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Mond Merger with International Involves $100,000,000

January 7, 1929
See Original Daily Bulletin From This Date

A further chapter in the question of the future of the Mond Nickel Company, which was a sensational feature of the markets a few weeks ago, is provided by a report in the press here today, that the directors of the International Nickel Company of Canada Ltd., have made an offer for the control of the Mond Nickel Company, another British concern which owns practically all the nickel not controlled by the International Company. At the current price of Mond Nickel and International Nickel shares, the merger represents a market valuation of £100,000,000.

A few weeks ago, International Nickel of New Jersey was amalgamated with the Canadian company, and with the absorption of the Mond organization the world’s nickel output will be practically under British control.

The deal is contingent on its acceptance by 75 per cent of the Mond shareholders. If accepted, seven places on the present board of twenty-five members will be allotted to the Mond Company. Control will be kept with the present Canadian interests.

The Administrative Committee of the American Jewish Congress has announced the appointment of Isidore Beierfeld of Philadelphia, as the Secretary for Organization. Mr. Beierfeld will take charge of the new work of (###)ming Congress committees in different communities of the country, and of making preparations for the election of delegates to the session which will be held beginning March 31.Mr. Beierfeld is a member of the Pennsylvania and Maryland Bars and has been in social work for a number of years. Mr. Beierfeld, who is a graduate of the University of Maryland and Johns Hopkins University, was a member of the Maryland Legislature for 1922. He was for a time field representative for the Jewish Welfare Board.

The first three cities which have taken steps to arrange for the election of delegates to the American Jewish Congress which is to meet again on March 31, are Philadelphia, Camden and Newark.

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