Complex sentence: In 1928, it was agreed that Nichols' capital would be increased and the stock issued to finance a proposed new plant in El Paso, Texas; all the new stock was taken by Phelps Dodge Corporation.
Split into simpler sentences: In 1928, it was agreed that Nichols' capital would be increased and the stock issued to finance a proposed new plant in El Paso, Texas. All the new stock was taken by Phelps Dodge Corporation.