Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-12-10
ness to begin at the lowest round is
much In his favor
STEEL CORPORATION AS IT is.

1883 w pSSiil Liz loMSSt lOu-lo Us
much in his favor.
STEEL CORPORATION AS 1T is.
The November McClure's opens with
an interesting article by Ray Stannard
Baker. What the United States Steel
Corporation Really Is, and How II
Works" Mr.. Baker gives an account OF
the mode of organizing this great COM
pany, the details of which have already
been presented in the Review of Re-
views and a picturesque description of
the home offices and officers of the So
| Called trust. MIR. Baker explains that 1t
is impossible to give an adequate idea
| OF the magnitude of the Steel Corpora
ton. as mere list of its properties
owned or controlled would fill an entire
number of McClure's Magazine. 1t
receives and expends every year more
money than any but the very greatest of
| the worlds national governments; its
debt is larger than that of many of the
| lesser nations of Europe; it absolutely
controls the destinies of a population
| nearly as large as that of Maryland or
| Nebraska and indirectly influences
twice that number; it owns and controls
LIS fine steamships on the great lakes.
six important railroad lines and several
smaller ones. In Pennsylvania Its coal
possessions cover over $4,000 acres of
land worth 81 200 an acre, besides 30,-
600 acres of other land and quarries, and
$4,000 acres of leased natural gas lands,
1t owns no fewer than 1S,309 coke fur
naces. being the largest coke producer
In the world OF blast furnaces 1t owns
eighty, producing 100000 tons of pig
iron yearly, and of steel plants it owns
about $50. The steel corporation owns
about two-thirds of the steel industry
of this country. much larger proper
ton of the tin-plate industry. and the
other third is in the hands of num-
Der of rivals. 1t is a most striking fact
that the Steel Corporation produces
more steel than the whole of Great Brit
Gin and more than the whole Of Ger
many. The one corporation puts out
more than g quarter of the entire prod
uct OF the world. Mr.. Schwab expects
that when hard times succeed the pres
'ent prosperity the Steel Corporation will
control rs per cent of the stsel Industry
because 1t is better fitted to weather
storms than the small independent con-
Germs.
THE MANAGERS ARE YOUNG MEN.
i 1T is significant OF the vitality of the
new corporation that its managers are
all men in the prime of life. The aver
age age of the president and his cabi-
net is only As: the oldest member is SIS,
and the youngest. President Schwab,
but 80.
1T is a general tho erroneous impress
sion that when the Steel Corporation
was organized all of the ten absorbed
companies lost their identity, being
merged in single huge concern man
aged from New York City But the
United States Steel Corporation is
rather a federation Of independent COM
panies. a combination OF combinations,
each with its own distinct government. |
officers, sphere of influence and particu
lar products. The Carnegie Steel Com |
pany, for instance. is still independent
Goth are part of the United States /,
Steel Corporation, in the same way that
Pennsylvania and Illinois, while sepa-
late states. each with its own governor,
are part of the United States. The title, |
Cor instance. of A. ]. Major. is president |
of the American Bridge Company Of the |
United States Steel Corporation The |
organizers here pursued the historic
POLICY OF the old Carnegie Steel Com
Eany. Mr. Carnegie encouraged friend
ly rivalries between his plants, squirting
them on with rewards, and by firing the
/ ride of accomplishment he succeeded
in adding to the efficiency
Of his force. For years huge broom,
the mark of honor, was shifted from
stack to stack in the Carnegie mills as
the record Of the world was broken; and
very man, from the manager down.
gl0rled In the presence Of that broom.
SO the various great companies of the
steel Corporation will be encouraged in
rivalries. The United States Steel Cor
poration, owning practically all the
took in each subsidiary company. can
assure harmony by electing such drec-
buys Of or sells to another as
formerly. and the bargains are driven
lust as shrewdly as ever. each president
being keenly ambitious to make good
showing for his company. The disputes
which naturally arise are settled by the
Executive committee, sitting as sort of
supreme court.
CONCENTRATIONS OF OFFICES.
Formerly the main offices of many of
he subsidiary companies were in New
York City, but when the new corpora