Mergers

Canadian Banks. With the approval of James Alexander Robb, Minister of Finance, the Canadian Bank of Commerce (deposits $450,000,000) absorbed the Standard Bank of Canada (deposits $75,000,000). The result is the eleventh largest bank in North America.* The hand that shaped the merger belongs to S. H. Logan, general manager of the Canadian Bank of Commerce. There are only 42 duplications of territory in the 811 branches of the two banks.

Toothpaste, Drugs. Kolynos Co. of New Haven, Conn., makes a creamy, cool-tasting toothpaste which is retailed in yellow tubes. Last week, American Home Products Corp. authorized an issue of 65,000 additional shares of stock for the purpose of acquiring Kolynos Co. (capitalized at $1,500,000). Jad's Salts, Tiz, St. Jacobs Oil, Freezone, Hair Groom and many another drugstore commodity is manufactured by American Home Products Corp.

Vans. At French Lick, Ind., the organization of the Allied Van Lines, Inc., was completed. Martin H. Kennelley of Chicago is president; the new firm is a pooling of interests of 153 inter-and-intra-city moving and storage companies.

Typewriters, Ribbons, Carbons. L. C. Smith & Corona Typewriters Inc. purchased control of Miller-Bryant-Pierce Co. of Aurora, Ill. (typewriter ribbons, carbon paper).

Soap. A merger of Colgate & Co. and Palmolive-Peet Co. loomed (see below).

*The ten larger ones are, in order: National City (N. Y.); Chase National (N. Y.); Guaranty Trust (N. Y.); Bank of Montreal (Montreal) ; Royal Bank of Canada (Montreal); Bank of Italy National Trust and Savings Assn. (San Francisco); American Exchange Irving Trust (N. Y.); Bankers Trust (N. Y.); Continental National Bank and Trust Co. (Chicago); National Bank of Commerce (N. Y.).