Word: youngstowns
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Last week a train drew into Youngstown. Ohio, bearing upon it two Lords of Bethlehem, come to cry to the citizens of Youngstown, to the shareholders of Youngstown Sheet & Tube. "Let there be merger!" One of the pair was President Eugene Gifford Grace who had conducted all negotiations with Youngstown's Founder-Chairman James A. Campbell. The other was joke-loving, big-chested, big-hearted Chairman Charles M. Schwab, than whom only Henry Ford is a more famed industrialist. Although Youngstown's Campbell publicly advocated the deal, Cyrus Stephen Eaton of Cleveland has furnished fierce opposition (TIME. March...
With victory-confident Mr. Eaton gone, the burden of the defense lay heavily upon Bethlehem. With resounding voice. Mr. Schwab told assembled Youngstowners: "I'm one of the old folks in the steel business. I've been in it fifty years. I believe in doing big things in a "big way. and doing them right. If I had any doubt this merger would not be a good thing for both of us, I wouldn't take it as a gift. My policy is to take a plant and make it grow." Then, in a torrent of emotion...
Thus, each side having finished its case, each side claiming victory, the City of Youngstown awaits April 8 when the stockholders' meeting takes place. But no peaceful quiet marks the interim, for until the hour of the meeting stockholders may revoke the proxies they have given, align with the other side...
Died. James J. Campbell. 62, Pittsburgh steelman; at Pasadena, Calif. His first job: painting cannon balls in front of the Washington arsenal. His last: vice president of Carnegie Steel Co. He was no kin of President James A. Campbell of Youngstown Sheet & Tube...
Obviously, Youngstown is a vital prize in the race for second place. During the week rumors involving almost every steel company were rampant. Most surprising was the report that the $100,000,000 Rockefeller-owned Colorado Fuel & Iron Co. is now being sought by Bethlehem. Only recently Republic was reported after it. On top of all this, U. S. Steel again announced it has $200,000,000 ready for expansion...