NICKLE MERGER.

Gisborne Times, Volume LXVIII, Issue 10723, 22 October 1928, Page 5

NICKLE MERGER.

WILL CONTROL NINE-TENTHS

OF PRODUCTION

United Press Assn, by El. Tel.- Oopyrijlit .(Australian Press Assn.). ■'■■■<■ 'r(Received Oct. 21,- 5.5 p.m.) NEW YORK, Oct-.-20.

v The _ New York Times states - that Canadian and. English, interests are reported to have acquired control of the International Nickl'e Company, which, probably, will -be -merged with the Mond Nickle Company'; thereby bringing about a•- combination controlling 90- pen cent of the world’s nickle. The merger 'terms are said to include a cash payment of 7,500,000 dollars to. the C. Mond Company and 15,750,000 dollars worth, of 7 per cent, preferred ■ shares for standing-out of the Mond-prefer-red issues. It- is understood' - the consolidated company will have. i Canadian charter to avoid' " being amenable ,to the Sherman - anti-trust law. International nickle shares-’eri the Stock Exchange - here, to-day climbed to a dizzy height., Soine 182,500 shares changed hands 190, representing’ a seventeen point gain for the day. This stock, more! over, gave an impetus .to feverish speculattop on the generali marker, in which 4761 million ■ shares- /"Were sold, being the largest day on record. Favored issues reached a‘- hew height, including the - -Radio -Corporation of America, which reached 238, representing a . twenty . pqipt gain. ' ■ .‘V -