Word: soci
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...Toronto-Dominion Bank to create the Midland and International Banks Ltd. (capital: $56 million). Three months ago, Britain's Barclays Bank, the Bank of America, Italy's Banca del Lavoro, Germany's Dresdner Bank, Algemene Bank of The Netherlands and Banque Nationale de Paris formed Société Financière Européenne (capital: $7,800,000), with head offices in Paris and Luxembourg...
...wheels spun for more than a year, and at last His Serene Highness Prince Rainier, 43, came up a winner. Monaco's Supreme Court decided that the Prince's government was perfectly within its rights when it issued itself 600,000 new shares of stock in the Société des Bains de Mer, thus guaranteeing control of the outfit that runs the famed Monte Carlo Casino and 33% of the principality's real estate. The big loser: Greek Shipping Magnate Aristotle Onassis, 60, who hitherto controlled the Société with 500,000 shares...
...days ago, faced with a possible halt in production of the copper and cobalt that account for 50% of his country's revenues, Mobutu swallowed his slogans, signed an agreement for continued operation of the mines with Sociètè Gènèrale des Minèrals (called S.G.M.), a Union Minière affiliate. "This is not a betrayal," he avowed on TV last week. Nevertheless, Congolese students drummed up discontent, and one leading businessman wired Mobutu: "We have undressed Peter to dress Paul...
...stay on the job, and the company is asking its managers to cooperate for the time being in running the mines. If nothing else, Union Minière is anxious not to drive Mobutu into nationalizing other extensive enterprises in the Congo owned by its parent company in Belgium, Société Générate de Belgique. Mobutu, who made no provisions for compensating the thousands of European stockholders in Union Minière, is demanding an additional $150 million from Union Minière as money he claims the Congo has been cheated...
...even more striking effect of the merger is that it will link la Générale with another Belgian giant: the Solvay chemical empire, one of the world's biggest family-owned firms. Solvay has long held a controlling interest in the Société Belge de Banque; but the bank's limited deposits of $175 million have proved increasingly inadequate for Solvay's growing needs. Solvay can now tap the vast resources of the banks with which it is merging, and la Générale will strengthen its connection with...