The Birmingham age-herald., 1923-07-06
B|G STORES IN .SOUTHPLAN ID
 UNITE FORCES
Loveman, Joseph & Loeb ot Birmingham Included In Consolidation Involving Sev- eraI Large Firms
MANAGEMENT, HOWEVER, .s, :, REMAIN UNCHANGED
ss0rmaI Statement Points Out
 Advantages Of Combination
 In Buying And in General Efficiency To Be Achieved

In response to the many rumors recently current about a change in ownership of the Loveman, Joseph X Loeb department store of Birming- ham, members of the firm Thursday made a formal statement on the sub ject, in which 1t was pointed out that a consolidation of several department stores in the south was in contem- plation and that Loveman, Joseph & Loeb was slated to be in this con- sohdation.
 The statement mentions but three stores involved, the Maison Blanche company of New Orleans, B. Lowen- stein & Brother, Inc, of Memphis and the Birmingham store. Rumor, how ever, has had others figuring in the consolidation including department stories in Baltimore, St. Louis and one in New York. It is understood that the consolidation plans have been worked out but that the proposal must be passed upon formally by the stockholders of the concerns 1n- Volved. Officials of the Birmingham store in their statement Thursday stressed that formal announcement of any definite change made would be published as soon as consummated. Day Of Concentration.
 The firms involved feel that great possibilities will be developed by the consolidation of interests. In this connection the statement issued Thursday says: Tt is recognized that in this, the day of concentration of efforts and amalgamation of in terests, the general public is entitled to receive the benefits of such efforts which have been recognized by the modern business man to result in untold benefit in the way of saving in costs, reduction in expense, T power, necessarily resulting in more efficient service to the public with the opportunity of purchasing mer- chandise at a less cost. The plan : will not affect in any manner the identity of the three stores; each will each will continue under its present officers vested with the same author ity heretofore possessed"
 O O O
 Details Not known.
 The details of the consolidation plans are not yet known. Loveman, Joseph X Loeb has quite an extensive list of stockholders both in Birming- ham and New York. The three larg- est groups are those represented by the estate of the late A. B. Loveman. the Joseph interests and the Loeb group. In addition there are under stood to be several stockholders with considerable holdings who are not ac- lively identified with the manage ment of the business. As some of the other stores which are to enter the consolidation are understood to be similarly situated the task of draw ing up plan satisfactory to all in terests is said to have been one re- quiring much patience and skill and has necessarily made the negotiations slow. It is known, however, that numerous visits have been made to Birmingham in recent weeks by rep resentatives of the various stores in volved and that officers of the Bir- mingham store have also made nu- merous trips to other cities for con- sultations and investigations of the proposals under way. The fact that definite announcement of the nego- tiations was made Thursday, how ever, is taken to indicate that the matter has proceeded to the point where it's consummation is proba bly, assured