The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1903-03-04
U, S, Steel Corporation Putting
Through Big Undertaking
WILL INCREASE CAPACITY
Several New Plants Will Be Erected
and others Added to and Equipped
With Modern Machinery-Wlli
Increase the Earnings.

New York, March s-At a meeting OF
the board of directors of the United
States Steel corporation today, the form
of circular to be sent to stockholders in
connection with carrying into effect the
bond conversion plan, was approved.
They will be sent out during this week.
The plan provides for the issuance OF
$3.50, 600 900 of per cent bonds, s2oo,0Oo0o0
of which are to be exchanged for $780,
900, 900 Of per cent preferred stock. Judge
Gary, chairman of the executive commit
tee, gave out an official statement to the
effect that plans which have been under
consideration and preparation for over
year for harmonlzing, extending and
rounding out the various plants, will be
pushed forward with all possible dispatch.
the presidents of the various subsidiary
companies who have been in conference
here this week having given their full ap-
proval of the plans, which provide for
additions and improvements to plants to
cost more than $36,0O0O0O.
Big Increase Of Capacity.
1t is estimated that when these expendi-
lures are completed there will be added
to the total capacity of the various sub
sidary companies 100000 tons for all
products.
Among the large estimates are: Ilnnois
Steel company at South Chicago. ILL.,, con-
struction of the new open hearth furnace
plant, blooming mill and finishing mills.
s3.OO0,OOO; other improvements in South
Chicago and Joliet. ILL.,, S3,545, 900; National
Tube company at McKeesport, Pa the
entire rebuilding of the present rolling
mills and tube and pipe mills, together
with the adoption of one new blast fur
mace, an additional Bessemer converter
and the installation of new water and
power plant-all at an estimated cost Of
50, 255 662. This improvement will increase
the production at this plant of iron 1G6,-
900 tons per annum Bessemer ingots 140,-
| 900 tons per annum, of the rolling mills
| 124,000 tons and of the tube and pipe
mills 100000 tons.
At Lorraine, O., the erection of two ad-
| ditional blast furnaces, with accessory
works; additional rolling mills and new
tube and pipe mill. all at an estimated
cost of $S, 096. These improvements will
increase the annual production of pig iron
to 2470OO tons. of rolling mills 100000 tons
and Of the tube and pipe works 100000
tons.
and the Riverside department at Wheel
ing, w. Va, 1892, 400.
American Steel and Wire company.
various improvements In the Plttsburg
district, in the Chicago district and at
the Worcester, Mass works and the AL
lentown, Pa. works to the aggregate
amount of $4,535. 600
Carnegie Steel company al the Home
stead works. Homestead Pa, $1.135.O0O.
National Steel company additions and
improvements to existing plants, 81, ,592, 900.
Modern Methods.
American Tin Plate company, installa-
ton at various mills OF modern methods
of operation. 81. 900, co.,
II. c. Frick Coke company. the develop
ment of coke and steam coal properties,
including the erection OF additional ovens,
$40 900.
This Improvement, 1t is estimated, will
increase the productive capacity of coke
275,0O0 tons per annum and Of steam coal
COO, 900 tons per annum.
Mining companies. improvements, ST.
355, 900.
Transportation properties. improve
ments, extensions and additions, 1880, 800
Judge Gary's statement says 1t is esti-
mated that under normal conditions the
increased earnings from the increased and
improved capacity will be about S700OON
year and that there will be saving in
manufacture of about 5000, coo, or a total
of something like $4,000 coo a year added
to the profits of the several subsidiary
companies"