CORPORATIONS: Slugging Operation

When Financier Leopold Dias Silberstein started to move in on Fairbanks, Morse & Co. in January, President Robert H. Morse Jr. predicted that he would "run into a buzz saw." Last week Silberstein got cut up. The New York Stock Exchange agreed to list 141,890 new shares of Fairbanks, Morse stock, giving the Chicago company the additional shares it needed for a stock trade with Canadian Locomotive Co. (TIME, Feb. 6), which it already controls. Thus President Morse, whose family and management own nearly 350,000 (of 1,228,590) shares of stock in the...

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