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From page 194 of the Report of the Commissioner of Corporations on the Tobacco Industry (1911 edition):
"Control of the F.R. Penn Tobacco Company dates from 1903, when the Combination purchased, through the American Tobacco Company, two-thirds of the . . . common stock of the reorganized F.R. Penn Tobacco Company, a North Carolina corporation . . . ." http://books.google.com/books?id=waQ...obacco&f=false
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