A STRONG COMPANY. THE GREATEST IRON AND STEEL CORPORATION IN AMERICA.
The last formality in the much-talked-of merging of the three great steel manufacturing concerns of Illinois was completed without a hitch. The new corporation is called the Illinois Steel Company, and constitutes the largest combination of steel interests in America. The capital stock is $25,000,000, of which $8,000,000 has been paid in. The percentage of valuation of the old plants in the representation in the new Company is : North Chicago Kolling Mill Company, 54 per cent. ; Joliet Steel Company, 26 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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Te Aroha News, Volume VI, Issue 372, 29 May 1889, Page 5
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132A STRONG COMPANY. THE GREATEST IRON AND STEEL CORPORATION IN AMERICA. Te Aroha News, Volume VI, Issue 372, 29 May 1889, Page 5
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