Word: lackawanna
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...Penn- sylvania were deadlocked over the future ownership of the Central New Jersey and the Reading. But the energetic Van Sweringen brothers kept right on acquiring roads; their system lacked entry into Pittsburgh, and rumors became active in Wall Street that the Pittsburgh & W. Virginia, the Lackawanna and other roads might soon be added to the new Nickel Plate...
Several attractive smaller roads, and several not so attractive, are the lure: these include the Norfolk & Western, Central New Jersey, Reading, Lackawanna, Lehigh, Wabash and others. The railroad leaders wish to merge until only four main systems finally remain in this northeastern territory. Naturally, each big road wants to acquire the attractive small roads, and leave the poor small roads for some one else. No one apparently wants the New Haven, so that New England will be mostly left out of the effects of the merger movement. On the other hand, some of the little roads do not apparently want...
Bethlehem Steel may be said to be paying the price of over-rapid expan- sion. After absorbing the Midvale, Cambria and Lackawanna properties, it found that large sums were required to modernize and coordinate them. Meanwhile the steel business has been undergoing a very severe slump during the last few months. U. S. Steel came an even worse crop- per in 1903-4, just after its organization. Bethlehem Steel is just now experiencing a period of the same sort of difficulties, and the company's directors were no doubt wise in resolving to conserve cash at the expense of common...
...capital had risen to $119,724,173 from $87,197,190 a year before. Gross sales in 1923 were $275,213,423, which is more than double the figure of $131,866,111 of 1922. This great expansion is of course mainly due to the merger effected with the Lackawanna, Midvale and Cambria companies...
...notes $24,791,801, real estate $2,941,550, personal property $405,062 and bank balances of $70,287. Mr. Rockefeller's stocks included shares of Standard Oil subsidiaries worth about $3,000,000; also 55,686 shares of St. Paul preferred; 28,517 shares Inspiration Copper; 5,000 Lackawanna Railroad; 39,300 Midvale Steel; 17,300 U. S. Industrial Alcohol; 15,300 Union Pacific; 2,330 Glen Alden Coal; 8,400 New York Central; shares in the Farmers Loan & Trust Co., Guaranty Trust, Hanover National, Mechanics and Metals National, and National City Banks; as well as many minor securities...