The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-06-01
OB.JTj lion TO THE BONDS.
John Irehsne publishes Another Letter
IttarkInS the Pian Voted Into Eject.

Nf"
J.pn Trehane. the London lawyer and
shareholder In the United Statee Steel
CORPORATION, who prior to the meeting Of
tie ste-l corporations shareholders on
MAY 10 10 ratify the bono conversion plan
Issued all open letter attacking the plan,
hss issued another letter. under date Of
London. May -. which states that, -an
tEUeiually signei request for thr-.
nurtis' aeiay Mas cshIed on May II TO
tie dlI.ctors Of the United States Steel
CORPORATION from London and comments
tini. i.spit- objections, the plan Was put;
Though. Mr. 1rehsne's letter go~~ on to
cav
30 'n.. s,,rsordinsry AFFAIR tho c~onundram
". ruffl-- ne l. this: Why, II the cor.
T. 10 a. PROSPEROUS ~ the directors,
o.. 81" they iu such az Indecent haste
Ped .. fhrtr incon" from : yer cent To-
g.. ."Ut and tax" a mortgage" security
u ''" operation - not a. PROSPEROUS a.
H., -, ut., how dar" they brins trustees,
i.r 'u' property, which they Insusg-.
). .'.H. Nut" how painful aud .mhsr-
=. o. -"r ,itiye men Of honor VII their
%" ~. through u~'sN"idahl" mis-
% uf their "Nn r"ckl'~- uli-iusnagr-
~ .." c"rr"rsti"n stall on" day be un-
81. P. meet the new hN"d charge Of sII,-
- .. t."s At. fut ,hc upon Il They viii
Tho nav" IN fur-'lu-a On themselves. and
a. 'g.I- nWn protection they will have To-
CO. ..I' az ~ ~" - ~ iNfAFNt'i e4lu
III. lrcul,r Of the DIRECTOR contained a
- 90 iUlh y. winch O, c.Sor'd hot *
J. Morgan aud ht- partner. ~" chairman
a. 'H" finance COMMITTEE Ih"-" gentle
Ne ...It-d the sfoskholi.r- 10 incre As. VA.
10 rsg - d"bt 81 the cooperation by s.tO.-
D. sa AI'hoIi q dollar 81 dif''t cousidcTa-
TO- tsCiu-" ~ would thereby gain ~" fol-
lov Advantage. aud thl- mark you, u
H. lrlv indnc-mrui they cau think Of 1hcy
sAy soaking Il fh" s~.sO.gp.nop mortgage"
49," consequent tLOoturo r"duotiou OF
81. r.. .u f~u,r~as" NJ interest. would result
f. % ''r zurutl SAVING - o.. ~, on. exceed Nc
h. q. ~" 'h" annual '' KING tund c%ortribu:
tou ~ q Hlu,sr required by the propOs.d
korf.Hr" Now 70 ~" > seems thai Mr.
, = N.'sl' and Mr. Perkins lad 10 under
Sssri 'i. N.".Torn. lot Vp.' interest on a
Oct, 1'i % IIvii"'d on stock
y. r'"r'>t .- sgn which The coruorAtion
i fNr7'.I 20 nv oI' - - r"-ourCas. although
l. r,y %" Norkirs ~ 4 loss. and IL l. a fixed
char n' ~" I-s"'s Il = only payahl- out Of
rroHis . 81 no r"-t1I" % 'h~ profits. which
~ or .".i, o. ~" oav - rc~"rv" 'Inds,
ct Hs 20 -" Tor. rri which ~. Therefore.
dis ... ., - s'o'khoii"r.
y ..-'tng'iou 'o ~" cas" tn poin,
kupr' ' f'er utrtrr ne interest
lna .url Of W C1rn":. hrs,
b. |.r. lrd'r th" director -ch'm-,
h''o'" Dr. 0orIi u-~ , dollar fof BE- own needs.
- c'fror.' ION would hRy" 10 ny OUT sia.-
~ q ..''f'~' ana ~lfhlNg ''fN Tor the
80 HN m woriTngo. ard II would b. left
W. no" uI'fnuu" ~ aNo. 90 WIN which 20
Pr GOOD ~ n""'s~Hry rr--ry"S Hut
Yff'oI' f'H rOUv'rsiuu s"heUT". the only
1orre' F1'f~erf out 81 the $4,000 mo would
p v q" 30. h'lrF The interest and sinking
IN on Ne 'or"."N Tor'sase' Il Void
t.cr"'H-' ha ~ Nl'h ~. handsome sum
o. rs'. instead % only stpO. ON. and
o. H '... H could 30 1he 20 make good
T. 49,. .. rl,i -IppiS 90 10 cnrro-lt~ needs
'' ''lf. % vpI.i a .'ubu'r the
.. ~ tG not Want it-.lf. among
H...fa y -'H' =. therefore,
O. I.f. .-..F f|' -.rIfg -r 81 10. COZ
20 .Hr even hE 'h- 'tf,trl sIur 81 s.Rp.ca.
800 i',r'. -' % bs so. -fDsa n.ins IA.
oN.f'r.' between DO, sla.sIr uog s.l ,haTse.
~ '.r On OF. .ts~ Tor saSu 80. OUu AMI the
$3.50 fN"l thar g". under ths a.. 90. 90
6Tfs.Frn