substantial interest in Kraft-Phenix Cheese Co., last week's purchase was consistent with a policy of investment in standard commodities. The demand for orchids is constantly increasing, and the price has been stable. Only companies with large capital, long experience, and adequate plant facilities can supply the increasing demand. All these conditions are met by the Thomas Young Nurseries, largest orchid growers in the world. The 28 Young greenhouses are spread over 55 acres. Inside these greenhouses, where the native climate of each species of orchid is reproduced, are some...
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 Giannini acquired control (from Ralph Jonas and Associates in Financial & Industrial Securities Corp.) in 1928, added to it two smaller Giannini banks and the N. A. (National Association) portion of its name. The Phenix Bank merged with Chatham National (founded 1850) in 1911, added other banks...
...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 soon join the Bank of America family. Because news of the merger leaked out prematurely, and because merged banks are hard to christen, no name for the new institution had been chosen last week...