Word: youngstowns
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Died. Leroy A. Manchester, chief counsel (with Newton Diehl Baker) for Youngstown Sheet & Tube Co. in the projected Youngstown-Bethlehem steel merger ; despondent over litigation against the merger (TIME, March 24 et seq.) and the strain of negotiations; by his own hand; at Youngstown, Ohio. Court was declared adjourned until July 8 "for good and sufficient reasons." Declared David G. Jenkins, trial judge: "A valuable piece in the chess game [has been] removed from the board. So far as the law suit is concerned and cold as it may seem to say it, the contest must...
...space of one year he had been Bethlehem's president. Now, of course, he is internationally famed as Bethlehem's genial, talkative chairman. What Mr. Grace, who is now Bethlehem's president, would not tell, was the size of his, Mr. Grace's, salary. In Youngstown, only the day before, a new petition had charged that this salary exceeded $1,000,000 annually, "for which," the petition added, "he renders no adequate service or consideration." Never before had such things been said of the man whom Colyumist Arthur Brisbane immediately characterized as "one of the ablest...
...room of Lawyers Cotton, Franklin, Wright & Gordon at No. 63 Wall Street. There also sat Col. Grayson Mallet-Prevost Murphy, broker, director of Bethlehem Steel Corp., and there, for the moment, reposed the hopes of Cyrus Stephen Eaton, still waging bitter war against the merger of Bethlehem Steel with Youngstown Sheet & Tube...
...based on the extent and nature of stock-buying by promerger forces before the stockholders' meeting (TIME, April 21). More significant than the question of the $1,000,000 salary, this testimony will feature the opening of Mr. Eaton's latest suit to enjoin the merger, in Youngstown, next week...
Died. Elmer T. McCleary, president of the newly organized Republic Steel Corp. (TIME, Dec. 30); after an intestinal operation; at Youngstown, Ohio...