Word: mcclintics
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...offices of Pottstown Iron Co., of which he was a director. Two young engineers working for the Shiffier Bridge Co. came to see him with the idea of getting his backing and setting up in business for them selves. Taller of the two was lanky Howard H. McClintic. Much shorter was Charles D. Marshall. Mr. Mellon heard their case and was silent. Iron and Steel had not yet definitely settled into its corporate departments, the financier reflected. Finally he consented. A company was formed and the new team of McClintic-Marshall entered the business of taking rolled steel from...
Slowly the U. S. industrial picture began to change. In 1901 Andrew Carnegie sold out to Manhattan bankers and United States Steel Corp. came into being. Four years later energetic Charles M. Schwab formed Bethlehem Steel Corp. Steel began to be used widely for buildings. McClintic-Marshall prospered. One of their first orders was from the Marshall Field store. Anxious to please, with much to learn, they shipped the girders by express. Much other business followed. By 1929 McClintic-Marshall was doing a $50,000,000-a-year business, had a 600,000-ton capacity. Its only sizable competitor...
...McClintic-Marshall-U.S. Steel rivalry is the nucleus of last week's deal. Competition between U. S. Steel and Bethlehem has lately become more intense. Steelmen are especially aware that in 1926 U. S. Steel began to manufacture solid flange beams by the so-called Gray Process, which Bethlehem controlled. A $250,000,000 patent suit followed, was settled out of court in 1929, with Bethlehem granting U. S. Steel the right to use the process. This enabled American Bridge to compete better with other fabricators who bought Bethlehem's beams in which the Gray Process was used...
...more than two months wise Pittsburghers have been aware of the imminence of last week's deal. Bethlehem officials have been seen in McClintic-Marshall's offices, lunching with McClintic-Marshall men at the Duquesne Club. Hence when the announcement was made Pittsburgh was ready to judge its significance...
...Bethlehem the deal (accomplished by issuing treasury stock and notes) means an assured outlet for structural steel. It also means that the Mellon interests, now represented on the McClintic-Marshall board by Richard Beatty Mellon, will become relatively big Bethlehem stockholders, as occurred in Pullman when it acquired Standard Steel Car Corp. No small thing is a Mellon connection. Mr. McClintic and Mr. Marshall invested in the Koppers Co., have never missed a Koppers contract. McClintic-Marshall also owns securities in Aluminum Co., gets Aluminum's business. To Pittsburgh, the deal means the passing of another close family corporation...