Word: thyssens
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That may well be within reason, for they have been able to loan money, with profit to themselves, at 2% interest. That was how they could prevent Dillon, Read & Co.* from underwriting all the $60,000,000 bonds of the newly organized German United Steel Works-the consolidation of Thyssen, Phenix, Rheinstal, Deutsch-Luxembourg steel corporations (TIME, July 5). They permitted Dillon, Read to take only one-half of the offering. They took the other half themselves...
They began last week selling bonds of the German United Steel Works, the combination of the Thyssen, the Phoenix, the Rheinstal and the Deutsch-Luxembourg. This grouping ranks in wealth and production only below the U. S. Steel Corp...
...Dillon's agents had integrated the units of the German combination to make them function as a single concern. The refinancing-$60,000,000-he would supply as soon as the reorganization documents were perfected. Two weeks ago these were so near ready that he loaned the Thyssen people $5,000,000 for working capital...
German Steel. Last week the largest trust in Germany was formed (TIME, April 12)- the United Steel Works, combination of the Thyssen, the Phoenix, the Rheinstal and the Deutsch Luxembourg. Dillon, Read & Co. financed the merger with $30,000,000 to $50,000,000. Fritz Thyssen, son of August who was the great German coal and iron magnate, is chairman of the new company, which will have an annual capacity output of 3,700,000 tons of steel, 2,500,000 tons of pig iron, 8,000,000 tons of coke and 30,000,000 of coal...
...Died. August Thyssen, 86, patriarch of Ruhr industrial barons, contemporary of the late Hugo Stinnes and the late Alfred Krupp, self-made amasser of $100,000,000; at his castle, Lindsborg, near Muehlheim...