Identity area
Type of entity
Authorized form of name
Parallel form(s) of name
Standardized form(s) of name according to other rules
Other form(s) of name
Identifiers for corporate bodies
Description area
Dates of existence
History
The Algoma Consolidated Corporation was incorporated in 1931 to replale the Lake Superior Corporation as the holding company for the companies which had been part of the industrial complex developed in Sault Ste. Marie by Francis H. Clergue. The Scheme of Arrangement which became operational on June 15, 1931 was very complex. Through a series of agreements the Lake Superior Corporation lost all of its interests in the Algoma Central and Hudson Bay Railway and on third of its assets in all the other subsidiary companies and the shareholders of the Lake Superior Corporation acquired two thirds of the stock of the Algoma Consolidated Corporation. The Scheme of Arrangement failed when the Lake Superior Corporation's main asset, the Algoma Steel Corporation went into receivorship in 1932. In 1934, Sir James Dunn enlarged his control over the Algoma Steel Corporation and reorganized the company with the incorporation of Algoma Steel Corporation (1934). In 1936 Sir James Dunn moved to purchase any outstanding Lake Superior Corporation bonds and then wound up both the Lake Superior Corporation and the Algoma Consolidated Corporation in 1939.