Rothschild announces merger
NZPA-Reuter New York The Wall Street brokerage house, L. F. Rothschild Holdings Inc., hit hard by the October stockmarket crash, announced on Monday it would merge with Franklin Savings Corp’s brokerdealer unit. Rothschild also reported 1987 fourth-quarter losses of SUSI2B.B million
compared with losses of SUSIS.4 million in the same quarter of 1986. Franklin Savings, based in Ottawa, Kansas, is a leading U.S. savings and loan association with assets of SUS9.OS billion. Franklin and Rothschild said they have signed a letter of intent to make Rothschild a wholly owned subsidiary of
Franklin Financial Services, which in turn will lend Rothschild SUS3O million. . The company, one of the first to lay off hundreds of workers after the stocks crash, also said it took a SUSS million charge in connection with the firings. It said its staff has been reduced to 1200 from 2200 before the collapse.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19880224.2.168.33
Bibliographic details
Press, 24 February 1988, Page 40
Word Count
148Rothschild announces merger Press, 24 February 1988, Page 40
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in