The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-11-14

and Retail
Firms Unite
M. 4. Smith K Co. Becomes
Owner of All Common
Stock in Burgess
Nash Go.
F Fmanciers Join in Deal

One Of the most important mer
camille transactions In Omaha in re
cent years, by which NJ. II. Smith q
Co. becomes the owner Of all the
common stock OF the Burgess. Nash
company, became public yesterday.
Announcement OF the deal was
made by Ward NJ. Burgess, president
OF NJ. II. Smith & Co, wholesale dry.
goods and manufacturers OF mems
and womens' wear
l.. g. Nash, who has been identi.
fled with both companies. retires from
both concerns Several men OF
financial means have Joined with Mr..
Burgess II the ownership Of the two
firms. making one Of the strongest
commercial concerns IN this part Of
the country.
Mr.. Burgess statement follows:
"Messrs. s. A. Megeath OF New
York city, Frank IT, Woods, Mark
w. Woods and George J. Woods Of
Lincoln, Neb, and the American
Stocks and Bonds, Ltd, have Joined
with me N purchasing the common
stock Of NJ E. Smith & Co., and
Burgess. Nash 60. A. G. Smith still
Will bs associated with the business
In his present capacity as chairman
Of the board.
Has Large Oh Interests.
"Mr. Megeath, formerly associated
with interests allied with the Standard
OH Co, IL connected with large oil
interests In New York city, and is
n brother OF G. w. Megeath Of
Omaha The Woods brothers are
favorably known 10 Nebraska people
and control large interests IN the
state. including Woods Bros. sllo
Manufacturing Co., and many bank
and mercantile properties. Mark
Woods IN director Of the Central
Trust Co. Of Illinois. In addition to
being president OF the silo company.
Frank Woods IL president OF the Lin
coin Telephone & Telegraph Co. and
a director IN the First National bank
Of Lincoln. George Woods is presi.
dent OF the Woods. .Updike Land com
pany ana director In several Ne
braska corporations
This unusually strong board OF d.
rectors will direct the policy of the
two concerns, which have been such
a factor In Nebraska's mercantile
life. There will be no immediate
change In the management of either
business, with the exception that an
successful department store
operator who Is coming to Omaha
from the east will assume the man.
agement OF the Burgess.Nash conf
pany, due to the retirement OF j.. c.
Nash. A further announcement VIII
be made in few days"
Pioneer Institution.
M. T.. Smith & Co. Is one OF
the pioneer wholesale institutions Of
The central west The business was
in 1868, and has steadily
md consistently grown each year. The
now occupies twin buildings.
each eight stories and basement In
height, as well as nine-story fac.
tory building, all located at Ninth,
Douglas, Farnam and Tenth streets.
The company travels approximately
90 salesmen, who visit every part OF
he United States with its jobbing and
lines.
The Burgess Nash company oper.
,tes one Of the finest and most mod
srn department stores in the central
vest. The concern is but seven years
I'D. but in that time IL has jumped
rom an obscure business to Its pres
mt commanding position, recently |
a handsome new addition
o the old buildings which practically ,
doubled its floor space.
Outlook Bright.
II os pointed out that the new ar
angement whereby NJ. +. Smith
/ Co. becomes owners OF the Bur
,ess- Nash company, makes the con-
,ern very much akin to Marshall
field & Co. OF Chicago, which
,perates both wholesale and retail
and has made a tire
nendous growth.
'"rhe future outlook is exceptionally
right" said Mr.. burgess. "our Or
Iers for spring delivery, in the whole
ale house. are greatly in excess OF
ast year. all inventory losses have
cen taken care of. and we were never
n better position 10 so after business
nor. aggressively- which Is exactly
hat we are going to do.
so far a. the retail store 10 con
erned. il also is IN splendid condition