Detroit Times
September 19, 1910
TO BUILD NEW PLANT.
Great Lakes Engineering Works Will Have Branch in Ashtabula. The Union Trust Cos. is offering a big issue of the bonds of the Great Lakes Engineering Works, amounting to $750,006. The purpose of this issue is to provide funds for the construction of the big plant of the shipbuilding company in Ashtabula, Ohio. When this is completed the Great Lakes concern will have four plants, the others being In Ecorse, Detroit, and St. Clair.
Ashtabula Is rapidly assuming Importance as a lake port. Many of the freighters from the northern lakes are now using it as a terminal port, and for this it offers exceptional facilities. The tonnage of the port has Increas ed from 5,700,000 tons in 1900 to 13,178,000 in 1909. Both the Pennsylvania and the New York Central are spending large sums in improving their freight-handling facilities and there is every indication that Ashtabula will become one of the most important points on the lakes.
It is to take care of the increasing amount of repair work that will have to be done at Ashtabula as the port grows, that the great concern is locating a plant there. It is the practice of vessel men to have their ships repaired at the terminal ports. The bond issue will be the only one outstanding and hence it has behind it all the real estate and plants of the company, making it a very attractive security.
Maritime Moments and Memories 