Business: Pan Am's Buy

Merger with National nearer

Pan American World Airways took another step last week toward achieving its long cherished dream of acquiring U.S. domestic routes to tie in with its far-flung foreign network. It disclosed that after a stock-buying spree early last week, it now owns 4,398,500 shares, or 51.4%, of National Airlines, thus beating out two rivals for majority interest in the line. Texas International, a small, aggressive carrier that, like Pan Am, has received preliminary approval to merge with National from the Civil Aeronautics Board, holds about 25% of the stock. Eastern Air Lines has also been trying to...

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