Word: cyrus
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FOLLANSBEE STEEL mill will finally be moved to Gadsden, Ala., after a battle with the townspeople of Follansbee, W. Va. and a last-minute bid by Cleveland Financier Cyrus Eaton (TIME, Sept. 27 et seq.). By a vote of 360,442 to 25,212, Follansbee stockholders have agreed to sell their money-losing company with its $5,000,000 in liabilities for $9.3 million to Manhattan's Frederick Richmond. He, in turn, will sell the mill and inventories to Republic Steel Corp. for the move south, expects to make a fine profit...
...entire community swarmed down on Richmond's neck (TIME, Sept. 27). Then a group of stockholders got an injunction postponing the vote on the deal. Last week, while the stockholders' meeting was recessed, another bee, of bumble proportions, buzzed in. The new arrival: Cleveland Financier Cyrus Eaton, whose interests include the Portsmouth Steel Corp...
...Steel Co. had a consuming corporate desire to merge "Bessie," the second biggest U.S. steel company, with Youngstown Sheet & Tube, the nation's No. 6 steelmaker. Grace first tried to turn the trick in 1930, only to be thwarted in court after a proxy battle with Cleveland Financier Cyrus Eaton, who then controlled 19% of Youngstown stock. This year, at 78, Bethlehem's Chairman Grace announced that Bessie and Youngstown were again planning to merge. Last week the Justice Department, which has been cool to the plan all along (TIME, Sept. 13), flatly said no to Bessie...
Brattle Films Inc., under the management of Cyrus Harvey, Jr. '47 and Bryant Halliday '49, have filed suit in the Middlesex superior court testing the constitutional right of the Massachusetts Commissioner of Safety to ban "Miss Julie" last February. They expect the case to be heard within the next two weeks...
...CYRUS EATON is negotiating with Krupp and Germany's other big steel producers to supply them with iron ore from his enormous Ungava Bay deposits near Quebec's northern coast. German technicians have already surveyed the site, are considering supplying mining equipment and building docks at a deep-water harbor less than 20 miles from...