Word: youngstown
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Dates: during 1920-1929
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...from a merger of 24 small steel companies, chiefly in Ohio and Indiana, the company last year went through a rapid expansion program which included acquisition of Trumbull Steel Co. and Steel & Tubes, Inc. There were also continuous but as yet unfulfilled rumors of a merger with Youngstown Sheet & Tube Co., in which Mr. Eaton is also interested. Republic Iron & Steel showed a net of $4,642,000 in 1928 and a net of $8,667,530 for the first nine months...
...Republic-Youngstown amalgamation, which has on several occasions appeared all but ratified, may yet be arranged, and Chicago's Inland Steel Company, in which Mr. Eaton is heavily interested, is also a potential member of the combination. The Republic group at present lacks a rail-making member-a gap which Inland would fill. Present ranking of the leading steel companies...
...Youngstown...
Addition of Youngstown and Inland to the Republic Co. would give the Eaton consolidation an ingot capacity of about 10,000,000 tons...
Perhaps a very farsighted steel observer could have forecast the Republic merger as long ago as April 1928, when another steel man in whom Mr. Eaton was interested also changed jobs. This man was Elmer T. McCleary, who, after 22 years with Youngstown Sheet & Tube, left its vice-presidency to become president of Republic Iron & Steel. Under the McCleary administration Republic acquired Sheet & Tube, and in 1929 will more than double its 1928 earnings. McCleary habit: to work 12 hours a day 365 days a year. McCleary pride: the new electrical welding process which Republic acquired in taking over...