Word: stettinius
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...skids, this added up to a pressing need for cash. Three months ago U. S. Steel borrowed $50,000,000 from Pittsburgh, Chicago and Manhattan banks. Last week, to retire the loans and get the money for 1938's construction, Myron Taylor's successor, young Edward R. Stettinius Jr., announced his first big financial operation: flotation of $100,000,000 in ten-year debentures, to take place next month under the wing of Morgan Stanley...
...total assets. Last week in the august atmosphere of its headquarters at No. 71 Broadway, Manhattan, another move was made in the grand administration plans which Chairman Taylor hopes to complete before he turns the company over to Chairman-elect Edward Reilly Stettinius Jr. next April. A new subsidiary, U. S. Steel Corp, of Delaware, was created solely as a management corporation. After the turn of the year, this corporation will be governed by a board of executives representing all phases of management in the operating units and headed by 47-year-old Benjamin Franklin Fairless, president-elect...
...Business, however, there was encouragement in the rumor at week's end that he planned soon to announce plans for starting a nationwide housing program financed by private capital and that the plans would include naming an outstanding capitalist, someone like U. S. Steel's Edward Stettinius Jr. or General Electric's Gerard Swope, to head the drive...
...Stettinius has just turned 37, has a big backlog of executive training. Son and namesake of the original Edward Reilly Stettinius, Morgan partner and U. S. director of Allied Munitions' purchases during the War, "Little Stet" craved a career of his own. Already grey-haired and sober as an undergraduate, he was well liked at the University of Virginia. Starting out at the bottom in Hyatt Bearings Division of General Motors, he rose with meteoric rapidity through industrial and public relations to a vice-presidency. During the heyday of NRA he was one of Hugh Johnson's aides...
...Steel, left that post to become president of Myron Taylor's Amalgamated Carnegie-Illinois Steel Corp. in 1935. Following him in this berth will be 56-year-old J. L. Perry, now president of Tennessee Coal, Iron & Railroad Co., Big Steel's principal southern subsidiary. Following Ed Stettinius as chairman of Big Steel's finance committee will be 45-year-old Enders M. Voorhees, now vice-chairman...