NEW TOBACCO COMBINE
...Announcement has-been made .of another big-bjlsiness merger, following the amalgamation of. the Lackawanna andij Bethlehem Steel Companies, reports the New York 'correspondent of the London \Daily Telegraph. Approximately 157,----000)000 -dollars (about £55,000,000) are .involved in this transaction, which ..is. the merging of the Tobacco. Products Corporation ■ with the United Retail Stores Corporation, with Mr. James" R. '■ Duke resuming an. active role, as the "Tobacco King." Mr. Duke in 1889 organised the American Tobabco Company; the first -tobacco "trust," and was its■ president until 1912. In that year, lie became a director of the Imperial Tobacco Company, of London; 'The Tobacco Products Corporation'; the largest wholesale 'distributors of tobacco in the world, agrees under the terms, of t-be present merger to raise its capital from 33,000,000 dollars t0'157,000,000. dollars, to cover an ev«n exchange.;of stock. The "merger will be followed, on the other, hand,-by the opening of additional-United Retail stores - throughout the country. The United Retail Stores Corporation is-the largest, retailer of tobacco ..in the world, .and operates a "chain" of. thousands of. shops, in- all parts of -the United States. • ■ ■ -••■..'■
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19220729.2.125.12
Bibliographic details
Evening Post, Volume CIV, Issue 25, 29 July 1922, Page 12
Word Count
183NEW TOBACCO COMBINE Evening Post, Volume CIV, Issue 25, 29 July 1922, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. 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.
Log in