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Youngstown Sheet and Tube Company-Lykes Corporation Merger Letter

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Title	Youngstown Sheet and Tube Company-Lykes Corporation Merger Letter
Subject	Business and Labor Steel industry Consolidation and merger of corporations
Place	Youngstown (Ohio) Mahoning County (Ohio)
Description	Robert Williams, president of Youngstown Sheet and Tube (YS & T), sent a two-page letter to company stockholders in 1969. The letter informs stockholders that the YS & T board approved a merger with Lykes Corporation to form the Lykes-Youngstown Corporation. Williams expresses his belief that the merger is beneficial in terms of future diversification and outlines the financial consequences to shareholders. As the merger was contingent upon approval by a two-thirds vote at the shareholders meetings, Williams urged the recipients to vote for adoption of the merger and return the enclosed proxy. Also included is a one-page notice of the annual meeting scheduled for April 22, 1969. These documents measure approximately 8.5" by 11" (21.59 by 27.94 cm). In November 1900, a group of 55 Youngstown citizens, led by James A. Campbell, raised $600,000 in capital to create the Youngstown Iron Sheet and Tube Company. Land was purchased along the Mahoning River approximately three miles east of downtown. In 1902, the mill opened for production. Spectacular growth marked the company's second decade, some of it spurred by the demand for steel caused by World War I. In 1923, YS & T purchased the Brier Hill Steel Company of Youngstown and the Steel and Tube Company of America of East Chicago. During the 1930s the company survived the Great Depression and the 1937 "Little Steel" strike to emerge as a leading steel producer. In the 1960s, YS & T began to experience a decline. The company merged with the Lykes Corporation in 1969 and LTV Corporation in 1979, at which time all Youngstown operations were phased out.
Creator	Williams, Robert
Date of Original	September 04, 1969
Collection	Libert-Youngstown Sheet & Tube Company-Lykes Collection
Source	Unpublished material (archives/manuscripts) Collection #176
Submitting Institution	Mahoning Valley Historical Society
Type	Text
Format	manuscripts

Title	Om1202_1826341_001
Rights	For rights and reproduction requests, go to the Ohio Historical Society's Audiovisual and Graphic Reproduction Services page at http://www.ohiohistory.org/resource/audiovis/photodup.html; Online access is provided for research purposes only. For rights and reproduction requests or more information, go to http://www.ohiohistory.org/images/information
File Name	Om1202_1826341_001.tif
Image Height	4370
Image Width	3144
File Size	1792.474 KB

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Youngstown Sheet and Tube Company-Lykes Corporation Merger Letter

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