Indianapolis Times, Volume 37, Number 257, Indianapolis, Marion County, 26 February 1926 — Page 7

FEB. 26, 1926

URGETO MERGE ABROAD lit U. S., RECORD IN 1925 • - Railroads, Oil Companies, Banks, Bakeries, Autos, All Combine. Bu Times Svecial NEW YORK, Feb. 26.—More commercial mergers and consolidations have been completed during the past year than during any similar period in American history. Producers of everything from silk thread to tenton trucks are feeling the Impulse to join themselves with others in their own lines. Banks with resources of hundreds of millions are entering into consolidations. Likewise railroads and public utility corporations. There remains hardly any line of business that has not been affected. Belding Brothers, one of the country’s oldest manufacturers of silk thread, recently acquired control of a rival concern, the Hemingway Manufacturing Company. The National Dairy Products Company, a far-flung dealer in milk and butter and ice cream, recently bought out the Breyer Ice Cream Company, the Franklin Ice Cream Company and Dther competing concerns. The attempt to launch the two billion dollar Ward Food Products Company is but the culmination of half a dozen important mergers have marked the recent hlsMy of the wholesale baiting industry. And while the bakeries were being consolidated, the Ginter Company bought out a chain of 640 grocery stores formerly owned by O’Keefe’s, and was in turn bought out by the First National Stores,

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Inc. The National Food Products Corporation is now engaged in attempting to combine the Interests of no less than ten chain store systems. Mergers which recently have taken place in the automobile industry are said to be only forerunners of others. The General Motor Company has acquired control of the Yellow Truck and Coach Company. The Willys-Overland Company bought the F. B. Steams Company. The Interests of the Chandler and Cleveland companies have been consolidated. In San Francisco the Standard Oil Company of California has swallowed bodily the tremendous Pacific Oil Company, which was Itself capitalized at more than $200,000,000. In Chicago the Standard Oil of Indiana has taken over the Mexican and other foreign interests of the PanAmerican Petroleum Company, also a transaction running into many millions. The Standard Oil of New York and the Standard Oil of New Jersey have not been idle. The former recently bought the Magnolia

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Petroleum Company, the latter the foreign properties of several companies. Other oil companies, the Bamsdall, the Waite Phillips, the Associated, Lago Petroleum and others likewise have indulged in mergers. New York’s second “billion-dollar bank” will come into being shortly. The Mechanics and Metals National Bank, founded by a group of mechanics in 1810, and the Chase National Bank, founded in 1870, wflll unite as the Chase National Bank bf New York City with total resources approximating those of the City National Bank, now the great-

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THE INDIANAPOLIS TIMES

est bank in the country. In New York alone there have been five other important bank mergers recently. Railroad mergers, headed by the Nickel Plate consolidation, have been announced in all parts of the country. The Atlantic Coast Line has taken over several small feeders. The St. Louis and San Francisco has announced the purchase of control of the Rock Island —giving a combined mileage of over 12,000. The Chicago & Northwestern has purchased the Chicago, St. Paul, Minneapolis & Omaha. The half-dozen important railway mergers already

awaiting approval are part of a score and more that are planned Public utility companies are Just as busily engaged in merging. The Standard Gas and Electric has purchased the California-Oregon Power Company. The Columbia Gas and Electric has purchased the Ohio Gas and Electric and the Dayton Gas companies. This does not by any means exhaust the recent mergers, some of the others being: Famous Players bought Balaban and Katz. American Car and Foundry bought

J. G. Brill & Cos.; Hall, Scott Motors Company and Fageol Motors. Dodge Brothers bought Graham trucks. Kresge Department stores have consolidated stores in Washington and in Chicago. The Gold Dust Conyxiny bought Dailey & Cos. Savage Arms has acquired control of several electric refrigerator concerns. Stake Klok-lax Jbiliotume'S'J'

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