Quote:
Originally Posted by tedzan
The F. R. Penn Tobacco Co. was purchased by ATC in 1911.
TED Z
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ATC purchased F.R. Penn in 1903.
If I'm understanding the timeline correctly the former F.R. Penn Tobacco Company was replaced by the newly incorporated F.R. Penn Tobacco Company in September 1903. The purpose of this reincorporation was to partner with The American Tobacco Company and have them be the majority shareholder. The F.R. Penn Tobacco Company continued to be run as a separate company from the trust and ATC attempted to keep their controlling interest a secret. In 1911 when the trust was broken into several companies F.R. Penn was taken over by the new smaller American Tobacco Company.
There are board members that know a lot more about this subject than I do and maybe they'll have something to add or correct anything I missed.