The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-02-25
INDIANA firm
INCLUDED IN
HUGE MERGER
Four Mammoth Projects to
Involve Billion and a
Half Dollars.
MARION CO. IN DEAL
Gigantic Bank Combination,
Rail and Theater Unions
Near Completion.
MARION CO. IN DEAL
BIZ United Press

By Chttcd PrCSS
NEW YORK, Feb. 25.-A banker
the son of an Italian immigrant; a
railroad official long identified with
the Nations transportation system;
a poor man raised to riches by the
movies, and a young and little
known executive in the motor-car
industry figured in Wall Street re-
ports today as the dominant person
alities in four mergers involving al
most billion and half dollars.
Doubling of the working force OF
the Marion Truck Company, Ma
rion, Ind, is TO follow the merger
of the company with the Brock
way Motor Truck Corporation of
New York, j. w. Stephenson. presi-
dent Of the Marion company. an
nounced today. This will bring the
force to 700.
George Brockway, head of the
New York company, announced the
merger here Friday. The merged
concern has assets exceeding
$9,000,0o0 Brockway is president of
the new organization.
Continue Both Lines
He announces that full lines OF
both the Brockway and Marion
trucks will be continued. The
capacity range is from one to seven
and one-half tons.
Leading the procession in mag
nitude Of projects was A. P. Gian-
mini, who emerged from financial
obscurity to preside over the half
billion dollar Banc Italy corpora
ton.
Apparently cnly final agreement
is awaited before announcement is
made that a new bank has been
formed to rank next to the National
City and Chase National banks in
point of resources.
For weeks, perhaps months,
Giannini has been negotiating with
interests controlling the Man
ufacturers' Trust Company and the
Financial and Industrial Securities
Corporation. The large bank OF
America is included in the deal.
Has Huge Resources
When and if the merger is COM
pleted, the new institution will have
total resources of approximately
00,000000. It's formation will come
as a climax to the career Of Clan
mini, who not so many years age
was working on the docks of Sar
Francisco.
Although Giannini is the directing
genius of the prospective consolida-
ton, the new head of the Bank oi
America probably will be Edward
G. Delafield.
Another leading figure in mergel
news and report is L. F. Loree, who
long has been striving to create q
fifth Eastern railroad trunk line
combining such roads as the Wa
bash, Lehigh and Delaware & Hud-
son.
Rail Deal on Fire
The new development in the pro-
posal was the action of w. F. Dick
son, who controls 100000 shares OF
Wabash common stock. Dickson is
sued call for proxies to be voted
at May meeting.
He did not indicate whether he
would oppose a merger but said he
wanted to be certain the minority
was represented on the board Of di-
rectors.
The rail merger, as Loree planned
it, would have capitalization OF
about $250,0O0,000.
In line with the motion picture
theory of a necessary outlet OF pro-
ductions through company owned
theaters, it was reported that the
William Fox interests are attempt
ing to take over the Stanley Cor
poration of America, which controls
600 theaterS.
No confirmation was forthcoming
but it is known that the Fox policy
is toward nationwide string OF
theaters, in which Fox pictures can
be shown. The new merger would
make a $500 100000 corporation, con-
trolling 600 theaters.