St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1922-04-29

Companies on Basis of Stock Ex-
change-Nash to Head Joint En-
terprise-Move Has an Important
Bearing in Motor World.
Merger of the Pierce-ArroW Motor
Car Company on the Lafayette Motors
Company was determined upon at a
meeting Of directors of both COM
panies in New York, Thursday, April
18th. At result of the change q
new company is to be formed into
which the two concerns will be con-
solidated. With the completion OF
the operation Charles W. Nash, head
Of the Nash Motors Co. and pres:-
dent o. Lafayette Motors, will be-
come chairman of the board in COM
plete charge of the joint operating
forces. Thus the Nash group, the
potential strength Of which the in
dustry has always been disposed to
view with a great deal of respect, is
quickly to assume considerable add
ed Importance. ,~
So far as the plan has thus far
been worked out, it calls for the ad-
ministration of both concerns under
the leadership of Col Charles Cliff
ton, chairman of the Pierce-Arrow,
during the transition period. Stock
holders will be advised of the pro-
this involving an exchange of stock
IN the separate companies for Sc
curitie5 of the new. No securities
are to be offered publicly in connec-
ton with the organization OF ths
enterprise VIII oh was not named at
the time OF the announcement.
Preliminary details were arranged
at the offices OF ]. & W. Seiigman {
CO., following negotiations lastins-
over quite a period, as far as the
Pierce-ArroW interests Wer concern
ed For som days there had beer.
banking associates Of the Buffalo
company were in process Of effect
ing new disposal Of it's affairs.
The favor with which the property
was being viey by Nash and his as
sociates however, has been closely
guarded, and stories concerning it
had been discounted. To the trade
ct large, therefore, the news carries
a considerable element of surprise.
Viewed from the idustry's stand
point, the plan involves the combi-
nation Of an old and honored name
yith manufacturing ability Of high
order, in conjunction with strong
business associations. Pierce-Arrow
cars have occupied place of pride
in the roster of the industry, since
the very earliest days, when George
n. Pierce, bicycle manufacturer, be-
gan the production of "a car pattern
cd afte, the DeDion voiturette, then
one Of the most famous and success
full cars in the world. The first OF
the line was sold in 1901.
Conservative management, good
design and meticulous care In manu-
facture became infexible policies
from the start, with the result that
cars bearing the name have COM
mandei a clientele among the most
popular buyers and have borne the
reputation of giving irreproachable
service. Taking the lead in intro
ducing the worm-drive for trucks:
the commercial vehicles of the
Pierce-Arrow line have likewise
borne a spendid reputation.
Building practically all its COM
ponent parts, even including wheels,
up to within couple Of years, the
plant at Buffalo grew until it became
one of the most complete and best
equipped. DISCRIMINATION or rou-
tine, as "a result of the war, however,
produced changes of management
and policy, as well as added financial
requirements. Plans were laid to
popularize the line and enlarge pro-
duction, but these brought fruit at
the time of a declining market
Thus a point was reached Whera
stockho1ding and banking interests
were ready to consider a complete