In the basement of U. S. industry are bargain counters on which lie many slightly worn companies, awaiting buyers with the cash and skill to restore their earning power. Recently Allis-Chalmers Manufacturing Co. (electric-equipment, heavy machinery, farm equipment) has been revealed as such a buyer. Last fort night it acquired the business of Advance Rumely Corp., unprosperous maker of farm machinery (TIME, April 27). Last week it again went forth to shop. This time it angled (with cash plus stock) for the unprofitable electrical business of American Brown Boveri Electric Corp. Boveri was formed in 1925 to succeed New York Shipbuilding...
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