The Savannah morning news., 1902-02-17
SCHWAB RETURNS
HE TELLS OF HIS VACATION IN
EUROPE.
MET THE FOREIGN MAGNATES.
WAS OUT For PLEASURE But DID
BUSINESS, TOO.

inc Lcauers ot ttnnnce and tuduk-
try of the Old World Gased In As
tOnishment and Admiration Upon
the Head of "a billion Dollar Cor
pOratIOm and Desired to Know
No Enmity, Only Admiration for
lis, Saws MIR. Schwab.
New York, Feb. 16.--After an alb
sence of nearly two months in Europe,
Mr.. Charles NJ. Schwab. president of
the United States Steel Corporation,
arrived this morning on the steam-
ship ST. Paul. He comes in time to
attend the annual meeting of the stock
holders of the corporation to be held
tomorrow in Jersey City.
MI. Schwab visited England, France,
Germany and Austria, coming every
where. in the closest touch with the
leaders of finance and manufacture He
returns, as he himself expressed it, to
the Associated Press to-night. 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 position of
the United States in it's relationship
with the trade and commerce of the
world.
Mr.. Schwab declined to discuss the
personal details of his trip. He said
he preferred to speak as the president
of the United States Steel Corpora
ton.
Il went away for a vacation" he
said, "and while 1 had a delightful
trip, l also did a great deal of work.
found a feeling of the utmost friend
ship for our country existing every
where in Europe. I found also, in
tense interest in the question of in
dustrial combinations, the business
men on every hand wishing to know
more about them and more about our
methods.
Il have been privileged to meet the
greatest men in the European world
OF hnance and manufacture and the
great master minds of economic
thought. L was surprised and delighted
to find such interest in our great un-
dertaking and with the cordial recep-
ton given everywhere to the president
of the Steel Corporation.
Lesson on Combinations.
Il said in a speech, delivered in Chi
cago, that any combination of business
enterprises organized for other pur-
poses than the reduction of cost and
the increase of output is placed upon
a false basis and L return from my
visit to Europe feeling more than ever
impressed with the truth of that prop
osition. | come back with my ideas
nd
bounded. Heretofore l have locke 4
upon our great combination of the steel
industries of this country as perhaps
nothing more than an ordinary busi-
ness venture of great magnitude, but
after hearing the views of the business
men of the Old World, 1 find that /
have, If anything, under-rated our I'M
dertaking.
We are now more than ever ready
TO demonstrate that the greater the
scope of the combination the greater
the possibilities for economy and con-
sequently the greater possibilities for
the reduction of cost. With these oh
1ects in view We must have our great
plants equipped and manned to per-
lection and no care or proper expense
must be spared to keep those plants
modern and at the highest point that
ingenuity, skill and enterprise can
reach.
What Europe Wants to Know.
while there exists in Europe the
greatest feeling of friendship and ad-
miration for America and Americans
l found also degree of curiosity and
uncertainty as to what we are going to
do next. But as l told them, they
have their own protection at home in
their laws and what we are after is
trade in the great common field, such
as China and the Orient generally
This we want and 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, / wish
to impress upon our people here the
fact that throughout England and Eu-
rope there exists no feeling of enmity
among the great men, and my visit
abroad this year was notable in the
change l found when I, 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 GU
riosity among inquiring men of all ma
tions who sought on every hand to
learn more of our methods and our
plans"
Mr.. Schwab said he preferred not
to anticipate the proceedings at the
meeting of the United States Steel
Corporation tomorrow.