Word: trusts
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Dates: during 1920-1929
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Initial holdings of Allegheny Corp. include shares in Chesapeake Corp., Nickel Plate, Buffalo, Rochester & Pittsburgh, Chesapeake & Ohio and Erie, all of which have been Van Sweringen stocks. The corporation is also empowered to make further investments, principally in railroad stocks. It can therefore function as a railroad investment trust as well as a Van Sweringen holding company. It has, however, no power to operate railroad properties or to engage in banking...
Guaranty-Commerce. The largest merger rumor, persisting over many denials, related a forthcoming union between Guaranty Trust Co. and National Bank of Commerce, both of Manhattan. Should this rumor?which has proceeded to the "reliably informed" and "authoritative sources" stage?be true, the resulting combination would constitute the world's largest bank. Guaranty Trust has resources of $1,052,000,000; National Bank of Commerce has assets of $934,000,000? thus the merged banks would form a two-billion-dollar institution. Combined deposits of the banks would total $1,570,000,000. An exchange of stocks would probably...
Textile Merger. Consolidation of Frederick Vietor & Achelis with Peierls, Buhler & Co., Inc., leading textile financing firms, was last week announced by Commercial Investment Trust Corp., which has acquired control of both organizations. Resources of the combined firms total $35,000,000; annual sales are in excess...
...business of America is business," most of his listeners thought at once of Big Business-U. S. Steel Corp., Standard Oil of New Jersey, General Motors, etc., etc. But for every billion-dollar corporation there are countless thousand-dollar corporations. For every Big Business that worries about the anti-trust law there are many small businesses that worry about the sheriff. And perhaps it is the little business that moves in the most mysterious ways its wonders to perform...
...Guaranty Trust Co. (Manhattan...