The St. Louis Republic., 1901-02-26
MOrgan's Steel Trust Gets a Char
ter, With Authority to In
crease Its Stock.
ITS DURATION IS PERPETUAL.
Action Was fastened to TAX.
Advantage of New Jersey
l.aws-Effect in Wall
Street.

New York Feb. s5.-.Articles III iaeorpora-
tion of the Crited States Steel Corporation
we,e filed to-day at the office of the Cour-
ty Clerk of Hudson County. New Jersey.
This concern is the gigantic Aorgan-Car-
neeie combine. Tie agent OF the new cor
porntion in New Jersey is the Hudson Trust
Company OF No. 81 York street. Hoboken.
The objects of the corporation are TO
manufacture steel. iron. copper and other
nateriais, and 10 own occupy and develop
mines. ard to own means OF transportation.
The provision is made that the corporation
shall not own Il railroad in the State of
New jersey.
The ilcor9crliors are Charles G. Cluh,
William ]. Curtis and Charles McVeagh.
The total authorized capital stock is s3oco.
divided into thirty shares of 800 each The
provision Is made that the stocks may be
increased at any time.
Only Thirty shares of stock.
The companys capital is divided equally
into per cent cumulative preferred and
common stock The objects of the COM
pany. as set forth at length in the incor-
poration papers. are to manufacture iron.
steel. manganese, coke. copper. lumber and
other materials AMI all or any articles con-
sisting or partly consisting OF iron. steel.
copper wood or other material, or all or
any products thereof: to acquire. own. lease,
occupy. use or develop any land containing
ccal, iron. mar ganese. stone or other ores
or oil, and any woodland or other lands
with the purposes OF the company; to mine
or otherwise extract coal ores. stone or
other minerals of temper; to huy or sell
such ores or the products thereof: to con-
struct buildings. bridges. machinery. ships.
toats. engines. cars or other equipments:
railroads. docks. ship elevators, water
works gas works. electric works viaducts
aaueducts. canals or other waterways and
means OF transportation. or to sell or dis
pose OF the same, or To maintain or operate
the same. Hut the corporation shall not
own railroad or canal i'm the State of New
Jersey.
The corporation shall also have the right
To apply fcr. obtain acquire or dispose of
trademarks. trade names used In connec-
ton with the business of the company. also
the right to acquire the stock bonds or
other obligations OF any corporation en-
gagged in the same line of business. The
company may conduct business in the
United States and other countries and
may keep books in other States. except
such as are required by law to be kept in
the State of New Jersey.
stock May BE Increased.
From time 10 time the preferred and conf
mon stock may be Increased according to
law. and issued I'm such amounts and pro-
portions as may he determined by the drec-
tors Of the company. The preferred stock
shall be entitled 10 yearly dividend of
4 per cent: the dividends TO be cumulative
After the dividends ON the preferred stock
shall have been paid the directors may de-
clare dividends on the common stock.
The number Of directors. IL more than
three. shall be some multiple OF three
The number may be increased according to
the bylaws. The duration of the corpora
tion is perpetual.
The 5000 capitalization of the United
States Steel Corporation excited little COM
ment In Wall street. as IT was generally
understood that the promoters had deemed
ii precautionary measure to file its cor
pcration papers at this time without re-
gard to the amount of capital. 80 as to in
sure the validity Of its title.
Another conference OF all those inter-
ested in the corporation took place at ].
Pierpont Morgan's Office to-day