The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-05-02
Big PRICB 70 BB paid
For the Standard Iron Mill and
Maybe the Etna.
A RICH ENGLISH SYNDICATE
Persistent In It's Efforts TO Obtain tho
Two Mills aud Combine them.
Tho Truth about tho Case.
a Gigantic Project.

The Standard and Aetna mills will
probably DO sold at u very large price to
an English syndicate, Mt leust It looks
that way now. The price asked for the
standard Is $780, 900 and nearly MI Of
the principal stockholders are willing to
sell. II these mills are sold the syndi.
cate will greatly increase their capacity,
and not only make sheet iron ut the
Standard, but also tin plate.
The overtures were made 10 these
two mills some time ago, and several
meetings have been held with reference
to selling. The Aetna people offered to
sell, but afterwards refused to accept
tho price named. Since that time ne.
gotiations, have been pending for the
purchase OF the Standard. one OF the
most prosperous In the United States,
aud from what can be learned the com.
pany will sell the plant at the price
named, 100000, each stakeholder hay
Ing the privilege Of retaining his stock
at the present value. The capital stock
is Sl50.0Oo, and this would give the
Stockholders al enormous profit.
TIE SALE ASSURED.
From n reliable source yesterday, the
lNTELLlGIScER learned that all OF the
big stockholders had sigued n paper
agreeing to sell at this figure, excepting
two, and one OF these had promised 10
sign it, and the second surely would
sign. 1t was also learned that several
OF the large stockholders had deposited
their certificates OF stock in. different
banks, subject to collection, If the sale
was made. This looks like business.
The syndicate was anxious to take the
mill April LIST, and get the benefits OF
profits from that time, but will not now
take charge until December /, 1890.
The capacity OF the mill If sold will be
more than doubled, a tin plate mill to
be included in this, and the present
management will manage the enterprise
Tor three years. At present only sheets
are manufactured here, but it is
made in both iron and steel, and n grea,
deal Of this is corrugated and galvanized,
The Standard was built about eigh,
years ago, and has been enlarged from
time to time until now it is one Of the
largest and best sheet mills in the
United States, and has = worldwide
reputation.
RECENT ENLArGEMESTs.
About two years ago a corrugating de
partment was added, aud lately the mil,
commenced making galvanized iron, anG
these, like the plain iron and steel sheet
have grown to immense proportions
Last summer the mill was reGtted
throughout, a large three story brick
warehouse was erected and other i'm
provements made. The company has
been contemplating still further i'm
provements, among them the erection o
an office costing from $1,000 to $1,000.
In the mill there are eighteen pudding
furnaces, five sheet furnaces and two an
healing furnaces, and over 400 men ant
boys are employed. The capacity OF the
mill is about seventy tons daily, and the
Iron and steel sheet made Is unsurpass
ed in quality and finish.
The Standard has run steadily ever
since its inception, and its Stockholders
have been paid handsome dividcndt
from year to year. The president is L
Delaplain, Of this city, the secretary w
S. T. Graham ,of Bridgeport, and the prin.
cipal stockholders are ". W. Holloway,
~: Holloway and W. T. Graham, o
Bridgeport, l.. Spence, John Armstrong
and William Mann, OF Martins Ferry,
Major A. Loring and /. S. Delaplain, Of
Wheeling.
Il .ETSA.
II the Etna mill is purchased the two
plants may BIZ combined. Both will be
enlarged, and this would make one Of
the largest mills in the United States.
1t is learned from EXCELLENT authority
that the principal stockholders of the
L:tna ara willing to. sell, and one oil
them said yesterday that he believed it
would be sold with the Standard. The
Esna mill is larger than the Standard
and employs about 600 hands. The
Attna people were more modest In fixing
a figure than the Standard, but will prob.
ably get more money than was first
asked, as the syndicate is very anxious
to buy both mills. rs