A Strong Company.
The last formality in the much talked-of merging of the three great steel manufacturing concerns of Illinois was completed without a bitch. Tho new corporation is called the Illinois Steel Company, and constitutes the largest combination of steel interests in America. The capital stock is 25,000,000d01, of which 8,000,000i10l has been paid in. The percentage of valuation of the old plants in the representation in the new company is: North Chicago Rolling Mill Company, 54 per cent.; Joliet Steel Company, 20 per cent.; Union Steel Company, 20 per cent. The business of the company will be managed entirely by an executive committee, chosen by the directors, following Vanderbilt’s idea of vesting the control in the hands of several instead of one man.
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A Strong Company., Evening Star, Issue 7924, 4 June 1889
A Strong Company. Evening Star, Issue 7924, 4 June 1889
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