Evening star., 1925-01-17
RE|D,T|NPLATE KING,
DIES OF PNEUMONIA
Outstanding Figure in Indus
try Rose From Bank Mes
senger to Financial Power.
By the Associated Press.

By the Associated Press
NEW YORK, January 17-DanieI
Gray Reid. known as the "Tinplate
King" died today at his home here
of pneumonia.
Mr.. Reid, who was 81 years old
was one of the organizers OF the
American Tinplste Company. lie was
a director of numerous business or
ganizations. He rose from messenger
boy in Richmond. Ind bank to a
position of influence in the financial
world
When Mr.. Reid entered business in
wall street At the age Of 81 he was
already considered a national figure
and was then credited with d fortune
OF $4,000. 600.
Mr.. Reid, in addition TO his interest
in the tin plate industry, was a di-
rector of the United States Steel Cor
poration at his death His outstand-
ing work came when the great indus
trial consultations reached their peak
some years ago
He also was connected with the
Moore Brothers and William B Leeds
in tho handling Of tho Rock Island
Railway system, their control ending
shortly before the road went into re
ownership
From humble plant in 1891 with
workmen brought here from Wales
and machinery from England. the
American Tin Plate Company rose in
pr reduction until 1898, when Mr. Reid's
properties were merged with more
than 200 tin mills They were "a pi
| talized for $4,000, 900. The combina-
| tion later was absorbed by the Unit
| ed States Steel Corporation, through
| negotiations by the late J. Pierpont
| Morgan, at a record breaking price
Obtains Control of Railroad.
Mr.. Reid next turned his attention to
| railroading. obtaining control OF the
| Chicago. Rock Island and Pacific Rail
way GO. by buying onezthird Of its S75.-
! 100000 stock in part hrship with the
Moore Brothers and Leeds. When the
! Interstate Commerce Commission some
/ years later was probing the financing
| OF the road Reid became a storm center
| among the roads stockholders, and re
1 tired as chairman Of the board in 1914
! IN 1909. when Mr.. Reid was still q
| prominent figure in the financial world
/ Wall Street was electrified by a Sensa-
| tional rush on Rock Island shares on the
! Monday after Christmas. The price
/ was run UP from $50 To Ss1 on a turn
/ over Of more than 200, ,G00 shares, finally
| dropping to $50 again. Fortunes were
made and lost, the stock Exchange held
| an invest lSdtiOU, q bTthcldEf HI III va
disciplined and Reid was blamed for
! having manipulated the market
! Upon retiring from the Rock Island,
| Reid fioated the $5O.0O0.000 Tobacco
! Products Corporation He continued
activities in business until 1922, when
! his health began to fail. In 1923 ne
resigned as chairman OF the board OF
/ directors Of the American Can Co.
| Mr. Reid's first wife was Ellen Dunn
Reid. He made gifts totaling $500
! coo to Richmond, Ind. as an endoW-
ment for the Reid Memorial Church
| in memory Of her and his parents.
and the Reid Memorial Hospital IL
memory of his son Frank.
| Mr. Reid's second wife, CiariSse
Agnew, who was one of the beauties
| in Hoyt's "A Milk White Flag" and
! later starred in vaudeville, died in
! 1904 Two years later he married
! Margaret NJ. Carrier. a Casino Ia
yorite known to Broadway plsygoeTs
/ in The Chinese Honeymoon and
other musical successes. She divirced
him in 1920. a previous separation
/ agreement giving her 100000 out
| right and $4,000 a year, it was
understood.
/ Business associates Of Mr Reid today
estimated his estate at S50,0oo, ,o0o.