Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-02-25
e DEAL COMPLETED
;teel Combination Files Articles
Of Incorporation It Jer.
sey City.
Is To Be Known as the United
States Steel Corpor.
alton.
Small Capital Stock Can Be
Increased 10 Unlimited
Amount.

New York, Feb. 25.-Articles of incor-
poration of the United States Steel Cor
poration We're filed today in the office Of
the county clerk Of Hudson county,
New Jersey. This concern is the gigan-
tic Morgan Carnegie ombination. The
objects Of the corporation are to manu-
facture steel. iron, copper and other
materials; TO own, occupy and develop
mines and own means of transportation.
The incorpocators are Charles C. Cluff,
| William J. Curtis and Charles Nc
| Neash. the total authorized capital
stock is $4,000, divided into thirty shares
of slOO each. Provision is made that the
stocks may be increased at any time.
| The papers We're prepared by Staatson,
Jennings &, Russell of New York
The company's capital is divided
Iequally into1 per cent cumulative pre-
ferred and common stock. The objects
OF the company az set forth a length in
the Incorporation papers are 70 nianu-
facture. iron, steel, nlaganese, coke, eop-
per, lumber and other materials and all
or any articles consisting or partly con-
sisting OF iron, steel, copper, wood or
thereof: 10 acquire, own, lease, occupy.
use or develop any land containing coal.
iron, maeanese, stone. or other ores or
Foil, and any woodland or other lands
Within the purposes Of the company: to
mine or otherwise extract coal, ores
4 stone or other minerals of temper; to
I boy or sell such oresaor the products
4 thereof TO construct buildings bridges.
\ nactlinery, ships boats( engines cars
Or other equipments, railroads, docks,
ship elevators. water works. gas works.
s aeleetric works, viaducts. aaeducts ca
iaais Or other waterways and means OF
Il or to sell or dispose OF
ne same or to maintain or operate the
sdiise. But the corporation shall not
oMn railroad or canal in the state OF
s New Jersey
The corporation shall also have the
right 70 apply for. obtain, acquire and
s dlspose OF trademarks and trade names
used in connection with the BUSINESS Of
the company, also the right to acquire
the stock. bonds or other obligations OF
4 a ny corporation engaged in the same
a line OF business. The company may
e cendnct business in the United States
and other countries and may keep
Docks In other states. except such as
4 are required by law to be kept IN the
state of New Jersey. The authorized
capital stock is divided nso fifteen
I hares of preferred, amounting to sl,50O
q and fifteen shares of common stock.
amounting to like sum- From time
ITO time the preferred and common stock
may be Increased according to law and
i may be issued in such amounts and
Il proportions as may be determined by
the directors Of the company. The pre-
lferred stock shall be entitled to YEAR
ly dividend of per cent the dividends
4 to be cumulative. After the dividends
4 on the preferred stock shall have been
paid the directors may declare divi-
1 dends on the common stock.
Many Rumors on Exchange.
New York. Feb. 25-The crop Of ru.
mors. surmises and gossips regarding
the supposed details Of the great steel
4 inergsr. which We're accumulated IN the
Motel aobbies and places of amusement
a up town during the three days interval
Il while the stock exchange was closed,
had its fruit in some wild and sensa-
q tional happenings in the stock market
this morning. The SOLDERING influence
of market quotations demanding cash
4 payments had the effect of quieting the
! excitement before the first hour had ex-
Ispired 1t became known tnen that so
4 far as authoritative knowledge and in
formation went the public We're almost
4 exactly where they We're OH Thursday,
when the stock exchange closed. The
4 current runners sprofessed to give details
4 of the terms of exchange for the exist
ing steel stocks into those of the new
Il corporation. These rumors placed the
valuation very high, In some cases more
Il.
i stocks. The excited bidding of the spec
4 ulators at the opening, on the basis OF
7 these ru1nors. carried tin plate UP 15
4 points on small transactions: American
Il Hoop o; Federal Steel preferred AZ:
Steel and Wire preferred 5s4, and other
4 members of the group from to over 8
4 points The way in which stocks came
out at the higher prices caused the
spectators TO pause in their lleadlong
rush and prices promptly fell back and
i the market became quiet.
4 The only actual news which devel-
4 oped was the filing of the articles OF In
corporation of the United States Steel
Corporation in Jersey City. The nomi-
nal capitalization and the names of the
A lincorporators failed to throw any light
on the organization of the new COM
i pany. All authorities in the trade were
exceedingly reticent and no confirma-
ton could be secured of the food Of
rumors.
small capitalization Cuts No Figure.
4 New York. Feb 25.-The $1,000 capi-
talization of the United States Steel
\ Corporation excited little comment In
Wall street, as it was generally under
stood the promoters had deemed 1t az
precautionary measure to file Ito cor
4 poratio papers at this time without re-
gard to the amoun. of capital. 80 as to
insure the validity of the title. 1t is
lstated on good authority that the 90
Icalled terms of the deal heretofore
published are no more than guess work
4 The exact terms of the deal are not like
lly to be settled before the end Of the
week, il then.
Warren s. Phelps. president Of the IL
iinois Liquor Dealers Association, died
lat Chicago from Bright's diseaae. fFt0
4 f-t-a a.