OCR Text |
Show MIG1E COMPANY ROW REORGANIZED Final Settlement in Purchase Pur-chase of Steel Company, $18,037,500, Made. PHILADELPHIA, Sept. 27. Final settlement in the purchase of tho Mid-vale Mid-vale Steel company of this city was made today and the staff of officers of the concern was reorganized, with William Wil-liam K. Corey, former head of the United Unit-ed States iStoel corporation, as the new president. He succeed Charles .(. Har-rah, Har-rah, who sold his interest in the company com-pany to the group of capitalists that lias taken over the concern. Tho purchase pur-chase price was $18,037,500. William P. Kara, present general manager man-ager of the Midvale company, was elected elect-ed vice president, succeeding James B fSullivan of this city, who also disposed of his stock. The new directors of the companv include in-clude Mr. Corey, Percy A. Rockefeller and Samuel F. Vryor, who is also a director di-rector of the Baldwin Locomotive works and the Remington Arms company. The presence of Mr. Corey gave impetus im-petus to the report that he and bis associates as-sociates are endeavoring to brinjr into one corporation a number of independent indepen-dent steel concerns for the purpose of securing large war orders. Air. Corey would not talk. There was no confirmation of the report re-port that Charles M. Schwab, president of the Bethlehem Hteol corporation, and certain individuals identified with the Dupont Powder company, had obtained control of the Baldwin Locomotive works for the purpose of making ammunition am-munition for the entente allies. |