Evening journal., 1913-10-22
S142,52l IS
HIGH BID FOR
STEEL PLANT
New York Company Would
Take Over Land and Build
ing Of City Company
SALE NOW UP TO
CHANCERY COURT

. Representatives of iron and steel
manufacturers from al! the Eastern
States gathered in the offices of Robert
Fl. Richards, counsel for George $. Ca
pelle, and John Richardson, Jr., trustees
of the Diamond State Steel Company,
this morning, when in pursuance Of the
orders of the Court of Chancery the
property, both real estate and other
wise, was offered for sale. Theodore
Friedelberg, representing the Manhat.
tan Machinery Exchange, Of No. 2l7 10
Center street. New York, was high bid
der for the entire plant, including the
real estate, his bid being Sl42,52l.
George w. Chambers, Of this city, bid
S5l 900 for the real estate, which was
the same bid as offered by Mr.. Friedel-
berg for the real estate.
Following the sale. Mr.. Friedelberg
told an EVENING JOURNAL reporter
that he represented an English syndi-
cate, whose business is similar to the
Bush Terminal Company Of New York.
This company operates riverfront termi-
mails, warehouses and docks.
Frank Samuels. of Philadelphia,
submitted a bid of s121,127.S0 for the
entire plant. The same firm offered
SS1,127 for the real estate alone.
The Wilmington Steamboat Com
pany bid $4,000 for that portion of
the real estate designated as lot B,
while the Capelle Hardware Company
bid $4,000 for the real estate known
as lot A. Many of the bids submitted
today were for small lots Of the ma
chinery and the metal about the plant.
Bids for the property were opened
irrespective Of what portion Of the
plant was wanted. and among the bids
for small portions of the metal and
machinery received was one from the
Pusey and Jones Company of $500 for
lot No 50S and 500 for lot No. SO.
John NJ Sypherd and Son, OF New
- York bid $1,000 for various lots and
the American Car and Foundry Com
pany, of this city, submitted a bid OF
81, 200 for lot n. 11O6.
The bids surprised those present
the prices offered being small. The
Atlantic Manufacturing Company of.
fered TO take old scrap in the mills
at one-half a cent pound and belt.
ing was bid at a like amount. The
Lobdell Car Wheel Company offered
to take the following lots: Nos. S72
426. "a, 95, 81 and furniture from the
laboratory at $196. The Joseph Ban
croft and Sons Company offered u
take lot No. 1161 for $780,
Rubber hose about the plant was
bid for by the Manufacturing Rubber
Company at two cents pound, whil'
the same firm offered to take lot No
1O5. a motor. for $65.
The bids will be presented to Chan
cellor Curtis on next Monday for con
eideration.
The plant consists of fifty-si
acres of land, machine shops. iron an
brass foundry. five fifty-ton furnace
blooming mills, seven finishing mill
pudding furnaces and mills, spik'
horseshoe and nut departments
Among the bidders were represents
tives of the Ridge Avenue Iron an
Metal Company, Philadelphia; Capel
le Hardware Company, the Hills an
Jones Co., Washington; Theodor
Friedberg. New York; Frank Samue
Philadelphia; J. Fl. Oliver g. Co, Phil
adelphia; Westinghouse. Church
Kerr e. Co; Atlantic Manufacturin
Co. Wilmington; Henry Hitner's Son
Co. and Michlovitch & Co, Harris
burg