Fereral Steel Company The Inter Ocean 22 Nov 1889

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Fereral Steel Company
The Inter Ocean
22 Nov 1889 - U or por-Ooa . o .10 .4 .M .41 .04 .fti J1 M...
U or por-Ooa . o .10 .4 .M .41 .04 .fti J1 M .14 .13 .64 M r .oa .si .0 .S4 .14 .OJ .01 .OS .Ol .03 .04 .0 .01 .03 .04 .04 .US .43 as t .34 .OS .11 .11 JOl the the and the FEDEEAL STEEL COMPANY. Ttio Huge Corporation Reported as . Fully Organized, at . Cleveland. All tne Country's wire Manu lacturing Plants Practically Combined. Five-year Contract Perfected lor Wire Rods and Steel Billets. MILLIONS IN IT. Clxtxlasd. Ohio, Nor. 2L Tho Federal Steel Company, the griganbe corporation formed for the purpose of combining all the wire, wire- ail, and barbed wire manufacturing plant oz tb country, and controlling tne tore great industries, ha been formally organized. and th director and stockholders ar s now in lon in this city closing the contract with producer of raw material and accepting the options held upon the stock of the companies which will form part of the consolidation. Th meeting ar being held at theWeddell. Among the gentlemen present are John W. Gates, of the St LonU Wire Compear. St Louis; T. Mo-Cosh, of tha McCosh Iron and Steel Com pan v. Burlington, Iowa; Joel Sharp, of the Salem Wlr Kail Company, Salem, Ohio; James Larmon. of the Cincinnati Barb Wire Fence Company, Cincinnati; John F. Haxen. of the Cincinnati Wire Kail Company, Cincinnati; E. Boffiingtoo, of the American Wire Kail Company. Covington. Ky, and Anderson, Ind. ; A. B. Whitney, of the Brooklyn Wire Nail Company, Brooklyn. K. X : George T. Oliver, of tho Oiirer A Bobert Wire Company, Pitts burg: W. Douglas, of the Iowa Barb Wire Com pany. Altoona. Pa. and Nw Tork: CL B. Beach and 8. H, ChUbolm. of the B. P. Nail Com pany. Cleveland; s. & rage, or tne uieveiana Boiling Mill Company, Cleveland, and Thomas JopUng and William Arkless, of tho American. Wire Company, Cleveland. It is understood that during the ' morning ion a ; five-rear contract was mad with the ClsreUnd Boiling Mill Com pany to furnish th Federal Steel Com. pany with steel billet and wire rods. The barbed fence business of the ClsreUnd Boiling Mill Company, uoder the contract, will be suspended, and that department of the oom-pany'a large -plant closed. It " lm also said that the 3rbtion of th" American Wire Company was practically completed. The American Wire Company ia a closs corporation, the stock being held, as far aa known, by Cy A. Otis. Thomas Jopling. E. & Thomas, W. T. Wellman, Samuel Andrews, William Arkless, and J. K. Bole, of thia city. All of th shareholders, h ft l id, faror tb eonsolidation project, and bar exchanged their holding for atock in the Federal Steel Company, through . trustee - appointed for that purpose. The plant of - the wire works. it U said, was rained at $600,000. and the good wUI . . at $200,000, so that tho wire company will be represented by $S0O,OOO worth of stock in the consolidated corporation. The owner of th U. p. Aaii work were not so unanimous in regard to en tering tb new company, but later on agreea to do so. Another meeting will be held to-morrow, and if time in found the officers of the new company mav be chosen, it im generally conceded that Mr. J. W. Gate, of St - Louis, will be elected President, and Mr. George 11 Oliver, of Pittsburg, Vice President The directors said to night that the other officer had not been de cided upon as yet . r Ther are a number of concerns which bare not yet been induced to enter the fold, uner reason for holding aloof im that the'offers made them will sir them only an insignificant position in the combination. They feel that they mar be forced to suspend operation temporarily. at least, - for lack of raw material, tne mue rod mills of America being eitoer consouasiea with the nail and fane manuraorurers in the combination or being und-r ooctret to furnish tun federal Steel Comosnr their entire pro J act Tber say that already the new concern has such a hold tnat tne rou muis wiu taae bo unw be filled after Jan. L ' '- A no as at is 3

Clipped from
  1. The Inter Ocean,
  2. 22 Nov 1889, Fri,
  3. Page 6

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  • Fereral Steel Company The Inter Ocean 22 Nov 1889

    tomjopling – 26 Jun 2013

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