AMERICAN BUSINESS

Evening Post, Volume CXI, Issue 26, 1 February 1926, Page 5

AMERICAN BUSINESS

ITS SENTIMENTAL SIDE

HUGE BAKERY COMBINE

PROFITS FOR CHILD WELFARE.

(DNRID mil ASSOCIATION—COPIKIGBT.) (ADSIRALUN.NEW ZEALAND CABLE ASSOCIATION:)

(Received Ist February, noon.)

BALTIMORE, 31st January,

The unobtrusive filing Of papers incorporating the Ward. Food Products Corporation with a capitalisationl of 200,000,000 dollars has disclosed plans for one of the largest commercial combinations in the world, involving a gigantic merger oi: 157 baking establishments, producing one-tenth of the bread consumed in the United; States. There is also a unique business incorporation specification whereby profits, after preferred but before common stoeli dividends are paid, may be used to promote the welfare of the- American child, and make if, fit mentally and physically for citizenship..' ' "', The control of the corporation will be vested in William Ward, aged 41, whose family has ma3e millions from baking. Mr. Ward said: "I have so much money that I don't want any more.: I want to- drivyit, away quiet;, ly. Let such donations come from'-the business itself." /■■'

ftfr. Ward recently, gave, a million dollars and a thousand" acres-of land in New York State for the establishment of an. old folks', home.

The combination will enable Ward to carry out his ambition to* handle every angle of bakery arid' foo3 production from the, time . the grain is planted until the finished product reaches the consumer.- ..-■•■ ■