New-York tribune., 1902-08-21
SCHWAB AT STEEL OFFICE.
CONFERs WITH MORGAN AND GARY
MAY COMPLETE ABROAD NEGOTIA-
TIONS BEGUN BY FORMER.

After nights rest in his apartments at the
Lorraine. Fifth-ave. and Forty -ffth-st.. Charles
NJ Schwab president of the United states
Steel Corporation, appeared in the breakfast
room looking fresh and rosy and bright eyed
abont O'Clock yesterday morning. He said he
felt well, but he was disinclined to talk about
his immediate plans. He read report tele-
graphed from Pittsburg that ne was going
abroad to orga nize the steel manufacturers of
Europe into a trust and he said with smile
that he did not care to talk about it. Then he
read dispatch from Sioux City. Iowa. to the
effect that syndicate headed by John c.
Coonbs of Boston. had tried TO buy steel rails
from the United States Steel Corporation, but
had been informed that the corporation would
not sell rails without information TO the road
they were to be used on. and that the syndicate
had been obliged 10 send abroad for rails for a
railroad to be built between Sioux City and
Omaha
You will have 10 ask Vice President Gayley
about that" Mr.. Schwab said. L little
out of touch with business. but l am sure we
would sell rails to any body who wanted 70 buy
them That is our business.
After breakfast Mr.. Schwab went downtown.
arriving al the offices of the United States Steel
Corporation al No. Il Broadway, few min
utes before II o'clock He was unaCcompanied
when he reached his office, but he found several
friends there. and his greetings TO them were
cordial He worked for a time in his office. and
then went into the office of E II. Gary. chair
man of the executive committee.
About noon Mr Schwah walked over to the
office of J. Piarpont Morgan. et Wall and Broad
sis MIR Morgan had expected his arrival there.
and the two men were soon in earnest converse
ton For nearly half hour Mr.. Sohwab
and Mr. Morgan talked alone. Then George W
Perkins and Charles Steele Of Mr.. Morgan s
firm and Clement a Griscom and p a B.
Widener Joined them for another half hour 5
talk The nature Of the conference was not
disclosed When Mr., schwab left Mr. Morgan's
office he walked over To Broadway and rode up
town M Gary gave out the following state
ment.
President Schwah spent considerable time in my
office this morning and also in his own ofttce. and
wen and hearty There seems 10 be doubt that
he will soon be completely restored to health. We
During the last ffteen months he has had charge
OF more FgSpoaTiPm' m e m systenafized gis the busi
ness of the company that It viii not suffer during
two and will take with him the best wishes Of all
his associates.
There was report in Wall Street in the after
noon that Mr.. Morgan would take control of the
United States Steel Corporation and be acting
president in the absence of Mr.. Schwao. 1t
was said that Mr Schwab would be absent from
the country for several months possibly year
In Europe it was said Mr. Schwab probably
would carry on some negotiations started by
Mr. Morgan for a working agreement between
the steel manufacturers of England and Ger
many and the United States Steel Corporation
We do not believe tnat Mr.. SChwab is going
en- prolonged trip broad merely for the sake
of his health" fnancier in Wall Street said
We believe that he will devote much OF ms ms
time in Europe TO the task of establishing pleas
ant relations with steel manufacturers there.
He is a man who gets on well with other men
and he knows all there is to know about steel
When seen last night at the Lorraine Mr.
Schwab refused to say anything about the
nature Of the interview between MI Morsih
and himself
That" he said. is absolutely and purely a
personal matter"
He added that arrangements had been maze
for him to sail this morning on the French Line
steamer La Lorraine. When asked about his
trip Europe he said that II would be SIMPLY
and purely for pleasure and that there would
he no business connected with II.