Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1915-09-27

associated with them were not eiven out
OF the old holders. who were directors
Charles j. Hafrah. FOR . years president
OF the company, Charles u. Dunn and
Howard Sellers, sold their shares and re.
signed their offices. while James r. Sui
Ivan and William +. Barba, remained on
the new organization. Both remain on the
board Of directors. Mr.. Sullivan A. vice
president and Mr. Barba. formerly gem
eral manager, was elected to succeed him.
Joseph Entwisle stenogr4phcr OF the
board, was elected temporarily 90 the
office Of president, in order to attend 10
stock transfer business. MIR Barba will
be active head Of the company for the
present.
Mr.. Corey declined 10 say whether ne
Is to become actual president lie re-
fused 10 say what further purchases were
In contemplation by himself and his as.
sociates.
The statement given cut by Mr.. Taylor.
the Philadelphia who managed the great
financial deal through the months of
preparation which eliminated In the ac-
tual transfer TO day. was as follows;
Settlement was completed today for
the purchase of the Midvale Steel Com
pany Much OF the stock was taken up
on Friday last owing to the absence
OF one Of the executors of an estate hold
ing a large block Of stock. the balance
could not he delivered until today
Tho present value Of the plant is a
great tribute to the genius OF the retiring
president Charles J. Harrsh. who took
charge as president B years ago. II Is
gratifying to know that very little OF the
stock has changed hands during these
wears OF growth and progress. ! believe
the only stock that did change hands was
acquired by valued employees. Mr.. Harrah
not only developed a great plant. but also
built up a splendid stan OF experts, head
cd bv w p. Barba, the general manager
This stan Is one OF the most valued
assets of the company. and I believe Is
capable OF handling n largely expanded
plant and greatly Increased volume of
business.
Mr.. Harrah, Of course. resigned as
president and from the board Charles 5.
Dunn and Howard Sellers. also resigned
as directors. James +. Sullivan also re-
signed as vice president and William r.
Barba, the present general manager, was
elected In his place. The vacancies in
the board will be filled by the election
of william e. Corey, Percy a. Rockefeller
and Samuel +. Pryor"
The estate referred to is that OF the late
William Sellers.
Mr.. Barba declared no Significance
should be attached to the election of
Mr.. Proyor to the new Midvale board of
directors, In connection with rumors
that the du Pont and Schwab interests
intended getting control of Baldyin's
and the Cambria Steel Company, to fight
the Corey interests, which were under
stood to be allied with those OF the
Morgan group.
The Remington Company, of which Mr.
Pryor is general manager. is using part
Of the Baldwin plant at Eddystone, under
n contract thPt provides for turning over
a new building to the locomotive works
"A hon the ufhp1x In 10 NJ,
Pryor Is also director of the General
Motor" company another concern that
max supplies for the Allies
abba b. Johnson. president OF Baldwins
4enied that a statement would he issued
on the expected absorption of Baldwins
by the powder company's owners.
The du Points, famous powder makers
nave loomed up formidably in the situa-
ion since last week. Today it was gener-
ally understood that they are asso-
lated with Mr.. Schwab in the making
" a great combination TO compete with
hat being put together by New York
men, backed by the powerful Morgan
banking interests.
The other group Is saying nothing. So
ar the Schwab-duPont interests have
,eer wonderfully successful in keeping |
heir plans under cover. For instance.
{ was not until an entire new board of |
directors had been elected to the General
Motors Company that IL became known |
hat the Du Points had obtained control. |
Pierre S. Du Pont and S. f. Pryor are |
,mong the nine new men on the board. |
The big contest this week. Indications |
re, will be for Cambria Steel II. c.
'rick is said to be in control here. He |
5 friendly to the Morgan interests. At |
he same time, IT Is said, he will not let |
his Interfere with business. Cambria |
viii go to the highest bidder. II is prob
BILE that enormous profits will be made
n the sale.