Word: youngstowns
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...Republic Steel Corp. out of a group of "little fellows." Last fortnight he set out after Gulf States Steel, seemed thwarted. Then, on the eve of last week's scrimmage, acquisition of Gulf by Republic seemed assured. With this success behind him, he devoted himself to preventing the Bethlehem-Youngstown deal, probably in order that he might later acquire Youngstown for Inland...
...Bethlehem v. Eaton over Youngstown combat first began in a long conference, attended by the three chiefs and their seconds. Apparently Mr. Eaton convinced them that his was no feeble gesture, for at the end of eight and a half hours he came out grinning while Mr. Grace and Mr. Campbell clambered down 20 floors of fire-escape to avoid newsgatherers...
Although the directors of both Bethlehem and Youngstown proceeded to approve the deal, 66% of Youngstown stockholders must agree to it. To prevent this, Mr. Eaton traveled from Cleveland to Youngstown. rented a room in a hotel, announced: "We are prepared to wage one of the greatest battles for proxies in the history of the State. Youngstown Sheet & Tube will never merge with Bethlehem Steel Corp...
...shares outstanding, sufficient to block the deal. To get others, he has the legal resources of Squires. Sanders & Dempsey. potent Cleveland law firm. He has also many a convincing argument. Chief of the latter is based upon the pride of the city of Youngstown in Sheet & Tube, widely held in the community. Another argument is that the price offered is not high enough. Another point, that the deal would be demoralizing to the steel industry, is probably based on the belief that a union with Bethlehem would bring Youngstown into the battle now being waged in other sections by Bethlehem...
...Youngstown...