New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-02-25
CAPITAL STOCK INCREASED.
THAT OF THE NATIONAL STEEL COMPANY
RAISED FROM 100000 TO s5s.00OOOo.

rba nreliroInary certificate Of Incorporation OF
tbe National Steel Company. with a nominal captai
Of 100000 was flied Mt Trenton on Feoruar! o.
James b Dill the well-kncwn corporation lawyer
of this city, who one OF the corpora'ors' "i'"
asked at the time for details regarding the lie"
company would say merely that a combination %
certain iron and tinplate interests had been el-
facted through ex-Judge William II. Moore. OF Chl-
cago and that the fling of the certificate theh was
preliminary to the fling Of certificate OF cor
poration with larger capital The latter ceruhca'e
was fled Yesterday afternoon, under the laws ol
NIav-rersev the authorized capital or the Ma
tIonal Steel Company being placed under It's terms
al 20 Oo 900 OF which S27 COO 200 Is per cent cumu
latve preferred stock and $4,000 Is common stocA
The rights OF the holders of the preferred shares
are more carefully guarded even thah IN 'he c'ai
ter OF the American Tin Plate Company WIN
which corporation the National steer ComPaH! -
said TO be closely associated the charter providing
hat no mortgage. charge or lien shall be created
by the corporation which shall rank superior OF
equal 10 the preferred stock. and that the corpora
ton shall not be at liberty beyond the reservation
% a surplus fund for the carrying on Of the ous-
ness. TO lay aside or withhold any OF the income
of the company until after the payment Of the dlV-
S - ,5s mon he preferred and common stock.
The objects stated IN the charter are oriehy' 70
r,snufaciure huy and sell steel and iron and all
kindred PRODUCTS. and to mine. manufacture, pre-
pare for market and sell the same Inc powers G
wide The powers Of the officers and directors are
strictly limited TO the conduct OF the or1ln n
business affairs. All vacancies are TO De IHe1 ~
the stockholders AL increase in ne Board OF R,
rectors is controlled by the stockholders. Whho
nominate the new directors. The salaries oil me
officers Of the company are also deteIHhen uy VIZ
stockholders and in general the power 10 oonlIoss
the fixed charges OF the company lies in the vote o.
a majority Of the stock 800, -. VII,
The corporators are James B. D OF y, y ~ IGi
Citv counsel for the company; Samuel n ft.nuIet
~ Danburv Conn who is president Of tho Dan
bury National Bank and Frederick W; GarVln' o.
NeV,-York Some OF the companies included N tne
National Steel Company are the Ohio Steel com
pany Youngstown. Ohio. the Shenango N9ley
Steel Company. Newcastle, Penn; The Bellalre
steel Company. Belaire. Ohio; the H.tna-S .an l
Steel COMPANY Bridgewater Ohio. ana me AIHs'
Gilbert and Warner companies. Columbus ono. +,
A member Of a well-knOwn mercantile hrn N
Newly rk largely Interested in the iron ana Sc
business. while he declined 10 be Guo,eG az an 80
thOrity said yesterday that IN his opinion mere
would in time be several com bna tons OF the IRON
and steel interests OF the country. lie asserted
positively that there no friction 6etweein me
Federal Steel Company the American steel ana
Wire Company the American Tin Plate COMPANY
the National Tin Plate and stamped ware con-
panv and the property commonly known as tAe
Carnegie interests and added that there had been
in progress in Chicago IN the last Few days con-
ference Of the men who control these interests