The sun., 1901-03-17
ROCKEFELLER MINES IN. +
q. 3. STEEL CORPORA TTON TO INCLUDE
LAKE SUPERIOR CONSOLIDATED.
Owns the Duluth and Missabs Railroad and
Il Capitalized at s3O. 200. 900 Stock Is
Above Par Steel and wire Dividend ON
Stock That Comes In Goes to q. y. Steel.

II was announced by J. p. Morgan a Co.
yesterday that all the interests Of John d.
Rockefeller in the iron business. including
mines. railways and Lake transportation
lines. are to 20 into the United States Steel
Corporation. These interests include the
Lake Superior Consolidated Iron Mines.
which concern has capital stock Of sSo. .oo0.ooo
of which $40. ss7. AS 81 il outstanding. 1T was
Incorporated under the laws Of New Jersey
In 1893 TO acquire and operate iron mines in the
Mesaba range. Minnesota. The company owns
extensive properties In this region and leases
some OF its mines to the Carnegie Steel Com
psny and other large steel manufacturers.
II owns the Duluth. Missabe and Northern
hallway. extending from Duluth to Iron
Mountain. MINI and embracing about 1870
miles OF road
The Lake Superior Consolidated Iron Mines
has no direct mortgage indebtedness OF its
own, but the Duluth, Missabe and Northern
Railway has a bonded debt consisting or
Sl,iOO.OO0 first MORTGAGE q per cent. bonds
due In 1922, 81 rs, 900 consolidated mortgage
per cent bonds due in 1929. and s2.94a.OW
second mortgage per cent bonds que IN
1915, The company's local office is In the
Standard Oh Building at 20 Broadway ana
its officer and directors are 7 Gates.
President. George ID Rogers, Nlce-President'
T.
J ID Rockefeller, Jr. F. V. Carey and l.. J.
The stock of the company is quoted in tho
Boston market and II has also been dealt
in in the curb market here. Yesterday on
the curb 100 shares sold at sos q share ana
twenty-six shares sold at slO4 These prices
represented a large advance over the quota
tiOns Of several weeks ago or before the Dig
steel deal was announced. 80
The following prepared interview with
Max Pam, general counsel OF The American
u N "a
the Steel and Wire cornpanys office yes
terdav
o some doubt seems to exist "a TO the
position Of the holders OF the common STOCK
Of the American Steel and Wire Company
with reference 10 the dividend declared
thereon on March II Can You give any state
IN meo' any on ,nS .ISndns On hg bec The
dividend, a. Won will note, l. payable tn the
holders Il the stock Of record March ~ VINO
ever is of record on that date Will receive the
O. How will they apply the dividends on
the stocks which were deposited WIN Ih'
Guaranty Trust Company under the pro-
posal Of J. p Morgan COZ \ Whatever
common stocks we're deposited cat ~ with
them the dividend ot u. per cent. declared
March II. which means ,oi course. thaI upoit
denomination of the nited States Steel
CoTporation enterprise. the divide nj goes
To that corporation for the b"nett OF It's stock
holders
d How about the stockholders who 90 not
deposit their stock? How will they be az
fected? OF course the Stockholders can
not blow hot and cold at the same time hey
must either 60 In or stay out J J. MOT
gan a CO.. circular expressly states that
ali dividends declared after March 20 with
the stock, therefore no p"rson can exchange
his holdings for the new stock of the nit"d
States Steel Corporation without eiying up
the dividend which was declared March u
and / am sure there will he no deviation from
This nile, as all stockholders in all companies
are treated alike.
d What is your opinion rs 10 how the
stockholders who want 10 collect thls divi-
dend and therefore do not deposit their
stock will fare in the future II Is very
evident they. cannot participate IN the new
company unless they deposit their stock;
together with rights to dividend declared
March ~ Should they delay until after
the dividend is paid ! am quite sure that y
their stock was then accepted ~ all II would
only be upon payment of the dividend which
they had previously collected There is n"
question about this Ot course, what the
future policy Of the Steel and Wire Company
will be as to any further dividends on the
common stock, no one could venture 10 pre-
OF