Word: youngstowns
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Iron & steel giants of the U. S. groped towards mergers last week. Directors of the Trumbull Steel Co. and the Republic Iron & Steel Co. decided to consolidate; and Youngstown Sheet & Tube Co. sold $75,000,000 of bonds through Kuhn, Loeb & Co. That was the biggest piece of industrial financing of the year...
...Youngstown Sheet & Tube Co.'s sale of $75,000,000 of bonds through Kuhn, Loeb & Co., again brought that investment house into close touch with the larger U. S. iron & steel companies. Five years ago they tried to accomplish a merger of these six concerns...
...Youngstown Sheet & Tube...
...promotion work failed. Charles Michael Schwab's Bethlehem Steel Corp. absorbed first Lackawanna Steel, then Midvale Steel; Youngstown Sheet & Tube absorbed Steel & Tube of America. Republic Iron & Steel and Inland Steel remained solitary, until last week. Out of the $75,000,000 Youngstown Sheet & Tube borrowed on its bonds last week, it will pay off some $64,000,000 of debts and have more than $10,000,000 to use in whatever merger plans it may fancy. So far its officials admit none...
...Youngstown Sheet & Tube...