Atop a wave of postwar business mergers, two whitecaps stood out last week: J. P. Stevens & Co., Inc., one of the oldest names in the U.S. textile industry, wove a new pattern with nine fabric manufacturers.* The proposed combine would put 28 mills under one management, give the company the industry's biggest capitalization: $75 million. The fabric would be loosely woven, with each company keeping its present management and operating as a division of Stevens. Biggest advantage: common ownership of mills making rayon, cotton and woolen fabrics, as a hedge against...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!