In the beginning of 20th century The Amalgamated Silk Corporation united American silk factories from the mid-Atlantic region. It had headquarters at 2, Park Avenue, New York. Construction of this ambitious building was completed in 1927. This was the heyday of the United States corporations. The Amalgamated Silk Corporation's neighbors were Bloomsburg Silk Mill and several dry goods and textiles merchants, including Mills & Gibb (lace and linen); Peierle, Buhler & Co. (dresses), Robert Reis & Co. (underwear) and the United States Leather Company. But silk production on the east coast in states like Pennsylvania and New Jersey, two of the leading American silk producers at the turn of the 20th century, already began to decline. Silk mills began to move to the southern states – the reasons included cheaper labor costs, the demands for silk decreased with introduction of other materials such as nylon and rayon, and the rising cost of raw materials imported from Japan. The Great Depression put an end to the US silk industry. In June 1930 the Amalgamated Silk Corporation, operating 14 factories with assets of $5,500,000, was unable to liquidate due to the depression and was forced to file a petition for bankruptcy. In 1938 the American Viscose Corporation has opened a new fabric development department, under the direction of Pierre Sillan, who has been associated with the Amalgamated Silk Corporation.