The Bridgeport evening farmer., 1915-09-25
COREY IS HEAD OF NEW STEEL COMBINATION THAT PURCHASES,
 MIDvALE 60. FOR $22,OOO, 900

New York; Sept, 25-The Midva1e Steel Go. of Philadelphia, for which negotiations were successfully under taken by 3. syndicate headed by Will liam A. Read & Go, has now formal 1yS passed into the control of that syndicate, and a contract has been made whereby the great concern is to go to a, company to be organized and controlled by E. c. Converse, Will liam Ellis Corey, Percy A. Rockefel- Ter, Ambrose I. Mcneil, Frank A. Van derlip and others of high standing in finance.
 MT. Corey is to return to active work in that industry. to which he devoted himself from the age of 16, when he entered the employ of the, Edgar Thomson Steel Works in Brad dock, Pa.. until 1911, when he retired from the presidency of the United years in that office.
 Corey to Be President.
 Though in the four intervening years MT. Corey has continued to be a director of-many corporations, he had up to the outbreak of the war spent most of his time in France with his wife, Mabelle Gilman, whom he married in 1907 after a divorce from his first wife and a wooing' of the second which caused much opposition among the powers that be in the Steel Corporation. He is to be president of the new. cbmpany.
 The men Who are organizing the new company have ambitious plans They propose to increase greatly it's capitalization from it's modest amount of $9, 900 and greatly to expand it's activities. First of all they propose to enter into the busi- sTNf ,1x5 terprise from which Charles Jefferson Harrah. who controlled the staid old M1dVale, was stopped by differences in his family.
 Edmund c. Converse is the man re- lied upon to secure these contracts for the asking. MT. Converse, a Gt1iet man, a, director Of the United States Steel Corporation, the Bankers Trust and other trust companies, the Liberty National Bank, The American Can Company, International Nickel and concerns, is not so well known as a great power behind his screen of si- lenoe. But it is through Mir. Con- verses influence in banking that there have come forward a group of men known in intimate Wall Street circles as "Converse's boys.''
 Some of "Converse's Boys.''
 H. P. Davison, ranking partner of
 
 verses boys, and Thomas w. Lam ont, also of the Morgan firm, is another. Albert H. Wiggin, president of the Chase National Bank and chairman of the Clearing House committee, owes his advancement largely to the . same educator.
 Benjamin Strong, Jr., formerly president of the Bankers Trust com pany and now governor of the F7eder- al Reserve Bank of New York, was one of Ecnverse's boys before he be- came his son-in-1aw. Seward Pross- CT, now president of the Banke CTS Trust Company, and several other young men of Wall Street prominence are in the same group.
 The plans of the new company as outlined by one of its organizers yes terday are. similar to those elaborated by MT. Converse and their associates when they gained control of tho Elec- iric Boat Company early this year That company immediately secured war orders up to it's capacity. It's 7tock advanced so rapidly and got so nigh, going from 6 last year to 565 few weeks ago, that it became ur- xieldy as a medium of public interest. hsre was then organized the Sub-