Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-14
MERGER OF STEEL
FIRMS IN BALANCE
Cyrus S. Eaton Principal Fig
ure in Battle Over Youngs-
town Company.
BY JOHN F. SINCLAIR.

special Dispatch to The Star.
NEW YORK, March I4.-The Beth
lehem- youngstown merger fight is a
long way from being. settled. Those
opposing the merger believe that the
move will spell the doom of the Youngs-
town corporation as local institution,
directed and controlled locally-that it
will become just another pay roll center
directed and controlled from New York.
This factor looms very large in the
fight.
1t happens that Cyrus S. Eaton of
Cleveland has his Republic Steel head
quarters at Youngstown. That is why
the Middle-western point of view center
around Mr.. Eaton, but the fight for the
moment is really between the independ-
ents, centering at Youngstown, and the
Bethlehem Steel centering in New York.
From a close checking of the situation
to date, 1t looks as II Cyrus S. Eaton
and the Middle West group have already
sufficient votes to block the merger.
OF the 200 900 shares of youngstown
stock outstanding, it will take two-thirds
of the stock-or 800, 600 shares-to put
over the merger with Bethlehem, but
only 100000 shares are needed to block
1t. And unless strong pressure is
brought to bear on Cyrus S. Eaton OF
Cleveland and his associates to change
their minds, the outlook for Bethlehem
at the stockholders meeting of the
youngstown Steel g. Tube Co. in April
is not favorable.
Thousands of newspaper columns
from London have enabled close readers
to follow the London Naval Disarma-
ment Conference.
To busy man. how does it stand to-
day? Candidly, it looks pretty bad.
France entered the conference, de-
manding huge increase in her tom
mage, concentrating in submarines.
Italy came forward and demands parity
whatever that meanS-with France.
English policy. around which the whole
conference revolved wanted the battle
ship eliminated, but with world trade in
mind, demanded more cruisers. The
United States, not interested in cruisers,
but thinking in battleship terms,
couldn't see this.
France turned to England and the
United States and said, "All right, If
you think we are going to build too
many warships, agree to some program
to protect France against invasion.
Otherwise we build"
The United States and England, with
out hesitation, replied, Nothing doing"
So there you are.
Edwin L. James, newspaper observer.
makes the statement that If the French
stand on their figures, the British
figures must be increased about 20
per cent in cruisers, IS per cent in de-
stroyers, so per cent In submarines. an
increase of 100000 tons over the Hoo
ver-Macdonlad "Rapidan" figures.
''If the American wish to match
these increases. there can still be q
treaty" says Mr.. James.
A treaty to increase, not decrease
armament, Is what the conference
amounts to so far.
1.-The operation was succesSful, out
the patient died"
MahatmaGandhi,I midas popular lead
er. on his fateful 20-day journey to the salt
mines at Jalalpur with his 79 disciples
challenges the government OF india
the British governmental arrest MN
for civil disobedience. British business
men are watching every move he makes
So are the educated men OF India
and the millions of low castles, too.
For midas crucial day Is approach
ing. win the British government per-
NIT civil disobedience? II not, what
India, with its S1s,Ooo,OOO people, is
larger in area and in population tnan
the whole of Europe, Russia only ex-
GUIDED. Seventy per cent of its people
live in the country rural, simple-hV-
ing people, largely nliterate.
Great Britain has well organized
British Army of 10000 men in india,
in addition to a native army of $4,000
men-not many, but more effective tnan
midas unorganized millions.
midas problem now, as always, Is
famines and scourges are frequent,
public health campaigns few in COM
parison to the whole Of the people, and
the climate tropical.
It's a land full of contrasts and con-
tradictions Britain entered INDIA
largely for business reasons. she stayed
there for those same reasons. NOW
India demands that she get out ana
give India independence.
midas trade today with the United
States exceeds 5000, 100000 annually.
She sells to United States about $780,
100000 and buys from United States
goods equal to one-thtrd OF WnaC she
sends to us.
Extremely rich in forests, iron ore
and agriculture, the outside world today
clamors for her surplus wheat, rice
cotton. oil seed and jute. The world in
exchange gives India manufactured
cotton, yarn, metals, machinery, sugar
and oil. For centuries India has been
the strongest magnet in the world for
silver Now it's gold she's attracting
end the world feels the pull.
But India today-what OF 1t? The
political and business sky Is overcast
dark. foreboding Mahatma Gandhi,
this frail, anemic looking, unimpres-
sive man, who commands more follow
ers than any other world leader, Is de-
termined. He wants independence. He
demands it. And he Is willing to pay
the price-death, If necessary.
Great Britain stands firm. She has
had many crises in her history. But
never before. not even during the Indian
mutiny of 1857. has the British politico-
economic outlook in India been so
stoutly challenged.
Miss Frances Perkins, State industrial
commissioner Of New York, in announc-
ing that the index number OF employ
ment in the representative New YORK
State factories for February is lower
than any other February in 10 years.
again takes sharp issue with the FeoeraI
Government leaders.
IN New York City, a beehive for work
shop activity, Miss Perkins reports that
the net decrease in employment from
January to February was less than for
the State as a whole.
Three Northern New York cities
Syracuse, Buffalo and Utica-reported
a small increase in employment from
January to February. The basic iron
and steel industries, clothing. textile
and automobile factories were largely
responsible for this increase.
Syracuse-the blue ribbon city OF this
State in this field-in January and Fep-
ruary reports gain OF about per cent
in employment.
The figures for this survey OF IN
dustrial Commissioner Perkins are taken
from about / 100 manufacturing plants
located within New York State.
Copyright 1880. by North American News
paper Alliance
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