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...
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