The Barre daily times. (Barre, Vt.) 1897-1959, 1903-12-31
ROCKEFELLER
In STEEL
Morgan Said to Have Lost Control
Of the Trust
Prick FIRST LIEUTENANT.
CarnegIe's Enemy WIN Aid stand
ard OH king In Reorgan-
fzing the Great Corr
poratiOn.

New York, Dec. 3l.-Control Of the
United States Steel corporation, the
greatest Industrial concern in the
world, is now completely and absolute
" vested in the Rockefeller group Of
capitalists and Henry Clay Prick, the
enemy Of Andrew Carnegie. says tie
World.
Formal announcement Of this fact
may not be made in set words, but the
effect Of the change from the control
Of j. pierpont Morgan viii soon be
made evident
John d. Rockefeller and Mr. Prick
have fully worked out their plans.
These provide for the complete elimina-
ton Of the Morgan Perkins Sehwab.
Carnegie parties from active leadership
in the affairs Of the Steel corporation.
To Use standard OH Methods.
Standard Oil methods are hereafter
to be employed from top to bottom in
the management Of the steel trust. The
first to feel this will be the men who
are drawing salaries Of from $4,000 to
$4,000 d year. Many Of these men are
friends Of those who dominate it's man
az ment. These employees under the
new regime must either stand for re-
duction in salaries or get out
The new plan is to run the corpora
ton for its owners, the stockholders,
and not for the personal friends of the
controlling interests. No employee viii
get more than the actual value Of his
services.
A Pittsburg man, friend of MT
Prick, in describing the salary question
under the new regime, said:
'These men viii be able to live com.
fortably in Metuchen, n. =, Or Plain.
field, but not ii style on Fifth avenue"
Like all movements by the Rookie.
fellers control Of the Steel corporation
was accomplished quietly
TO Make Company Conservative.
The ultimate purpose is TO put the
Steel corporation in the same class Of
conservative management as the Stand
ard OH company, and 70 attain that
end none OF the necessary surgical OPP
erations III finance viii be spared The
work is 20 be taken up ia a spirit that
Is absolutely hostile to everything done
in the past by Mr. Morgan, Mr. Per
kins and Mr.. Schwab.
The Rockefeller policy has always
been to make the payment of dividends
secondary TO the accumulation OF q
huge surplus for offensive and de
fensive purposes. The Standard Oil
company, with capital Of 100000,
600, IS generally credited In the Wall
street district with having an undivided
cash surplus Of S2O0,OO0.00O.
Whether the change in control will
also bring about change in the presi-
dency Of the corporation Is not known.
w. u. Corey, the president, is Car
negie man. The breach between Mr..
Carnegie and Mr., Prick is just as
broad and bitter now rs il was in De.
ceInbcr, 1890 when Mr., Carnegie tried
TO eject Mr.. Prick from the old Car
negie steel company and take over his
stock holdings under the ironclad agree
ment through which Mr.. Carnegie con
trolled his partners.
wanted Prick For President.
Mr.. Rockefeller wanted Mr. Erick to
be president of the Steel corporation
when 1t was organized, believing him
to be superior to Mr. Sehwab The en-
nifty of Mr.. Carnegie, however, stood
in the way Of the position going to sir
Frick Under the new regime Mr
Carnegie is not to have any say in the
management Of the corporation and Is
is be simply on the same basis as other
bondholdefs
The meeting Of the directors 81 The
steel corporation to take action on the
dividends for the first quarter Of the
new year will be held on Tuesday Of
next week A majority OF the directors
are Morgan and Carnegie men.
Thomas Lynch, president Of the II
q. Frick company, one OF Che constitu
emf companies Of the steel corporation
is in this city having been summoned
from Pittsburg Mr.. Lynch sided with
Mr.. Frick in the famous fight with Mr.
Carnegie. he was in conference with
certain officials Of the Steel corpora
ton at II Broadway The nature 81
his mission could not be learned, but itI
was supposed to have something TO dc
with the change IN control