The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1922-01-06
]. & |. co.
BIG FACTOR
IN INDUSTRY
PittSburgers Refuse to Enter
Merger of Independent
Mills
RYH. r CROSS


The Jones and Iaughlin Steel Com
pany is not coming to Hammond be-
cause it likes the weather peculiar TO
this locality or because there are some
good fish restaurants on the lake
front.
It is coming here because il /. fore
ed to have blast furnaces and a steel
min in the Chicago district to com
pete with tho United States Steel Cor
poration at Gary and the combine" OF
Independent steel companies in East
Chicago.
If the Bethlehem. Midvale. Youngs-
town. Inland and Briar Hill steel com
panies merge per schedule. the Pitts
hugh plus or pittsburgh basin point"
custom will be discarded for all time.
The $40 per ton freight rate on steel
from Pittsburgh to the Chicago mar
ket would practically eliminate the
Jones and Laughlin Company from
competition with the com bine" and
the corporation" in this district
In the natural course of events tho
Jones and Iaughlin company. having
refused to enter into the merger ot
the Independent companies and being
strong enough to fight them. has tax
en- option on approximately 1000 acres
Of land in the north side OF Hanmond
for the purpose Of building blast FUR
naces and a steel mill.
Currency covering the purchase
price has been put UP with the Fletch
e7 Trust & Savings bank OF Tndianap-
oils Certain facilities such as per-
mission to change the canal must be
obtained from congress.
only refusal OF congress to grant
this privilege or . collapse Of the
merger Of the other independent steel
companies could change the plans ot
the Jones and Laughlrn Company, il
appears.
NEED PLANT HERE.
Even though the Bethlehem, Mid
vale. Youngstown. Inland and Briar
Hi plants do not unite. Jones ana
faushIin need the Hammond plant
They stole q march on their compeii-
tors by getting the best side in the
entire Chicago district for big stee.
mill The site without plant iG os
no advantag sc to them.
That the Jones and IauEhlin Com
pany was strong enough to stay out ot
the combine Of independent stcol
plants Is evidence Of it's ability to car
rv ont plans for a big mill In Ham
mond. Rated BY Bradstreet and Dunn
as al and worth s150.o0a. coo Jones'
and Iaughiin arc fortified by three
generations of conservative manage-
rent and immense family fortunes q
hold their own with either the United
states steel Corporation or Charies
schwab's combine of the Independents.
owN ORE MINES.
Jones and I.aughlin have the biggest
steel mills in the Pittsburgh district
ae Aliqui7Da, WOODLAND n, and Soho Fa
They produce their ore and coal from
their mines haul it IN their feet
of boats on the Great Lakes and over
heir railroad. They can hold their
own with any competitor in the
east but 70 keep in the Chicago mar
ket they must have a plant IN this 10
eaIity. now that the custom OF estimat-
ing all freight rates on steel from
pittsburgh IS being ignored by Other
Let's suppose e case. salesman
for the combined independents is after
n order for 1000 tons of sheets in
Minnesota. He quotes price plus
freight from Indiana l1arhor. Tho
salesman for the Jones and I-aughiin
company names a price plus freight
from Pittsburgh. In erder 10 get th7
order The pittsburgh plant must tax
a cut OF 81 10 ton. the difference in
freight rates.
IT the consolidation or the other in
goes through the Jones g.
Laughiin Company viii be forcea ta
build plant in this district IF The
consolidation falls through the Jones
and Laughln Company has excellent
reason for building plant n this dis
.riet
FAMILY INsTIT UTION.
There is no chance of Jones and Laus
1lin entering the combine. it is d.
Jared by steel men. The grandsons Of
lie founders of the mills desire above
III else to perpemats the name OF toe
lru. Through three generations the
ails have been operated by the fam
lv along sound and conservative lines.
There has never been any underwrit-
ng or stock expansion. 1t is an air
light. solid concern with a tremendous
surplus.
The Jones and Laughlin families arc
1oclsl leaders in Pittsburgh and thcir
,rivate fortunes arc among the iarE
st in the country. They can well all
ord 10 keep the name Jones and
4aughlinn over the gates or their mills
Ind fight combines no matter how large.
All of which means that Lake coun-
IS is the cbeckorboard for the greatest
yaIne in the history OF the steel bust
less. 1t SIS more than the new Pitts
,ureb" IT is destined to be the heart
Il the steel world.
TOO FAR TO BACK OUT.
Furthermore IT appears that the Jones
md Laughlin Seople have gone too far
With the Hanfmond deal to back out.
70 all intents and purposes the land q
las been bought and paid for. Apr
euator or congressman from this
riet who would not obtain tho