Word: schwab
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Dates: during 1930-1939
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Since Bethlehem Steel Corp. was formed in 1904, its spirit has been that of big, voluble Charles Michael Schwab. Unpleasant to Chairman Schwab is the successful way in which Cyrus Stephen Eaton has blocked Bethlehem's attempts to merge with Youngstown Sheet & Tube Co. Unpleasant to Chairman Schwab has been the recent challenge of minority stockholders who decry the bonus plan which in 1929 gave President Eugene Gifford Grace $1,623,000 and that much again to lesser executives. Of this latter unpleasantness, a phase which developed last week must have been particularly unpleasant to Chairman Schwab. To each...
Typical of the attitude of protesting stockholders was a letter sent Mr. Schwab last week by Roy William Hebard of New York, president of R. W. Hebard Co. Inc., engineers: "It is preposterous to claim that any such reward as your company has paid Mr. Grace and others is indispensable to obtaining 'unusual effort and ability.' There is no convincing evidence at hand that Bethlehem Steel is any more efficiently managed than innumerable other companies. Nor is there any evidence that the officials of Bethlehem Steel, including Mr. Grace, possess any greater degree of 'exceptional ability...
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...
Shadow Over Bethlehem. In Bethlehem, Pa. last week all the plant managers and sales managers of Bethlehem Steel Corp. gathered for their annual conference. At the big dinner Chairman Charles Michael Schwab and President Eugene Gifford Grace spoke. Not discussed officially, but the subject of many a private argument, was a $36,000,000 suit the shadow of which lay athwart the Messrs. Schwab & Grace...
...draped in black. The funeral service, conducted by Spnate Chaplain Phillips, was brief, simple (see p. 8).∙ ¶ As custom requires, Vice President Curtis gave a State dinner at the Mayflower Hotel last week for President Hoover. Forty-four other guests attended including Harvey Firestone, Charles Michael Schwab, William Wallace Atterbury, Mrs. Jacob Leander Loose (Kansas City cracker widow). Afterward Vice President Curtis entertained them with a newsreel of a Cabinet meeting and of Will Rogers' cinema Lightnin...