The evening world. Newspaper, September 29, 1922, Page 6

STEL MERCER 5 ABANDONED Republic, Midvale and In- land Find Financing Too Hard. Official announcement was made contemplated merger of the Republic Iron & the Midvale Steel & Ordnance Co. and the Inland Steel Company into a new $211,000,000 in- dep Steel Co., Jent steel manufacturing com- pany to be known as the North Amer- fcan Steel Company The impossibility of financing the proposed consolidation, arising from the questions raised by the Federal Trade Commission and from the long delay that would be occasioned by threshing out their legal aspects, was assigned as the reagon for the de- cision, reached yesterday after a ses- sion of the interested parties in the offices of Kuhn, Loeb & Co., bankers for the proposed merger. The announcement, which came af- ter the close of the stock market, oc- casioned considerable surprise in Wall Street, as only lest Monday official reports had denied the rumored aban, THREE CORNERED Pete yesterday of the abandonment of the|- THE EVENING WORLD, FRIDAY, SEPTEMBER 29, 1922, urfler the authorization of W. E. Corey, Chalrman of the Board of Di- rectors of the Midvale Steel & Ord- nance Co.; John A. Topping, Chatr- man of the Republic Iron & Steel Co., and L. BE, Block, Chairman of the Inland Steel Company: “At & meeing held to-day the en- tire situation arising trom the action of the Federal Trade Commission was graph of Woodrow Wilson Starting for Drive Yesterday interest do not deem it ad- | te to proceed. ding such final determination questions involved the financ ing of the proposed merger, would not parties In 6 books and records which were c scrutiny of the ts in every way. ce whatsoever to illegal acts or ing the trial the learned counsel fc the plaintiffs conceded this ¢x to Hadert and the Wilkes Casey and I find the evidence does not “p of the be possible, and It {s not feasible t , which re-}port these charges against any ¢ — proceed with the merger without suc! is or personal|the defendants, Honest men when EP financing.” . he defendants}they are elected to public offic ‘The collapse of the merger project what is considered fficials of the con- marks the fina ed ¢ chapter in protracted negotiation is- | doing which at their start last spring in = volved not only the three concern ) BONWIT TELLER &CO Fhe Spocnally Shop of Orysnatons FIFTH AVENUE aT 36™ STREET but also the Lackawann: ‘o., the Youngstown Shoet « the Brier Hill Steel Co. nd Tube Co, of America rawal of Young: a comparative the discussions wa ly early stage of fe d ie oy the Steel Corporation, making ompany with assets of more tha! :000,000 and with 11 per cent. « the steel producing capacity of th: States. Subsequently Steel & Yo. of America and Brier Hi! withdrew from the conference tabl: elem CITY OFFICIALS OF NEW ROCHELLE FULLY EXONERATEL Justice Morschauser Ren ders Judgment in Case Charging Them With Crookedness. » Court Justice Morschauser n field at White Plains letely The Smartest Fashion in Feminine Sweaters Is Masculine! MANNISH COAT-SWEATERS 12.50 » 45.00 HE. coat-sweater, collarless and straight of line, is the sports fashion of the autumn resorts—and Bonwit Teller & Co. show how a masculine fashion can have a touch of origin- in a to-day exonerates Mayor Harry Scott and many other officials of the City of New Rochelle. Patrick Grace, a taxpayer of New Rochelle, in bitter Mtigation; charged these officials with working tn league with contracting companies on certain contracts for city streets without offering the same at public bidding. Justice Morschauser says in his de- cision: “The city’s records of every kind bearing upon the case were produced and examined, and tree acess was given