The sun., 1901-02-26
STEEL PAPERS FILED.
Incorporation In New Jersey Of the
az Morgan-Carnegie Combine.
CAPITALIZATION rs $4,000,
Provision That stocks May he In
creased mt Any Time and That
Company In Not to own
Railroad In New Jersey.

corporation Of the United States Steel
corporation have been filed at Trenton
and at the office of the county clerk of
Hudson county, N. j., in Jersey City.
This concern is the gigantic Morgan
new corporation in New Jersey is the
Hudson Trust company of 81 York
| street, Hoboken.
The objects of the company as set
forth at length in the Incorporation pa
| pers are to manufacture iron, steel,
manganese, coke, copper, lumber and
other materials and all or any articles
| consisting or partly consisting of iron,
| steel, copper, wood or other material,
or all or any products thereof; to ac-
quire. own, lease, occupy, use or de-
velop any land containing coal, iron,
manganese, 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 oi
other minerals of temper; to buy or
sell such ores or the products thereof;
to construct buildings, bridges, machin-
cry, ships, boats, engines, cars and 9th
er equipments, railroads, docks, ship
elevators, waterworks, gas works, cleo
trio works, viaducts, aqueducts, ca
| nails and other waterways and other
means Of transportations or to sell or
dispose of the same or to maintain or
operate the same. But the corporation
shall not own a railroad or canal in the
state Of New Jersey.
The Company's Rights.
The corporation shall also have the
right to apply for, obtain, acquire and
dispose of trademarks and trade names
used in connection with the business
of the company; also the right TO ac-
quire the stock, bonds or other obliga-
tions of any corporation engaged 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.
The authorized capital stock is di
vided into 10 shares of preferred
amounting to $1,500, and Is shares OF
common stock, amounting to like
| sum II Iolil tllne W tiluc illc DltleIIti
and common stock may be increased
according to law, and may be issued in
such amounts and proportions as ma.
be determined by the directors Of ths
company. The preferred stock shal
be entitled to a yearly dividend of
per cent the dividends to be cumula
tive After the dividends ON the pre-
ferred stock shall have been paid tn,
directors may declare dividends on til,
common stock.
The number of directors, If NOR,
D than three, shall be some multiple o
three. The number may be increased
according to the bylaws. The duration
Of the corporation is perpetual
The incolporators are Charles c
Cluff, William J. Curtis and Charlie
MacVeagh. The papers give few de
I tails, but 1t is understood that the com
u bine includes the Carnegie company
I the American Steel and Wire compa
ny, the American Steel Hoop compa
ny, the National Tube company, tn
: American Sheet Steel company, tn
American Tin Plate company, the Ma
u tional Steel company and the Fedora
! Steel company.
Activity on Change.
, The crop Of rulnors, surmises an,
!, gossip regarding the supposed detail
i of the great steel merger, which wer
), accumulated in the hotel lobbies an,
places Of amusement up town durin
- the three days interval while the ster
:, exchange was closed, had its fruit i
Il some wild and sensational happening
i. in the stock market. The SOLDERING il
). fluence of market quotations dcmandin
:. cash payments had the effect Of quiet
II ing the excitement before the frs
IN hour had expired,
II The fact then emerged that, so far q
y authoritative knowledge and inform:
tion went, the public We're almost e,
q. actly where they were on THURSDAY
:. when the Stock Exchange closed. Th
current ruissrs professed to give d,
tails of the terms of exchange for tn
existing steel stocks into those Of til
new corporation. These rumors plac
H. the valuation very high, in some case
more than double the existing price
A. for the stocks.
n. The excited bidding of the specul;
n. tors at the opening on the basis {
al these rumors carried tin plate up /
points on small transactions, America
~ Hoop 5, Federal Steel preferred 81
o. Steel and Wire preferred 5M and othe
er members Of the group from to over
is points. The way in which stocks cam
out at the higher prices caused I'll
IN spectators to pause in their headlon
lg rush. and prices promptly fell bacl
OF and the market became quiet
il. The belief gained currency that d
tails of valuation and agreement n
&c main yet to be fixed. The waiting pul
lie were quick to resign themselves
the conviction that further wait f,
the detail of the much expected al
al nouncement must be faced.
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III The Crops of Russia.