The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1918-07-17
STEEL
MERGER IS
BIC ASSE7T 7
Lake County Gains by Flu
sion Of Indiana Harbor
Concern With Other Big
Corporations.

The formation Of the Steel and Tube
Company Of America. details of which
are now AVAILABLE. gives the Lake county
district one Of the few self-contained
steel companies Of the ountr If for
no other reason than IL owns the lro-
quois Iron and the Mark Manufacturing
eompanies-two Of the most important
properties in the middle west-the new
corporation is entitled to a leading rank.
but in addition it has controlling inter-
ests in ore mines. long-term contracts
for iron ore, and holds a contract for
the entire outpu of a by-product coke
plant Of 40 ovens now nearing compile
ton. Thus Il is a complete unit In it
self; it has the iron ore. turned out by
%Irequois; the coal and coke 10 heat to a
melting point, and the finishing plant of
Mark Manufacturing to turn out steel.
The company will start with an an
nua1 capeeity of 100000 tons Of pig iron
and 100000 tons Of finished steel. which
leaves a margin Of 800. 600 tons Of pig
iron to be sold.
Large interests in Company.
That the future Of the company holds
q possibility Of considerable expansion
III many directions is seen in the fact
M& aAAA AAAA &hAAIAAE NJ
the Steel and Tube company Is with in
tersts identified with: semet-solvey
company. Mark Manufacturing Company.
oauois Iron company. Pfckands. Brown
& Co. Pickands. Mather & Co. Newport
Mining ompany and Elkhorn-Piney
Coal Mining company These varied in
tersts embraoe every field Of importance
in the steel industry. and leave room
for a large possible growth in the fu-
ture.
Details as TO the capitalization are as
yet unavailable. but it IS understood
that the company has large assets.
Spend sls,ooo,Ooo At Harbor.
Operatio nof the compsny's immense
$4,000. GOO plant at Indiana Harbor has
already started. To date approximately
sic. 900. 600 has been expended in its
erection, IT is Ideally situated in the
heart Of Chicago's industrial district
and has the finest possible means Of
transportation either by rail or water.
This is by virtue Of a frontage Of nearly
5000 feet on Lake Michigan. more than
5000 feet on the government ship canal,
and connections with the New York
Central. Baltimore & Ohio. Eigin. Joliet
& Eastern and Indiana Harbor Belt
railroads. The government ship canal
affords It a splendid harbor. as il IS
dredged to a depth that will accommo-
date the largest vessels at the COM
pany's docks. the ore dock alone being
$50 feet in length
Properties IN Four Cities.
Included in the company's properties
are. Seven blast furnaces. Bessemer
steel department. o~pen-hearth steel de-
partment and blooming. billet. skelp.
plate and pipe mills. The bulk OF the
plants equipment. including a complete
steel mill and two 600-ton blast farm
aces. is new. There are properties in
south Chicago. Evanston. Ill. and
GAINESVILLE. Ohio. in addition 70 the main
plants at Indiana Harbor-nineteen
miles from Chicago.
Earbor Coke Ovens.
Formation of the corporation. which
is one Of the most completely %independ-
ent in the steel industry. has been under
way for many months. n only recent
" stockholders of the Mark Manufac-
turing and Iroquois Iron companies.
consented to the sale OF their properties.
Negotiations were going on quietly. and
the immense new plant was practically
built before the trade or financial cir
cles were aware of the deal.
Adjoining one of the plants the BY
Products Coke corporation is now build
ing a coke plant consisting Of 100 ovens.
which Will furnish coke 70 the steel
plant. and the ~Iroquois furnaces. Even
the power IS furnished from the COM
nany's own plant. the entire works be
ing electrically driven.
Adjoining the manufacturing property
on an area Of approximately 200 acres.
there has been completed an industrial
village to take care of the employees of
the company other Iand is owned suffi-
GENTLY great 10 insure any possible flu
ture growth.
Officers of the Steel and Tube com
pany. which was formed under the laws
Of Delaware. are: Clayton Mark. chair
man of the board of directors: Ferdi-
nand S~chlesinger, chairman of the exc
cutive committee; A \. Schlesinger.
president and treasurer. and C. p.
Wheeler. C. T. Boynton. Arson Mark
and Clarence Mark. vice presidents.
Buy a Thrift Stamp and lick the