3500 SHOPS INVOLVED IN GREAT COMBINE OF BRITISH CHAIN STORES

Manawatu Times, Volume LIV, Issue 6844, 23 February 1929, Page 9

3500 SHOPS INVOLVED IN GREAT COMBINE OF BRITISH CHAIN STORES

Retailing Dairy Products TO BE LINKED WITH HOME AND COLONIAL £3,000,000 MERGER. Australian Press Association. Received Friday, 7 p.m. .LONDON, Feb. 22.

An important merger is interesting dairy producers. It is announced tbe Home and Colonial stores are increasing their capital to £3,000,000 and purchasing the ordinary preferred and ordinary shares of the Meadows Dairy Company, which has a controlling interest in Pearks Dairies. Several other companies are also associated under the management of Lintons. It is understood the deal represents about £2,833,000. The combine will control 3500 shops throughout the country.

Largest Bank in United States RESOURCES £400,000,000. Australian Press Association. Received Friday, 8 p.m. NEW YORK, Feb. 22. The formation of the largest Bank fn the United States with resources in the neighbourhood of 2,000,000,008 dollars, through the merger of the Guaranty Trust company and the National Bank of Commerce, was virtually completed to-day. The consolidated institution .will now out-rank the National City Bank in resources by 160,000,000 dollars.