Moving Metal

a wealthy man at a time when the country was entering its darkest days economically. Neilan stayed on to operate his former company as a subsidiary for two years. In 1931, the Mason-Neilan Regulator Company was formed, and became a powerhouse in the industry nationwide. As the Depression gripped America, Neilan carefully invested in a number of enterprises, joining other petroleum industry veterans to form the oil well supply firm Tunnell, Wood & Neilan in 1937. Meanwhile he also bought small properties and warehouses in the San Francisco and Los Angeles areas, which he then leased to other businesses, claiming their assets and inventories as security in the event of default. To manage his somewhat complicated holdings, Neilan created N.J. Thomas & Company, its name a shuffled version of his own. Then, in 1938, Neilan was importuned by an old Irish Alley friend who owned Pacific States Steel, a mill in nearby Union City. “Tom, I need some money,” his friend said. “The banks won’t lend me anything. I can pay you back in six months.” Neilan agreed to help, but his friend disappointed him. Six months passed and Neilan did not receive a dime. To settle the debt, his friend offered to supply him with rebar instead. Neilan knew nothing of the industry, but he figured that he should be able to recoup his debt and then quickly exit the business. “If I’m going to get any money back, it’s going to have to be out of steel,” he concluded. Jumping into the volatile metals business truly was a daunting prospect, but Neilan sensed that big economic changes were on the horizon and that an opportunity for profit might present itself very shortly. By then the world was on the brink of World War II, with a resurgent Nazi Germany eyeing Europe and Imperial Japan

Tom Neilan was personable, always ready with a joke, and easily formed many friendships—which often became business alliances. He is pictured, center, in March 1940.

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