Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1901-04-11

The American Bridge Co., known
also as the Bridge Trust, which recently
acquired the plant of the Edge Moor
Bridge co., has become factor In the
Steel Trust, the official name Of which
is the United States Steel Corporation.
A short TINA ago tho United States
Steel Corporation was charter cd under,
the laws OF the State of New Jersey
with nominal capital OF 49, 600, but
at the time 1t was stated, unoificia!y,
that the capital actually was $500,
ON, 900, of which s4OO, 600. 900 was pre-
ferred and S400, COO, 600 common stock,
Last Tuesday nn amendment to til
charter WAS filed at Trenton, N. j.,
increasing the capital from $1,000 Il
81, loo, 600, GOO OF the total authorized
increase, Sl56, 100000 hts heen set
apart to acquire the outstanding stock
Of the American Bridge Co and the
Lake Superior Consolidated Iron Mines.
The authorized capital OF the American
Bridge Go. is $40, 900. 600, divided
equally into s35, 600, 900 common and
S35, 600, 000 preferred stock, which is
said to be entirely issued. As tho pre-
ferred is to be exchanged for stock Of
the United States Steel Corporation, at
ITO. and the common at l05. the stock
requirement is S35, 500, COO of preferred
and S36, $50, 600 of common stock, or d
total Of S75, $50, 600 in United States
Steel shares.
The properties acquired are of great
importance to the United States Stesl
Corporation. The American Bridge Go.
is the most recently organized of tho
iron and steel industries. 1t was
organized on May 18th, 1890, ard 10
Mt hAa ..tI =.
known as Morgan corporation, num-
bering among its directors two of j.,
Pierpont Morgan's partners, RI bert
Bacon and Charles Steele. The com.
pany includes "a OF the most Important
bridge-making plants in the country
and manufactures bridges, roofs, build
ings, columns and all kinds of metal
structures. Its productive capacity
100000 tons per annuE;. The executive
committee OF the bridge company coma
prises Parcival Roberts, president; vii!
liam II. Cornell OF this city, who is the
president of the Edge Moor, Bridge Co (;
Charles Mcdonald, W. Fl. McCord,
Charles M. Jarvis, Frank Congcr, and
James p. Kennedy, and MIR. Roberts,
Mr.. Connell, W. G. Oakman, Charles
Steele and Robert Bacon comprises the
finance committee.
As has been announced heretofore,
the bridge company has established it's
headquarters at Wissahickun, Pa, but
it is understood that the local plant,
which is located at Edge Moor, is to-
become one of the chief ones under tho
control of the great corporation In
fact it is at present one of tho most i'm
portant plants. Extensive improvements
have been made there since 1t nassed
into new hands last Maryland greater
improvements are contemplated, il IL
under stood. Its location is admirable
for tho business OF tho ctmpBny aid its
development will he natural result
1t is on the Delaware River, near this
city, with magnificent Wharfage and
equally good railroad facilities, the
value of which was at once realized Ey
the American Bridge Go. 1t is UNDER
stood that it is to become one of the
principal eastern shipping points of tGe
great concern, as we'll rs enc of the
chief manufacturing plants.
Improved machinery has been in
stalled recent, and new ideas charG9-
terize the operation of the plant under
this new management One of the
changes which ia beneficial and facili-
tates the delivery of structural work at
the plan of assembling and erecting
bridges, buildings, &C., in large seq
tions at the plant and loading Them on
floats and taking them intact to their
destination. This has teen found 10
be a great saving where such Elan
can be taken advantage of, as it gives.
the company the OPPORTUNITY to use the
facilities at, the shops foi putting the
work together and obvistei the nece5-i
sity of doing so much work where the
buildings and bridges are to be erected.
1t is understood that the oompany's
becoming II member of the United
States Steel Corporation will be benei
fetal to it and will give it The adj
vantage Of more extensive facilities,
both rs to buy ing and selling, and will
enable it to work 10 absolute harmony!
with all ct the other concerns in the
billion dollar corporation.