West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1901-04-25
THE u. S. STEEL
COMP ANY.
The Extent and Scope Of its Charter
as Granted by the State of
New Jersey.
An Able and Well Written Article Call.
Ing Attention TO This Gigantic
Cooperation.

/
apply. The capital of this concern is the
paltry sum OF q 600, bat 1t is endowed with
the right to issue an unlimited amount ol
bonds and stock TO enable il 10 monopoIire
all our productions aud through the con
troll OF our means OF transportation our
commerce also.
As only few OF our newspapers have pub
J liShed the act of Incorporation of this
Trust and as II might be useful for tho
public to know In what kind of enterprises
this concern proposes TO embark. I insert
here that part OF their act of incorporation
which deals with that subject:
"Ihird-The objects for which the cor.
| poration is formed are 70 manufacture iron,
steel manganese, coke copper lumber
aud other materials, aud all or any articles
consisting or partly consisting of iron.
steel, copper, wood or other materials. and
| all OF any products thereof
TO ACQUIRE. OWN. LEASE. OCCUpY.
USE OR DEVELOP ANY LANDS contain.
ing coal or iron. manganese stone or other
ores, or oil, and any woodlands or other
lands Tor any purpose of the company.
10 mine or otherwise TO extract or re.
move coal, ores, stone and other minerals
and lumber from any lands owned, ac.
| CURED, leased or occupied by the company
or from any other lands.
To buy and sell or otherwise to deal or TO
traffic in iron, steel. manganese copper
stone. ores. coal. coke. wood lumber and
other materials and any ofsthese products
thereof and any article consisting OF partly
consisting thereof
To construct bridges buildings. ma.
chinery, ships. boats engines cars and
other equipment, railroads. docks. eleva.
tors. water works. gas works and electric
works, viaducts. aqueducts. canals and
other waterways aud other means of trans.
portation, and TO sell the same or other.
wise To dispose thereof or 10 maintain and
operate the same except that the company
shall NOT maintain or operate any railroad
or canal ia the State OF New Jersey
10 apply Tor, obtain register purchase
tease or otherwise TO acquire and 20 hold
use. own, operate and introduce ard 10
sell. assign or otherwise to dispose II any
trademarks, trade names, patents, inVcn-
lions. improvements and processes used in
connection with or secured under letters
patent Of the United States or elsewhere or
otherwise; and TO use. exercise. develop
grant aud otherwise turn TO account any
such trademarks. patents, licenses pro-
cesses and the Ike or any such property
or rights.
To engage in any other manufacturing,
mining. construction or transportation
business OF any kind or chafactcr whatso.
ever. and TO that end to acquire, hold, own
and dispose OF any and all property. assets
stocks. bonds and rights ~ any and every
kind BUT NOT TO ENGAGE IN ANY
BUSIN ESS HEREUNDER WHO II
SHALL REQUIRE THE EXERCISE OF
THE RIGHT OF EMINENT DOMAIN
WITHIN THE STATE or NEW JERSEY
10 acquire by purchase. subscription or
otherwise. and TO hold or dispose Of stocks
bonds or any other obligation OF any cor.
poration formed for or then or heretofore
engaged IN or pursuing any one or more Of
the kinds OF business. purposes objects or
operations above Indicated. or owning or
holding any property OF any kind herein
mentioned. or of any corporation owning or
holding the stocks or the Obligations Of any
such corporation.
10 hold for Investment. or otherwise to
use, sell or dispose OF any stock bonds or
other obligations OF any such other corpo.
| ration to aid In any manner any corpora.
! ton whose stocks bonds or other obiga.
| tons are held or are In any manner guaran-
4 teed by the company. and TO do any other
! acts or things Tor the preservation protcC.
| ton. Improvement or enhancement Of the
| value OF any such stock bonds or other
| obligation, or to do any acts or things dcs.
| ignated Tor any such purpose. and while
! owner OF any such stocks. bonds or other
Obligations. to exercise all the rights pow
/ ers and privileges Of ownership thereof.
aud TO exercise any and all voting power
| thereof
| IL can be seen from this document that
there exists no industry from making a
baby diaper to the building OF railroads.
canals. machinery and steamships. or buy.
ing controlling interest In existing ones
IN which they do not propose TO embark
and monopolize they propose to buy trade.
marks and names also DO they propose 10
buy trademarks 20 use them for selling as
their limitations DO they propose to buy
names TO crter a literary carocr2 To buy
the name of the New York Herald. and
that OF other influential newspapers. might
be profitable, because under their names
they could convince us. or al least attempt
to do so. that mOnopolies cheaper produce
to customers when competition only raises
prices and causes III feeling between com
petitors
The question arises. VIII they have the
money TO do all they propose We can
only judge from what they already have
and what they can get The Philadelphia
Press. of tho 3rd OF March. tells US that up
TO the evening Of the 2d OF March their
modest capital Of 5000. cxisisnt on the
I asth OF February, has been increased to
fL1S4.ooo, 600. that is az daily ratio Of tie7.
332.683 SO. n they want TO increase IL al
the same daily ratio during one year.
counting only 800 working days 10 it their
/ capital on the 81 Of March. rcos will be
Fs7. ga. .19z. 600 The limit Of their capital
only depends upon the amount Of paper
procurable and ihc capacity Of printing
presses TO print. There IS neither ans
doubt about their generosity The New
York Herald Of February %. r9oi informs
us on tho report Of trustworthy banter
that J j. Morgan s. CO. have received Tor
services rendered TO the u s steel Co.
ef2 500. 600 stock. equivalent 10 s7.sfs 6as
cash. The pittsburg Dispatch Of a later
I date informs us that Mr. Schwab IS to bc tho
/ pfcsidcnt Of said company at yearly
salary of one million dollars
This so.cailed u. s. steel Co. has select.
cd the most propitious time TO get their
charter. They have nearly ten months ln
which 20 oxiend their benevolent enter.
prise and 60 prepare aud cmciont lobby bo.
fore next Congress meets In the mean.
time they do not propose 20 remain idle
they have already secured the property oi
Mr.. Rockefeller in The Lake region con.
sisung of 6fty iron orc mines of yearly
/ capacity Of ~ oooooo tons. rso steamers
/ and vessels of the same. carrying capacity
yearly besides some minor railroads alto.
gether representing value Of $50 900. 900.
The next acquisition Of this Trust was tho
American Bridge CO., a combination Of all
our bridge building companies. their CAPT
tai consisting Of f53ooo. 900. We are also
Informed that the Pennsylvania Railroad
has bought controlling interest in the
Baltimore and Ohio railroad. and Is now