Word: youngstowns
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...Youngstown: "What'll you pay us for our property?" said grizzled old James Anson Campbell, founder-president of Youngstown Sheet & Tube Co. to suave, cool-headed Eugene Gifford Grace, president of Bethlehem Steel Corp., one day last February. Thus informally, according to Mr. Grace's testimony last week, was negotiated the Bethlehem-youngstown merger, to prevent which Cyrus Stephen Eaton of Cleveland, big Youngstown stockholder, has had his lawyers at work for 16 weeks in an epochal fight (TIME, March 24 et seq.). Mr. Grace's testimony supplied many another lively item last week. He told...
Another employe bonus was revealed last week: that of Eugene Gilford Grace, president of Bethlehem Steel Corp. Put on the witness stand in the famed, inter minable Eaton-Youngstown suit (TIME, March 24 et seq.), Mr. Grace declared that his salary was $12,000 per year, but that he also received a bonus figured "at a factor of 1½" Mr. Grace's bonus...
Quizzed and scolded by Eaton attorneys, Mr. Campbell was confronted by various discrepancies in statements made by him last April during the hectic and disputed ratification of. the Bethlehem deal by Youngstown stockholders. He finally announced that he "didn't give a damn" what he had said in other depositions, that he "didn't care" what he may have testified to, that he was now trying to tell the truth as he understood it. In April Mr. Campbell had said that on Jan. 2 he told President Eugene Gifford Grace of Bethlehem that Youngstown was free to negotiate...
...Youngstown last week Cyrus Stephen Eaton, large stockholder in Youngstown Sheet & Tube Co., offered $12,000,000 cash for 100,000 shares of Youngstown stock. Though the offer was promptly refused, as Mr. Eaton must have known that it would be, this was an adroit counter- attack on the part of the Eaton forces who have gone into court to prevent consummation of the Youngstown-Bethlehem Steel Corp. merger voted by Youngstown stockholders on April 11. White-haired, 76-year-old James Anson Campbell, Youngstown chairman and leader of the Youngstown pro merger party, had testified that Mr. Eaton...
...main Eaton line of attack last week centered on attempts to show that the Youngstown-Bethlehem merger gave Youngstown stockholders no fair deal and that in urging it Mr. Campbell had been strongly influenced by pro-Bethlehem interests. Eaton attorneys emphasized the fact that Henry G. Dalton, who had sat in with Mr. Campbell in meetings with Mr. Grace, was a director of Bethlehem as well as of Youngstown. It was also brought out that Pickands, Mather & Co., ore firm of which Mr. Dalton is a partner and which was active in the purchase of Youngstown stock proxies voted...