Business & Finance: Transamerica Unscrambled

For many a month Wall Street has known that "Something has to be done about Transamerica." Last week the big holding company's 217,000 shareholders received a lengthy letter from their bustling chairman, Elisha Walker. It told what will be done about Transamerica.

No More Banks. It was Founder Amadeo Peter Giannini's idea that Transamerica should take the lead in nation-wide branchbanking. Last year the annual report said hopefully: "It is now generally conceded that the trend of public opinion is increasingly favorable to the extension of branchbanking." But Mr. Walker's letter of last week...

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