Show ir V e eN N j p 4 4 I t Y f I 1 rr- rr jf 4 d A i t. t 4 4 7 4 1 4 I I MAKE FIRST PAYMENT ON GENEVA Max D D. D How Howell ell left ice ico ico treasurer president-treasurer of the tho U. U S. S Steel corporation New York City presents pre pre- I checks totaling In payment pay 18 ment for the Duquesne Homestead and Brad Braddock dock Pa Fa steel plants and part payment for the Gencva Genea Genca Ge- Ge a nc steel plant to Gen len John J. J OBrien O'Brien OBrIen WAA A AA A deputy administrator as ns Merrill 1 Russell ex S. L. L man Gene a secretary tar watches AP V eph to U. U u S. S Steel Pays 12 2 Million On New strides toward oward full operation operation opera opera- tion of f the Geneva steel plant at Pro o were taken Wednesday when United States Steel Corp officials officials' handed government of officials officials ti- ti dais in Washington D. D C. C three checks ks t totaling t ling Ung as first payment on sale of the plant to 9 a subsidiary Geneva Steel Co At the same time the contract of sale AVas I S J. J The h bel w wara f S administration administration- and Geneva was signed by Walther Mathesius Geneva Geneva Ge Ge- neva president The che checks ks included a down O payment and 7 for il inventory and accrued Interest Balance In Two Years Balance of ot is ii is due two years from the date of obid bid ac ac- ac acceptance with the contract givIng giving giving ing U. U S. S Steel the right to pay any or all of the balance before that time U. U S. S Steel also paid the government government gov gay 00 in full payment pay pay- ment for the Duquesne Homestead Home Hom stead Braddock steel facilities all an three in Pennsylvania to be operated operated op op- op- op crated by Illinois Carnegie-Illinois Steel Stee Corp another U. U S. S Steel iary lary The checks were accepted by John J. J OBrien O'Brien W WAA A A A. deputy deput administrator from Max D. D Howell How How- ell eU vice president and treas treasurer o ot of U. U S. S Steel Under the terms of sale U. U S S. Steel pledged to spend at least leas to convert Geneva from rom its wartime use of producing bat bat- steel and structural forms form to producing tons of ho hot rolled coils annually Conversion Con Job When the bid terms were announced announced announced an an- officials said the conversion conver caRver ion sion job would take from 1 15 months to two years Furnaces and coke batteries aready already al a- a ready have been in operation fo for tor some time and Wednesday plant plan officials announced the plate ml mm mill would go into production that afternoon afternoon afternoon aft aft- rolling rolling finished finished steel plates plate as it did during the war Eventually It is thought t th the e plant will vill produce tons o of rolled steel stee products annually am and provide employment for per perSons sons sons directly directly and indirectly Rated the most modern steel stee plant in the world the huge in In In- was was' built bunt at ata a cost o of f during the war Its fate hung in the balan balance as U. U S S. S Attorney General T Tom om Clark Clar weighed the U. U S. S Steel bid for a possible monopoly threat alter after YA VA WAA A A. had accepted the bid The Th question was was settled settled June 18 when I Clark ruled In favor of oC U. U S. S Steel I |