biography
| name: |
Reid, Daniel G(ray)
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| sex:
| male
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| lived:
| (1858–1925)
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| biography:
| Financier, born in Richmond, Indiana, USA. He began as a clerk in the Second National Bank of Richmond and was vice-president by 1895. In 1891 he and friend William B Leeds, taking advantage of the high tax on imported tin, bought a small tin-plate mill in Elwood, IL, forming the American Tin Plate Co of Illinois with Reid as president. They acquired a second company in 1898 and changed their name to the American Tin Plate Co. They also organized subsidiaries – the National Steel Co, the American Sheet Steel Co, the American Steel and Wire Hoop Co. In 1901 they sold the entire organization to J P Morgan, who was forming US Steel, for $140 million. Reid moved to New York City and acquired controlling interest in the American Can Corp, where he chaired the board until 1923. His other interests included railroads and the $50 million Tobacco Products Co, which he formed (1912) with Henry Clay Frick and others, and served as president. |
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