The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1920-07-03
STOCkHOLDERS
UNANIMOUS On
CONSOLIDATION
WHEELING STEEL AND IRON, La
BELLE IRON WORKS AND WILT
AKER-GLESSNER PLANTS
MERCER APPROVED
ownsrA Of Stock VIII Receive value OF
Their Paper In Certificates
Of New Corporation.

Resolutions were adopted At meet
lnGs hold separately 10y IN" S~to'kho.uI
"rsuf thrc" Of IN" largest steer anu
lrou companies in IN. country, sItna''I
IN Wheeling. Yesterday. approving Of
che consolidation Of thr three corpora
,ions. the NEUTRALITY-SUSPICIOUS. company
the Wheeling Steel and Iron company
and the La Belle Iron Works,
The plans for IN" merger vt IN" cor.
porations and IN" increases Of stock
and tho transfer Of the certificates
from each company Tor certificates or
stock IN tn" Wheeling stool corpora
tlon. rs the hIr newly merged company
viii be named. We're explained IN de
tail and w"r" satisfactory To StNFN-
holders Of all the companies
1t will require a week or NOR" u"
transfer the stock into n" new COW
nany and It il stated that IN IN" nl"An-
called Of all the interests and dlt"'-
tors Will be chosen for tn" Wheeling
Steel corporation. .,
stockh6lIcr$ Of tho Wheeling St""l
and Iron CCmpaur net n IN" offices "'
the company 81 10 ""l""k YESTERDAY
morning Nearly all w"r" represented
Hlther in person "r by PROXY. -,
w. +. Stone acted as chairman &nd
{. ]. Hunter ~ secretary \ r"SoIt-
ton brought M 20 increase N" car
ital stock ISSUE Of tn" company from
slO,o 900. OOo to Sl+no",""a waS passed
unanimously.
This step was formal. being IN linz
With the TrcSTnm OF IN" cnnn n%"timS
with the La Belle Iron company ana
the Whitaker-Gl"ssncr company.
An additional division "f tn" a'"unu-
lated surplus Will be mad" as soon AZ
authority is received from tn s"cr"-
tary OF state. by increasing IN" "ut-
standing capital stock A. prr cont, Al
lotting the new issu. t" cNistInS
stockholders. "
Wheeling Steel and Iron company VIII
be ready for m" merger. II - StAt"H
by officials that practically aIP az the
stockholders have agreed T. irluSt'r
their holdings fer ccrtihc2l'> ~ inc
new corporation.
ing IF tho stockholders Of tn" Ia R"lle
iron Works AZ the Market auditorium
Yesterday morning ut 10 o clock, ~"
resolution to increase the capital STOCK
unanimously passed. The st"rKn"ldyrs
viii be allowed to exchange. Shar" for
share. for common and preferred Is
stock In the row corporation. y r'S"-
luton approving TN" formation w IN
Wheeling Steel corporation vas passed
unanimously.
Al the mect!ng Of the Stockholders
Of NEUTRALITY-SUSPICIOUS. ? ms
morning a resolution was adortHd &c
claring A stock dividend Of l7S Ter
cont. while a second resolution was
offered and passed accepting the or"r
of the Wheeling Steel corporation
which calls for the exchange Of tn"
Whttakcr-lcssner preferred stock m
the basis Of one share for one share Of
preferred 4 IN the Wheeling St"rl
rornCration Tho second resolution
also calls for the exchange "t on"
share Of Whiakcr-Gl"ssner CONNER Tor
onc-third shar" Of the common STOCK
in the Wheeling steel corporation
Tho meeting was presided Over ny l..
c. Ewing and tho details of IN" merger
az exclaimed were heartily approved Ivy
the stockholders. Whitakor-Gfi"SSn"r
officials stated that they believed tn"
majority Of their stock viii oe, trans
ferred into IN" new concern "ItnLh NV
pc1t f,w DAYS and indications point for
a cali for tn" election Of directors n,
tho near future. Ninety per com "l
the stock Of the company was r"pr"-
sented either in person or by proxy.