to the contractors ality if it is meant for a feminine wearer. IN CASHMERE, ALPACA OR MOHAIR. Colors— Camel, Fawn or Combinations SWEATERS—Main Floor honest acts are not justified. Dur- or of should be protected against unfound- rges of illegal acts and wrong- stances it is not possible to proceed with the proposed merger of the Mid- vale Steel & Ordnance Co,, the In- land Steel Co, and the Republic Iron & Steel Co “While all of the eminent counsel who have been consulted agree that the proposed merger would be legal in every respect and while its con- summation would not have restrained, but have intensified, competition the final determination of the questions donment uf. the consolidation plans. reviewed and the conclusion was The following statement was issued reached that under éxisting circum- involved would delay the carrying out of the plan to such an extent that the =n MM BONWIT TELLER & CO. The Specialty Shop FIFTH AVENUE a aie STREET. Present in Little Editions De bie the F Youthful Chapters in the Mode of Soit-Erjumes 88.00. to 350.00 BONWIT TELLER & CO. have made a gracious thing of the suite costume for the jeune fille, stressing the importance of the frock as well as the coat, introducing many ingenious new treatments in both. THE SILHOUETTE — The THE TREATMENTS — Fur short bloused coat, the bloused collars, cuffs and borders, gold coat with peplum, the straight » ° or silver thread scroll embroid- espn rogiaa coat, the short ery, Persian embroidery, coat. THE FURS—Caracul, mon- key, mole, wolf, kit fox, beaver, squirrel or badger. THE FABRICS — Marleen, veldyne, Cumberland home- spun, with bodices of satin or crepe silks. ' Note: Thee soartest interpretation of the suit-costume ts the frock with the separate jacket of moleskin or caracul. THE BERTHA FROCK 65.00 to 145.00 Inherited from the picturesque Venetian fashi . th bertha is the distinguishing touch by which pap Bas frock becomes at once new, youthful and charming. Bertha-Collars of Venise-patterned Lace, Net, Batiste or self fabrics on Frocks of Velvet or Flat Crepe. r] MISSES’ FASHIONS—14 to 18 Years—THIRD FLOOR Important for Saturday A New, Interesting Group of Misses’ Costume Tailleurs (coat-and-frock; the coats fur-collared) specially priced at $78.00 Veldyne and marleen are the materials used for these.modish suits. The furs are squirrel, beaver and fox Gale on the Second Floor) A Special Sale of 7,000 Pairs of Women’s Chamois Lisle Gloves (Strap-wrist model) In pongee, covert, beaver, gray and white offering exceptional value at 75c. per pair (Sale on the First Floor) HMadigon Abenue- Filth Avenue, Mew Pork Thirtyp-fourth Street Thirty-fitth Street Jranklin Simon a Co, A Store of Individual Shops i FIFTH AVENUE, 37th and 38th STS. OF SPECIAL INTEREST SATURDAY For Mademoiselle’s (14 t 20 Yrs.) Immediate Wearing Copy OF THE ORIGINAL JENNY OVERCOAT | IN CAMEL’S HAIR CLOTH Mave OF New Hic PiLep Camet’s Hair CLOTH. WitH NEw STITCHING IN SMART BLOCK PLaIDs. SHORT RAGLAN SHOULDERS TYPICAL OF JENNY. SILK LINED AND IINTERLINED. Ln polo tan, Thibetan or beaver color Misses’ Coar SHor—Second Floor Franklin Simon 8 Co. A Store of Individual Shops FIFTH AVENUE, 37th and 38th STS. is OF SPECIAL INTEREST SATURDAY For Misses and Small Women THE VOGUE OF THE DINNER OR EVENING FROCKS OF CHIFFON VELVET with Berthas of lace in Pointe de Venise pattern or metal lace. AFTERNOON OR DAYTIME FROCKS OF Crepe RENEE, CREPE SATIN OR CHIFFON VELVET with deep shoulder Berthas of crépe chiffon, net and lace or of the same fabric as the frock. In brown, navy blue or black ; also evening shades. Misses’ Dress SHoP—Second Floor It Makes Little Difference What You Need— _.,+ A World “Want” Ad, Will Go and Find Ik + +