The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1922-05-09
ON TRIP Of
INSPECTION
TO REGION
independent Steel Combine
Hinges on Outcome Of
Visit Here

Nothing definite can yet be
announced relating TO the con-
solidation project now under
consideration involving seven
independent American s el
manufacturing companies"
That was the declaration made
last night by ]. A. Campbell of the
Youngstown Sheet & Tube Company,
Youngstown, O., one of the principal
officials of a coterie of fourteen rep
resenting the MidvaIe. Lackawanna,
Youngstown Sheet & Tube, Repuo-
lie, Inland, Steel G. Tube of America,
and Brier Hill Steel. now visiting
the various plants of these com
panies for the purpose Of determin-
ing an equitable basis upon which
to conclude a tentative merger OF
the properties concerned, valued
close to $1,000. 900, 600.
INSPECT INLAND STEEL
Yesterday the party of inspection.
numbering more than sixty, jour
neying from Buffalo In The Billion
Dollar" special train to the plant
Of the Inland Steel al Indiana Har-
Dor. and today they will finish their
trip by visiting the mills of the
Steel & Tube Company OF America.
The party representing the seven
different Independent companies in
terested in the merger includes:
William Ellis Corey. chairman, and
A Dinkey. vice president of the
Midvale Steel & Ordance Co; John
A. Topping, chairman. and Thomas
Gray. president. of the Republic
Iron & Steel Company; ], A. Camp
bell, president. and c. A. Robinson,
vice presid ent. of the youngstown.
Sheet & Tube Co; Moses Taylor.
chairman. and George f. Downc,
president. Of the Lackawanna Steel
Co; F. b. Kennedy, chairman. and
James H. Crosse. president. of the
Brier Hill Steel Co. Clayton Mark.
chairman, and Clarence Mark, vice
president of the steel &. Tube Co. of
America; and l. e. Block and P. d.
Block. president Of the Inland Steel
Co,
INLAND NEAR CAPACITY
In spite of the present coal strike.
the steel potentates found the In
land steel Co. operating close to
capacity when going through the
several department of the two
plants yesterday. With the excep-
tion of one blast furnace. three open
hearths and one small battery OF
coke ovens, every section of the
plant was found running at full
tilt, the mills displaying unusual
gains in their revival since the In
dependent officials last visit, some
time in February.
FAVORABLE IMPRESSION
From the many favorable COM
ments made by members of the
party. there is every reason to be-
lieve that the visitors were well sat
isfed with their inspection of the
Inland Steel properties. According
TO plant superintendents of the To-
cal company. every mill was in Al
shape when undergoing the scrutiny
of the steel executives yesterday.
VIM A. Maxwell, Jr., general super
intendent Of the Harbor mills, was
highly complimented by the visitors
and particularly by l. E. and P. ID.
Block, chairman and president OF
the Indiana Harbor plant, on the
appearance. operations and general
conditions Of his plant.
FINAL MOVE
According to a recent statement
made by Clarence Dillon OF Dillon,
Read g. Co., New York. bankers. the
combination depends entirely upon
the outcome of the present inspec-
tion trip. 1t was the concensus of
opinion among the steel authorities
while visiting in the Calumet dis
trict yesterday that their inspection
is the last straw in the proposed
merger ANY statement further
than that. all were reluctant to
make.
The party left the Inland Steel
plant at about o'clock yesterday
afternoon for the Iroquois furnaces.
a subsidiary of the Steel & Tube
Co. of America at South Chicago
After inspecting the Steel & Tube
Co. plant in Indiana Harbor today.
the steel officials are reported to
continue on their toI- to Birming
ham. Aala. returning via Youngs-
town, Ohio, to New York City.