Mergers

Fox-Loew. Denied Nicholas M. Schenck, cinemagnate, President of Loew's, Inc. last January: "There has never been negotiation with Fox or anyone else, either corporation or individual, looking towards the sale of Loew's, Inc., or Metro-Goldwyn-Mayer."

Insisted William Fox, cinemagnate, President of Fox Theatres Corp.. in Manhattan, Feb. 27: "There is absolutely nothing to the report I have purchased Loew properties. I emphatically deny I am even conducting negotiations."

Last week was announced the acquisition by Cinemagnate Fox of Loew's, Inc., and its producing subsidiary, Metro-Goldwyn-Mayer Pictures Corp., bringing the estimated value of Fox holdings to $225,000,000. Almost immediately, Fox acquired two additional theatre chains controlling 113 houses: Walter Reade Enterprises (15) and Schine Chain Theatres (98). Total of Fox-owned theatres: nearly 600.

Brooklyn-Boston. Plans for the union of Abraham & Straus, Inc., Brooklyn's "biggest" department store and Wm. Filene's Sons Co. of Boston last week came to a head. Thus was forged another link in the chain begun when Jordan Marsh Co. and C. F. Hovey Co. entered the Hahn department store combine last December, and continued when Filene's absorbed R. H. White Co. soon after.

Lily-Tulip. At College Point, L. I, dwells Tulip Cup Corp. In Brooklyn, Public Service Cup Co. makes Lily cups. Last fortnight, Tulip came to Lily. Wedded, the Lily-Tulip Cup Corp. will produce over 1,000,000,000 paper drinking cups each & every year.

Cotton. Five New England cotton mills combined to attack in force their industry's depression. The mills: Valley Falls Co. of Albion, R. I; the Coventry Co. of Coventry, R. I.; Berkshire Cotton Manufacturing Co. of Adams, Mass.; the Greylock Mills of North Adams, Mass.; and Fort Dummer Mills of Brattleboro, Vt. Capitalization: about $9,000,000.