Word: biscuits
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Died. Roy E. Tomlinson, 90, former president (1917-29, 1932-45) and chairman (1929-55) of the National Biscuit Co., who raised a small biscuit-maker to a modern corporate giant (1967 sales: $764 million) that makes everything from crackers to candies, cookies to ice cream cones, and sells them throughout the world; in Glen Ridge...
Understandable Error. The end is nowhere in sight. Last week a European subsidiary of International Telephone and Telegraph floated a $50 million issue. Honeywell was devising final terms for a $30 million offering to be sold later in the month, and National Biscuit Co. also announced a $30 million issue. Underwriters predict that U.S. companies will soon announce plans to sell as much as another $200 million worth. "People have been flabbergasted by the volume," says Zurich Banker Hans...
High society is the tepid wasteland between Old Society and pop culture. Buy an apartment with a spectacular East River view of the National Biscuit Company. Furnish it with Louis XV furniture and a Monet, any Monet--and you're in. Except you are not. In their frantic battle to retain Youth and Style, the beautiful people have discovered pop culture and all its childish play things...
...ranging from Chun King (Reynolds) to Clark Gum (Philip Morris). Now American is beginning to catch up with the trend, which began with the health scares of the late 50s, to ward profitable acquisitions as a hedge against poor cigarette sales prospects. Last May, American took over Sun shine Biscuits, Inc., the nation's second largest biscuit maker, in a $113 million stock swap. Last month it bought 96% control of Chicago's James B. Beam Distilling Co. for some $110 million. Two weeks ago, it agreed to buy 52.66% control of Buckingham Corp., which distributes Cutty Sark...
...scare; last week, for example, P. Lorillard (Kent, Old Gold) bought out San Francisco's Golden Nugget Sweets. They are aware that the oil companies yearn to buy into everything from fertilizers to polypropylene toys, and that the food companies are getting together with the beverage firms. National Biscuit, for example, has decided that things might go better with Coca-Cola; last week officials of the two companies disclosed that they have been informally talking merger...