River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1901-02-28
STEEL COMBINE EFFECTED.
Papers of Incorporation of the Gi-
gantic Trust Filed at Tren-
ton, New Jersey.
AUTHORIZED CAPITAL STOCK is $4,000.
This Is Explained as n Precautionary
Measure to Establish Right to
Title, When Capital stock Will BE
Increased-TO he known as United
States steel Company.

New York, Feb. 26.-Articles of in
corporation of the United States Steel
corporation were filed Monday at the
office of the county clerk of Hudson
county, n. j. This concern is the
gigantic Morgan-Carnegie combine.
The agent of the new corporation In
New Jersey is the Hudson Trust COM
pany, of 81 York street, Hoboken.
The objects of the corporation are
to manufacture steel, iron, copper and
other materials and to own, occupy
and develop mines, and to own means
of transportation. The provision is
made that the corporation shall not
own railroad in the state of New
Jersey.
The incorporators are Charles c.
Cuff, William j. Curtis and Charles
McVeagh.
Capital Stock $4,000.
The total authorized capital stock is
$4,000, divided into 80 shares of 500
each. The provision is made that the
stocks may be increased at any time.
The papers were prepared by Stet-
SOils ~ IAuSSCll. vi NV L VI rs
and were witnessed by Francis Lynde
Stetson and Victor Morawetz.
Preferred and Common stock
The authorized capital stock: is, d.
vided into Is shares of preferred,
amounting to $500, and Is shares of
common stock, amounting to a like
sum. From time to time the preferred
and common stock may be increased
according to law and may be issued
in such amounts and proportions as
may be determined by the directors
of the company. The preferred stock
shall be entitled to yearly dividend of
seven per cent; the dividends to be
cumulative. After the dividends on
the preferred stock shall have been
paid the directors may declare divi-
dends on the common stock.
Number of Directors.
The number Of directors. If more
than three, shall be some multiple of
three. The number may be increased
according to the bylaws. The dura-
ton of the corporation is perpetual.
A Precautionary Measure.
New York, Feb. 26.-The $4,000 cap
talization of the United States steel
corporation excited little comment in
Wall street, as it was generally under
stood that the promoters had deemed
it as precautionary measure to file
its corporation papers at this time
without regard to the amount Of cap
ital so as to insure the validity of its
title. Another conference of all those
interested in the corporation took
place at j. Pierpont Morgans office
Monday. 1t was stated on good au-
thority that the so-called terms Of the
deal heretofore published are nothing
more than guesswork HE exact
terms of the deal. it was said, have not
yet been settled and are not likely TO
be before the end of the week ifthen.
Need $15,000,OOO,
1t was reported in Wall street Mon
day that arrangements for financing
the United States Steel corporation
and for exchanging the securities of
the participating corporations have
been completed. 1t was said that not
more than $15,000.0o0 will be needed
to float the new company and that this
amount has already been set aside by
the underwriters. The company's Sc
curities will be listed on the New York
stock exchange and probably on the