United States Shipbuilding Company 1902

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Beautifully engraved certificate from the United States Shipbuilding Company issued in 1902. This historic document was printed by the American Banknote Company and has an ornate border around it. This item is hand signed by the Company's President and is over 100 years old. On April 17, 1899, the directors of the Bethlehem Iron Co. formed the Bethlehem Steel Company, a holding company, which immediately leased the properties of the Bethlehem Iron Company. In 1901 an offer to purchase control of Bethlehem Steel Company was made by a British conglomerate. The offer was countered by Charles Schwab, president of United States Steel Corporation his offer was accepted by the shareholders. On August 15, 1901 the Bethlehem Iron Company ceased to exist and Bethlehem Steel Company took its place. Schwab merged Bethlehem Steel Company with the United States Shipbuilding Company. The shipbuilding company failed and after many lawsuits and a congressional investigation, Schwab organized the Bethlehem Steel Corporation.