The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-17
Mr.. Schwab Confident His Corporation
Will Succeed in Increasing Out
put and Reducing Cost.
SCHEME OF A NEW COMPANY
REORGANIZATION OF METROPOLI-
TAN STREET-RAILWAYS SYSTEM.
Securities Company to Assume Con-
trOI-Twenty Millions to BE In
vested in improvements.

NEW YORK, Feb. 16.-After an absence
of nearly two months in Europe Mr..
Charles NJ. Schwab, president of the United
States Steel Corporation, arrived this
morning on the steamship st. Paul. He
comes in time to attend the annual meeting
of the stockholders of the corporation
which is to be held tomorrow in Jersey
City.
Mr.. Schwab visited England, France,
Germany and Austria, coming everywhere
in the closest touch with the leaders of
finance and manufacture. He returns, as
he himself expressed it TO the Associated
Press tonight, more than ever impressed
with the scope and possibilities of the great
corporation of which he is the head, and
more than ever enthusiastic over the po-
sition of the United States in it's relation
ship with the trades and commerce Of the
world
Mr.. Schwab declined to discuss the per-
sonal details of his trip. He said he pre-
ferred to speak as the president of the
United States Steel Corporation. 81 went
away for vacation" he said, land while
had delightful trip. L also did great
deal of work. 1 found a feeling of the
utmost friendship for our country existing
everywhere in Europe. 1 found also in
tense interest in the question of industrial
combinations. the business men on every
hand wishing to know more about them
and about our methods.
II have been privileged to meet the
greatest men Ia tho European world of
finance and manufacture and the great
master minds of economic thought L was
surprised and delighted to find such tre-
mendous interest in great undertaking
and with the cordial reception given every
where TO the president of the Steel Corpor-
alton.
Il said in a speech delivered in Chicago
that any combination of business enter
prises organized for other purposes than
the reduction of cost and the increase of
output is placed on a false basis, and L
return from my visit to Europe feeling
more than ever impressed with the truth
of that proposition. l come back with my
ideas broadened and my enthusiasm un-
bounded. Heretofore L have looked upon
our great combination of the steel indus
tries of this country as perhaus nothing
more than an ordinary business venture
of great magnitude, but after hearing the
views of the business men of the old
world 1 find that / have. if anything, un-
derrated our undertaking.
I'VE are now more than ever ready TO
demonstrate that the greater the scope of
the combination the greater the possibil-
tiles for economy, and consequently the
greater the possibilities for the reduction
of cost. With these objects in view we
must have our great plants equipped and
manned to perfection, and no care or prop
er expense must be spared to keep these
plants modern and at the higehst point
that ingenuity, skill and enterprise can
reach.
while there exists in Europe the great
est feeling of friendship and admiration
for America and Americans, I found also
a degree of curiosity and uncertainty as
to what we are going to do next. But a
/ told them, they have their own protec-
tion at home in their laws, and what we
are after is trade in the great field such
China and the Orient generally This
we want and this We are going TO get
In order that we may do so, however We
look to Congress to make provision for the
protection Of our shipping. We will look
after the manufacturing.
Speaking as the president Of the United
States Steel Corporation, L wish TO impress
upon our people here the fact that through
out England and Europe there exists no
and my visit abroad this year was notable
in the change i found when 1, who had
been there so often before as an individual
presented myself as the president of the
United States Steel Corporation. which as
the greatest OF American consultations
was the center OF curiosity among induir-
ing men of all nations, who sought on
every hand 70 learn more of our methods
and our plans.
Mr. Schwab said he preferred not TO an
ticipate the proceedings at the meeting of
the United States Steel Corporation to-mor-
row.