150 years of the Shelton Works - page 20

 

 

Henry Hall Summers  1865-1945
Henry Hall Summers  1865-1945
Chairman of John Summers & Sons Ltd
1913-1945

Chairman of Shelton Iron, Steel & Coal Co Ltd
1920-1945

 

continuing development of the works
continuing development of the works

 

 

Just as the Allied forces sought to capture ground from the Kaiser, there were advances being made into the business world of North Staffordshire by Flintshire steelmakers John Summers and Sons Ltd.
Summers had no blastfurnaces of their own, and cast envious glances at Shelton, which has over capacity in ironmaking.

The war safely over, the Works was faced with a wage bill of 33,000 a week, which was three times what it had been before the hostilities; outstanding debts amounted to 172,000; and the John Summers company had been picking up shares on the open market. The next step was for them to approach the major shareholders with a cash offer of five shillings (25p) for each 1 Shelton share, as well as a cumulative preference share in Summers. The Shelton Annual General Meeting on March 27th 1920 saw the writing on the wall, and asked the Shotton-based Summers family to make the same offer to all shareholders. They did, and in November 1920 Shelton became a private company, with the Summers family holding most of the equity.