ITT Advances Hartford Merge Amid Antitrust Challenge
ITT moved forward on its Hartford Fire acquisition despite a DOJ antitrust challenge. The yearlong deal carries unsettled issues including a IRS ruling reversal on a tax free exchange and a potential $35 million capital gains bill for about 17,000 former Hartford shareholders. ITT to sue if IRS decision wins out. American Express agreed to buy ITT's 52 percent of Avis for $120 million, pending approval.
MENTIONED IN THIS ARTICLE
New York
International Telephone & Telegraph Corp
U.S
Hartford Fire Insurance Co
Department of Justice
ITT
Hartford
American Express Co
Avis, Inc
Avis
Justice Department
Internal Revenue Service
IRS
Robert Boehm
Securities and Exchange Commission
SEC
Merrill Lynch
Pierce, Fenner & Smith, Inc
Scientific Controls Corp
Dallas
Furniture Seminars Highlight Professional Marketing Shift
Some 100 wholesale furniture salesmen from the Southeast attended a full day seminar at the Top of the Mart where Frank Northcutt urged continuous personal development to meet industry upheaval. He defined professional marketing as using research and forecasting and guiding retailers to boost on floor inventory productivity for sustained livelihood.
MENTIONED IN THIS ARTICLE
Southeast
Frank Northcutt
National
International
Northcutt
Gateway Bank draws North Carolina record capitalization
Gateway Bank in Greensboro has sold over 1,200 stock subscriptions totaling more than 3 million dollars. An additional 4 million dollars in pre incorporation stock is offered with a March 20 deadline tied to the Banking Commission hearing on Gateway’s application to operate in North Carolina. The sales to date mark the bank as the state’s largest initial capitalization for a new commercial bank.
MENTIONED IN THIS ARTICLE
Greensboro
Gateway Bank
Norman Block
N.C. State Banking Commission
Gateway
North Carolina
Richmond Banks Report Strong Fifth District Loans
A Federal Reserve Bank of Richmond survey shows gross loans for 27 large Fifth District banks rose by 144.7 million to 15.281 billion in the week ending March 6. Domestic commercial loan demand led gains while consumer installment loans fell. deposits and investments also increased with mixed shifts in interbank and nonfinancial loans.
MENTIONED IN THIS ARTICLE
Richmond
Federal Reserve Bank of Richmond
Federal Reserve District
District of Columbia
Maryland
Virginia
North Carolina
South Carolina
West Virginia
Trade Winds Food Hikes Hit Business in 1974 Outlook
Agriculture Secretary Earl Butz predicts food prices will rise less than in 1973, about 12 percent, on top of last year's 14.5 percent inflation. Analysts caution that a record crop is not guaranteed amid drought, fertilizer shortages, and surging costs. Consumers face reduced spending and potential austerity, while railroads emerge as a growth-area topic amid a Transportation Act push.
MENTIONED IN THIS ARTICLE
Agriculture
Earl Butz
Butz
Great Plains
Nixon
Also Mentioned on This Page
Stephen H. Miller
AP Business News
Associated Press
Lance Inc
Semission, Leggeth & Plast Ac
Liberty Bank & Trust Aerotron
Va Lue Assurance of Care
Little
Gian Am
Atlanta Gas Light
Lille
We Atlantic
Pepsi Cola
Lowe's Companies
N.C
fAack
GM Am Bankers Trust
Multimedia
Bassett Furniture
Ncna Corp
Ste Beaman Corp
NC Natural Gas
Northwest Fin Corp
Bank & Trust
Brenner Inds
Occidental Life Ns
Burkyarns
Akwood Homes
Tia Burlington
Bk&Tr
Orite
Burnup & Sims
Burks Inds
Peoples Bank of Rocky Mt
I MC Finance
Caroling Steel
Rex Plastics
Carolina Wise
Roberts Co
Cato Corp
Royal Scotsman
Central Carp
Safeguard Auto AM
Central Vermont
Salem Carpet
Champion Parts Reds
Solomon Ve
Pines
Security
Bk&Tr. Charter Co
Security Finance Corp
Chatham Mig
Shoneys
Big Boy
C&5 Corp
S.C
Songce
Gastonia
S.C. National Corp
Coca-Cola Co. Consola Ae
Southern Nat Corp
Colonial Life Ci
Ar Omm. Bank Greensboro
Spartan Food Systems
Conner Homes Ab
South Mort
Wisngle Brick
Ava Fidelity Corp
Uniti Inc
Cytie Fmic Corp
United Care
Bancshares
Catawba First Cit Bank& Trust
Irglla International
Franklin Life Uns
Walker Shoe
Harrelson Rubber West Knitting
Washington Group
Hellig Meyers
White Shield Co
Ove Henredon Furniture
Wix
Hickory Furniture
Si Wright
Hoover Co
Machinery
DOW Jones
Tripoli
DON Gilstrap, Inc
High Point Tal
By Ray Hubbari
Gracie Lank
Behrends & Henderson Advertising
Mrs. Lank
Gaston, Ind
Purdue University
Balt
Ball Stores
Muncie
Ind
Leeb’s Inc
Lafayette
Lauries
Doyal
Suffolk Drive
High Point
The
National Assn. of Accountants
Holiday Inn Four Seasons
Greensboro Ncr
Stanley R. Becker
Thomas C. Langley
T.C. Langley
Sousweatern Company
Nashville
Tenn
East Carolina University
the Key Co
Mayflower
Granville
Hamilton St
Fred P. Newby
Steve Foster
Craig Newby
MGR
Wilbur M. Currie, Cla
Robert McCliston
Etu
Integon Life Insurance Corporation
of Intagon Life Insurance Corporation
International Association of Life Insurance Agents
S. Hamilton St
Fred G. Culler
North Elm& Westwood Tal
Campe
Jame
Bloomington
Randy
Yar
W. Green
Tel
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