Word: girdlers
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Dates: during 1930-1939
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Republic Steel made $4,455,000 in 1935 as against a loss of $3,459,000 in 1934. First profit since the present company's formation in 1930, the 1935 earnings emphasized President Tom Girdler's position as steel's man-of-the-year. To refund debts of subsidiaries, President Girdler last week sold $45,000,000 of 4½% bonds maturing...
Bethlehem Steel made $1,895,000 for nine months in 1935, against $139,000 in 1934-Republic Steel produced steel's Man-of-the-Year in Tom Mercer Girdler. who last September absorbed Corrigan. McKinney and Truscon Steel, increased Republic's yearly capacity to 6,000,000 tons. Mr. Girdler got himself a Cleveland steel plant and large ore reserves, but neither of his acquisitions has been making any money and the merger involved a large increase in Republic capitalization. But Republic made $3,264,000 in nine months of 1935 against a 1934 loss...
...Chairman-President Tom Mercer Girdler of Republic Steel drove the last rivet in his long-delayed merger with Corrigan, McKinney (TIME, Sept. 10, 1934). After stockholders of both companies ratified the proposal at simultaneous meetings in Cleveland and Jersey City, N. J., Tom Girdler announced that he and his fellow steelmen were "fairly optimistic" for the first time since...
...mellow as Bethlehem's aging chairman, the other convening steelmen were filled with fear and fight. President William A. Irvin of the U.S. Steel, which controls 40% of total U.S. capacity, grumbled about foreign competition in home markets. President Tom Mercer Girdler of Republic flayed the Wagner Labor Disputes Bill as "the outstanding legislative monkey-wrench which threatens to jam the wheels of recovery. . . . The one & only purpose behind it is to clamp the yoke of the closed shop upon free American citizens...
...Wall, Kuhn, Loeb elected to stay in the securities trade, abandoning its deposits. Traditionally railroad bankers, Kuhn, Loeb has lately widened its industrial friendships, particularly in the steel industry. Inland Steel and Youngstown Sheet & Tube have long been clients, and last year the firm assisted President Tom Mercer Girdler with his Republic Steel merger plans. Last week Kuhn, Loeb was preparing to market $50,000,000 of bonds for Ernest Tener Weir's National Steel-a big industrial issue even in Kuhn, Loeb's long records...