[Newspaper]
Publication: The Kentucky Post
Covington, KY, United States
no. 3147, p. 1, col. 6
GOBBLED UP
FATE OF TIN CAN FACTORY
OF COVINGTON.
NEW TRUST WILL ABSORB
LOCAL INDUSTRY.
PART OF GREAT SCHEME
Promoters Will Control Output of
Industrial Metals.
The J. M. Rude Can Company, of Covington, will shortly be absorbed by a gigantic new trust, which is to be completed on or about the last of March, and which will control the principal tin can factories in the United States.
Options have been secured on the plant, and will doubtless be enforced, as the new company will have a capitalization of about $70,000,000.
It is being promoted by Judge Moore, of Chicago, who has engineered several trusts, and will then have control of the principal industrial metals from the mines to the consumer.
The National Steel Company is the trust which mines the metals; it disposes of its products to the American Sheet Steel Company, which is the trust that transforms the billets of steel into sheets for manufacturing purposes. These sheets are then to be transferred to the new trust and made into all sorts of cans.
It is problematical whether the trust will prove a good thing for Covington, although the chances are that the local plant will be enlarged.