Show STEEL COSTS SUM BETHLEHEM INTERESTS ABSORB properties OF lackawanna engineered BY BANKERS prominent directors Dl rector of selling company to do bo represented on new board of the con soll soli dated conce concern n new york tho lacka warina atee steel merger wits approved tuesday by directors of tho the two companies foisting moi sting hero here nt at the offices or of kuhn loeb loci coq co bank bankers era ong tho consolidation Ace according to tile tonni of the mor mer eer its as state by Ii aoi taylor chair amrin of the baiel I alvanna boari of directors diree lios agreed to assume nil debts arid obligations of tile lie aach I acla s wanna steel company compi iny tho ali purchase price ila taylor vior stated it Is I resident grace of the flip steel company announced lila company plans to spend from to on the na properties in his announcement of tiie tie merger tr arnce race declared taylor annl ani other important interests associated with the direction of tile consolidated properties will lio be liberally represented on the bethlehem baird lioi ird bethlehem will pay for the lacka wanna properties in 7 per cent pro pre fereal stock and clasa B D common coin nion stock giving nn nil nino tint of the two wo classes equal nt at pur par value to tn the par value a 0 outstanding banck forty per cent of the pi armont will he be made in 7 per cent ered d per cint in chist class H B common com nion |