The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-05
A. G. DINKEY HEADS
MIDVALE STEEL co.
New Combine Gets ArmOr
Plate Expert From L. s.
Steel Corporation.
MAY BE MADE CHAIRMAN


Corporation and the Bethlehem Steel
Company. got under way yesterday when
the Midvale Steel Company. its nucleus,
took away from the United States Steel
Corporation the head Of Its leading sub
sidiary and made him president of the
Midvale. Alva c. Dinkey, president of
the Carnegie Steel Company. was the
man.
Mr.. Dinkey In not only one of the best
general steel operating men In the bust
ness bu Is an expert on armor plate.
He and william Ellis Corey. who is
gathering men and companies for the
new combine, grew up together In the
steel business. When Mr.. Corey was
advanced from the presidency OF the
Carnegie company to that OF the Steel
Corporation Mr.. Dinkey succeeded him
In 1903.
Midvale's taking over Of Mr.. Dinkey
is significant Of the rivalry the new
expects 10 enter with the Steel
Corporation and Bethlehem. These three
companies, the Steel Corporation through
the Carnegie company. " for years
been the three chief bidders for tn"
armor plate contracts Of the United
States Government. The Midvale COM
pany at one time spoiled the near con-
troll of the market for armor plate by
the other two companies when II en-.
tered the market as a bidde With
Mr.. Dinkey out OF the Carnegie com
pany special advantage in IN plate
bidding is expected to lie with the Mid
vale.
One ~ "CNrneRie Boys."
Mr.. Corey, when announcing the cleo
ton of Mr.. Dinkey to the presidency Of
Midvale. was asked yesterday II he was
planning TO take any more experts away
from the steel Corporation. He replied
In the negative.
Mr.. Dinkey, In addition to the close
association he will have with his old col.
league in the steel business-both he
and Mr.. Corey were among the famous
Carnegie boys"-was drawn to the new
combine by the attraction Of "A higher
salary than the United States Steel Cor
poration could AFFORD TO pay.
He is n brother-in-law OF Charles NJ.
Schwab. but this Is not expected to lead
to any a~malgamation of the two COM
panies. 1t was pointed out that the two
could not AFFORD to combine. as in that
event. a competitor might easily enter
the field against them in bidding for
United States Government armorplate
work.
Percy Rockefeller. W. F.. Corey and
other interests In the new company held
a meeting yesterday ut the offices OF Mr..
Corey and E.. G. Converse on the twenty
ninth fioor OF the Bankers Trust Com
pany Building. when Mr.. Dinkey was
elected president and IA director Of the
| Midvale.
After the meeting Mr.. Corey said:
I'VE have elected Mr.. Dinkey presi-
lent OF the Midvale Steel Company. He
resigned as president OF the Carnegie
Steel Company on SATURDAY. came,
now say anything further about the
plans of the company.
He May Re Chairman.
He refused to answer when asked
whether Mr.. Dinkey would be elected
chairman OF the board.
II was learned in other quarters that
Mr.. Corey will be made president Of
the combination az soon as II is formed.
one OF the companies to be taken over
is the Remington Ammunition Company
OF Philadelphia. This company was
an offshoot OF the Remington Arms
Company and was recently forme |
with a nominal capital Of $4,000 II
handle the making OF rifles which are
now being constructed at the Eddy
stone plant OF the Baldwin Locomotive
Company. II is understood that tho
number OF rifles already contracted for
IS over $500. 900. In addition TO the
Remington Ammunition Company. the
Eddystone Munitions Company. also es-
tablished by the Remington Arms Com
pany in cooperation with the Baldwin
Locomotive Company, is making war
munitions at the Eddystone plant OF the
Baldwin COMPANY. Between the two
new munitions companies rifles. shrap-
mel and explosive shells are being man.
ufactured. Though II could not he
learned definitely yesterday. IL is be-
lieved that the Midvale's decision to
secure control OF the Remington Ammu.
milton Company mas extend TO the
Eddystone Munitions Company.
In it's dealings the Nidvale is under
stood to have treated direct with the
Remington people. The Baldwin Loco
motive Company Is concerned by reason
; OF the large royalties II receives on IN,
production of all munitions made at It's
Eddvstune plant. IT Is expected that
these royalties will continue to be paid
To the Baldwin on all additional work
that may be contracted for by the new
M!dvale company at that plant \ Nat
; sun may be agreed on between tn
: Baldwin company and the new Midval,
as the Baldwin share OF the production
profits.
To Gct Ore Company.
The Midvale combine viii also TAX,
over an ore producing company. This
fact Is a measure Of the large operations
It intends to carry on,
Judge Elbert II. Gary, chairman o
the board Of the United States Stee
Corporation. said yesterday that he re
gretted the loss of Mr.. Dinkey. w ar'
very sorry TO part with him saiC
Judge Gary, "He is one OF the ables'
all round steel men in this country ant
he has rendered effective and satisfac
tory service to the Carnegie Company.
"He will receive from the Midval,
company greater compensation than w
could afford to pay. He has our conf
dence, friendship and best wishes 70
continued success. The "earrangcmen
of the organization In the Carnegie Stee
Company will probably be decided upoi
and announced within a very shor
time"
How far the new combine will pusl
the Steel Corporation in competition 70
business Wall Street is at a loss 4
Judge. r.. e. Converse, one OF the cen
trail figures in the new Midvale company
has for years been on the board Of tn
Steel Corporation. 1t IL believed tina
the rivalry for business will be OF
friendly nature, particularly as the Mid
Wales business will be largely specialized
In armor plate and ordnance.
During this week, 1t Is believed.
further announcement OF the plans o
Midvale Is likely, at which time tn
election will be made public OF the head
of several large Wall Street banking in
situations.
1t has been reported that one OF III
purposes of the Midvale Steel Com
pany Is the establishment somewher
on the shore of Lake Baikal. Siberia