Word: youngstowns
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Searching last summer for reasons why Youngstown Sheet & Tube Co. should not merge with Bethlehem Steel Corp., Cyrus Stephen Eaton's legal minions dragged Bethlehem's bonus system into public view. Reluctantly Mr. Grace testified that while his salary was a mere $12,000 a year, his 1929 bonus was more than $1,600,000 (TIME, Aug. 11). Last week he regretted more than ever that he had been forced to reveal this, for a group of stock-holders sued to have all bonuses paid since 1911 returned to the company by the eleven executives who received them...
Early one morning last week Judge David G. Jenkins walked into his Mahoning County Court of Common Pleas at Youngstown, Ohio, with a thoughtful frown on his face. Since April he had been studying the famed suit by which Cyrus Stephen Eaton attempted to fulfill his vow that "Youngstown Sheet and Tube will never merge with Bethlehem Steel Corp." (TIME, March...
Through long, hot, exciting summer weeks Judge Jenkins had heard two brilliant panels of lawyers. Upholding Mr. Eaton's cause had been: Luther Day, of Day & Day, Cleveland; Squire, Sanders & Dempsey, Cleveland; Harrington, Deford, Huxley & Smith, Youngstown; Park Chamberlain of Chicago. On the Bethlehem Sheet & Tubeside were...
Newton D. Baker and Howard F. Burns of Baker, Hostetler & Sidlo, Cleveland; Kennedy, Manchester, Ford, Bennett & Powers, Youngstown; Frederick H. Wood and Hoyt A. Moore of Cravath, de Gersdorff, Swaine & Wood, Manhattan. Judge Jenkins had heard his Courtroom reverberate to huge figures in dollars, steel, shares. He had heard the testimony of great steelmasters, of accountants. Few people expected that by last week he would have reached a decision. To the Court Clerk the Judge handed 19 pages of foolscap, written in pencil. To newsmen he gave two similar sheaves which he had carefully copied from the original, fearful...
Bigger Bethlehem? Persistent last week were stories that Bethlehem Steel Corp. will: 1) Acquire a group of steel fabricating companies, chief of which is famed McClintic-Marshall Co. of Pittsburgh; 2) Acquire, if the Youngstown Sheet & Tube merger goes through, Jones & Laughlin Steel Corp., closely held old Pittsburgh independent...