Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1904-10-06
TO FIGHT TRUST
Republic Iron a Steel Company Pr
pares for Wider Scope OF
Operations.
LOAN OF 100000 is MADE
Sheet and Tin Bars and Steel Rails
Among New Products to Be
Turned Out.

The officials of the Republic Iron &
Steel company, which owns the local
steel mills, have completed negOtia-
tons by which the company will be
able to raise $7,0OO,0O cash TO prose
cute it's expansion plans and meet its
floating debt. The amount Will put
the company in the best of condition
to extend it's competition with the
United States Steel corporation. IL is
raising the funds through its friends in
the west.
The First National bank and the
First Trust & Savings bank of Chicago
have arranged to furnish the money.
The steel company will issue 100000
900 first mortgage per cent bonds.
| Ii also will issue twO-year ANA three
year notes to the extent of $7.000,0oO-
These notes have been taken by the
institutions named. and they VIII have
the bonds as collateral security for
| the notes.
| Half of the notes. or $4,000 run
two years. and the other half three
years They bear > per cent interest
and will be issued as funds are needed
| by the company.
| IFephEcN az
The Republic Iron & Steel company
proposes to enlarge it's business and
put itself in competition with the
United States Steel corporation on ne"
| lines.
The first intimatiOn of the companY's
laggressiveness and ability To compete
with the United States Steel corpora
| ton was given when it created sen
satiOn in steel circles a few weeks ago
| by entering into 4 contract with the
Pittsburg Steel company ID furnish The
latter with billets. The PittSburg CON
Germ is the largest individual cOnsum-
er of billets in the country. Its con
tract had been with the Clarion Stee.
| company. which was absorbed by the
United States Steel. The latter was
unaware of the Republic company's
ability to manufacture billcts in SO
large a quantity as required b. the
PittsbuTg company. and in consequence
assumed there would be no competi-
ton for the renewal of the Pittsburg
Steel company contract
But the Republic Iron & Steel com
pany completed July l an altogether
modern steel mill at Youngstown. Ohio,
at a cost of nearly 100000. To keep
this plant going it was found necessary
10 seek business on a large scale, and
the contract with the Pittsburg Steel
company was the result.
VIII Make sheet and Tin Bars.
| Now il is announced chat these
works are TO be enlarged in order to
manufacture sheet and tinplate bars.
| Ii also has been reported that the Re
public would manufacture steel rails.
The loan which it has just negotiated
will enable it to carry out these plans.
| AS the company is the owner of large
ore bodies, il is in a position TO com
mand all the raw material necessary
and turn out finished products from its
Town resources.
The company was organized in May,
1899, with capital of $20.41G,900 pre-
ferred and $27191. 900 common stock
1t began paying dividends of per
cent on its preferred stock, but discon-
tinued them in December, 1903 Mean
while its earnings have gone for i'm
proving the plants.
Mrs. o. P. HalversOn, Racine-Was
sick for five years; nothing agreed
with me. HOLSTERS Rocky Mountain