During the previous year, however, Wick and Campbell combined resources with other local investors who wanted to maintain significant levels of local ownership within the city's manufacturing sector. The group established the Youngstown Iron Sheet and Tube Company with $600,000 in capital. Wick, who emerged as the steel company's first president in 1900, appointed Campbell as secretary. The word "Iron" was dropped from the company's name in 1905. Although the company's focus began with sheet and tube, it eventually became one of the nation's most important steel producers with a varied product line.