Business: No Ward & Roebuck

One of Wall Street's oldest rumors was laid to rest last week. Chief mourners were stockholders of Montgomery Ward & Co. Talk that this Morgan-sponsored mail order house would merge with successful Sears, Roebuck was almost as old as the bull market. Negotiations were known to be in progress again this summer when it was said Sears offered one share for each three shares of Montgomery Ward. The Morgan company apparently asked one for two.

Montgomery Ward finally declined to listen to terms of one share of Sears for each two and a half...

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