Mergers

Railroads. The Van Sweringen brothers gained control of the Buffalo, Rochester & Pittsburgh Railway, on which Leonor Fresnel Loree (trying to make a fifth eastern railroad system) for a time had an option to buy.

Giannini Banks. As the bank of America (with headquarters at Los Angeles), Amadeo Peter Giannini's United Security Bank & Trust Co. of San Francisco and his Merchants National Trust & Savings Bank of Los Angeles are merging their 140 branches and $395,000,000 resources. This California Bank of America is distinct from the Bank of America National Association, which Mr. Giannini's men created last spring with three New York banks. These two Banks of America and their constituent organizations are on very friendly financial relations with each other and, of course, with Mr. Giannini's San Francisco Bank of Italy, and with his investment company which owns so much of their individual and merger stocks--the Bancitaly Corporation. There promises to be a nation-wide banking merger of all his factors.

New York Banks. Bank of the Manhattan Co., second oldest in the U. S.,* is absorbing the First National Bank (founded 1852) of Brooklyn, that community's oldest commercial bank. Combined resources: close to $300,000,000.

Municipal Bank & Trust Co. and Seventh National Bank of New York, New York City banks, merged their 20 offices and $75,000,000 resources.

Canadian Airlines. The inevitable linking up of air transportation lines has taken place in Canada, where Inter-provincial Airways, Ltd. ($30,000,000 corporation) has bought six disjointed lines.

Concert Managers. Wolfsohn Musical Bureau (oldest in the U. S.) sold out to Concert Management Arthur Judson, Inc. (most potent); at the same time Arthur Judson's affiliated Judson Radio Program Corp. bought out Adams Broadcasting Service.

Bakeries. United Biscuit Co., one-year-old consolidation of nine companies, is adding a tenth, Ontario Biscuit Co. with plants at Buffalo and Pittsburgh.

Purity Bakeries Corp., which like United Biscuit is a chain in states between the Allegheny and Rocky Mountains, is buying Tip--Top Baking Co. of Louisville.

Smelters. American Smelting & Refining Co. bought up Michigan Copper & Brass Co., among whose directors are William H. Pierce (chairman), George H. Allen (president), Alfred P. Sloan Jr., Walter P. Chrysler.

Laundries. Another field for mergers is that of laundries. Last week bankers were grouping 19 laundries and dry cleaning companies of Illinois and Iowa as Mid-Continent Laundries, Inc.

Special Shoes. Ground Gripper Stores, Inc. and Kahler Shoe Co. sell special shoes to correct foot ills. They have consolidated with Powers Realty Trust (owner of a shoe factory at Roxbury, Mass.) as Ground Gripper Shoe Co., Inc. They have 103 retail stores in leading U. S. cities and, besides, 1,000 exclusive dealers.

Ginger Ale. At Toronto and Edmonton, Ontario, J. J. McLaughlin Ltd., and at Montreal, Quebec, Caledonia Springs Corp. Ltd. make ginger ale for Canada Dry Ginger Ale Inc. to sell all over the world. Canada Dry owns both the Canadian companies; the two had & have the s ^

* Aaron Burr founded it by ruse in 1799. The older Bank of New York & Trust Co., was founded 1784 by Alexander Hamilton, whom Burr later killed in a duel.