OCR Text |
Show DOUBLED ITS CAPITAL. The Illinol. Hteel Company Inercataa It. Capital to nUO, ooo.ooo. tlUiOAoo, Feb. 20. The stockholders of the Illinois Steel company have voted ! to increase the capital stock from $25,-A $25,-A 000,000 to $50,000,000. It is stated the f 1 . proceeds from tho new stock will be a y, , used in greatly enlarging the plant and VVv that only a portion of the stock is to be w JK put upon the market. The strike at tho company's works, inaugurated last December, was ended yesterday. The 2500 employees accepted tho sliding scale proposed by Manager Walker, and for the first time in nearly three months the South Chicago plant showed signs of life. The wages will be governed by the price of steel rails. When the price pies up the wages of the men will be increased, and when the price goes down, the wages will be decreased correspondingly. |