Evening star., 1925-11-01

IN BAKERY MERGER
Federal Trade Commission
ers Hold Ward Offer to Buy
Stock Personal Matter.
By the Assnciated Pres

!
investigations by The Federal Trade
! Commissions hes disclosed no basis
! for action at this time in connection
with = reported s4a0, 900, 900 merger of
. the Genera! baking Company. Ward
Baking Corp pr2tion, Continental Bak =
ing Corporation and possibly the
Southern Baking Company.
I Upon The advice Of II. +. Hudson,
is chief examiner who conducted the
iEvestiga tioa after press accounts
had mentioned that such Il merger
! was contemplated. the commission,
however. is holding the matter open
Ior any further Developments
( In his report, submitted October 10,
the examiner stated that 1T appears
The newSoUptr reports were not well
founded.
so Ia" 'he only thing that has
transpire,..' the report said has
been an Offer by an individual. Mr.
William y. Ward COZ the Ward Bak-
lAs toTpor3uoAl. 10 purchase cap
ital stock OF the General Baking
Company, ana the orga MIA zion of a
company To take over that stock in
event the deal is cons unna ted which
Seems quite probable according to
present inGicIti lions. Nj. Ward, the
prime mover. E;is stated thaL this new
company is to act as q holding COM
| panF, but 50 far nothing has been
done toward acquiring the stock of
any other company or in any way
bringing any. other company under
its control
Further Consolidation Likely.
Decision by the commission to hold
| the question open is understood to
have been due in part To statement
/ by Mr.. Ward 10 the examiner that
| at this time. it was not possible to
say what might take place in the
future, lie added, the report con-
ttnued, that no attempt would be
made to acquire the capital stock of
any other company" but that any
other acquisition would be BY the
purchase of assets"
The commissions action follows
recent decision 10 hold open the Ques-
| ton OF methods used by the Cont
mental Baking Corporation alone. in
! the acquisition of stock OF small bak-
| ing companies. In that case COM
! plant was issued against the cor
poration charging violation OF the
Clayton act by efforts TO suppress
competition, but in pursuing the case
tae commission said 1t had found no
evidence counter to the declarations
OF officers of the corporation that il
peting companies and had at all times
observed scrupulously the provisions
OF the Clayton act.
Ward Offer Personal"
The report made public yesterday
declared that officials Of the Cont
mental corporation, as well as Mr..
Ward. denied in categorical lam
gvaSe" that control OF either the Con-
tinental or the Ward companies has
been acquired, nor has any move been
made to acquire them by the General
Baking Corporation.
Officials OF the Southern Baking Co.
also stated. the report said, that no
negotiations have been made or are
being made by that company with re-
spect to any merger with any cor
poration or company.
Mr.. Ward" the examiner reported,
las an individual, made an offer to
individuals holding majority OF the
stock OF the General Baking Co,
which has been accepted to purchase
its common stock for s225 a share"
This, however. did not involve the
company las a corporation"
1T is simply an ind; vidual trans
: action between Mr.. Ward and indi-
! vidual stockholders of the company"
| the report declared. adding that Mr.
ward, with the approval Of the stock
| holders owning a majority Of the
| capital stock of the General Baking
! Co. is permitted to use the name Gen
! erai Baking Corporation which is to
| be the name of the new company"