The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-10-05
NEW STEEL COMPANY
LANDS ALA c. O|MktY
lions Grsnt Arn,er Plate
Expcr1.
CoREy TO HEAD NEW CONCERN
MIR Dtnkey VIM Hc President of Mid
vale Company. Which la Neucleus OF
New Stcei Corporation to Rival
L. y Steel

New York. oct 4-The new big
steel corporation which Is expected to
rival the United States Steel Corpora
ton and the Bethlehem Steel Com
psny, Kot under way today when the
MidFale Steel Company It's nucleus
took away from the United States
Steel Corporation the president Of it's
, ,li3 subsidiary and made him
president Of the Wdvale Alva G,
Dinkey, president OF the Carnegie
Steel Company. was the man.
Mr. Dinkey is not only one of the
best general steel operating men in
The business but Ia the one big ex-
per; on armer plate in the United
states Steel Corporation He and
William +. Corey. who is gathering
men and companies fer the new steel
combine, grew up together in the steel
business When Mr. Corey in 1903
was moved up In the steel corpora
!on from the presidency Of the Car
neg!e Company TO that Of the cor
poration. Mr.. Dinkey succeeded him
Midvate's taking over OF Mr.. Dinkey
- significant Of the rivalry the new
company expects 10 enter with the
steel corporation and Bethlehem.
raese three com panies have for years
been the chief bidders for the armor
plate contracts Of the United States
Government With Mr.. Dinkey out
OF the Carnegie Company, special Rd-
vantage In arfnor plate bidding is ex-
pected 20 lie with the Midvale
Not After More Experts.
NJ. Corey, when announcing the
election ~ Mr. Dinkey to tho presi-
dency Of the Nidvale today, was a sked
Z he was plsnning TO take any more
experts away from tho big corporation
gpv hts ~ Ia col ha
was not
Mr., pinkey is brother in law Of
r. r-r--- n --i1wat', It IN not ex-
9ected. However. that this will lead to
any Igamation Of the two com
psriea II was pointed out that the
two could not afford to combine as
IN that event a competitor might easily
enter the field agstnst them in bidding
fer 'uited States Government armor
plate work
Percy Rockefeller w. r Corey and
other interests In the new company
held a meeting today at the Offices
OF Mr.. Corey and D. G. Converse. in
the Bankers Truet Company building,
at which Mr. Dinkey was elected
president OF the Midvale and also
director. After the meeting Mr..
Corey said
We have elected Mr.. Dinkey presi-
ent OF the Midvale Steel Company
He resigned az president of the Car
negie steel Company on Saturday +
cannot now say anything further
about the plans Of the company"
Corey win He President
II was learned Mr. Corey will he
made president Of the new corpora
ton as soon as the combine is COM
pleted.
One OF the companies 10 be taken
over is the Remington Ammunition
Company OF Philadelphia, This COM
pany was an off shoot OF the Reming-
ton Arms Company and was formed
with Il capital Of $50 tiff TO ifantiie
the making of rifles, which are now
being constructed at the Eddystone
Company. 1t .is understood that the
number OF rifles already contracted
for is over 2bo0. 600.
The new Mdvale combine will take
over au ors-productng company. This
fact IA "a measure Of the large opera
tons Il intends 10 carry on.
Judge r. H Gary, chairman OF the
board Of the United States Steel Cor
poratton regretted today the loss OF
Mr. Dinkey We are very sorry TO
part with him" said Judge Gary,
He ia one OF the ablest all-round steei
men IN the country. He has rendered
effective and satisfactory services for
the Carnegie Company, and hts loyalty
has always been undoubted. He will
receive from tho Midvale Company
greater compensation than we could
"a ford to pay. He has our confidence,
friendship and best wishes for con-
t!nued success"