The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-04-19

I New York. April 1S-After the annual
meeting OF the United States steel Cor
poration in Jersey City to-day. there was
made public a partial list Of the stock
holders Of the company OF record March
/ 10. when the books closed for the annual
meeting
/ The list is the first that has been pub
lished in any detail since 1902. when a
complete list was filed. in accordance
with requirements for the conversion
4 OF S2oo0oo.ooO preferred stock into bonds.
/ The list contains only the holders OF
large blocks or the names Of prominent
men directly or indirectly connected with
the company.
/ The largest holders OF record are J. ?.
Morgan & Co, with a total Of 10000
shares Of common. and 1900 shares OF
preferred stock: the Dutch syndicate.
with 216.S70 shares Of common. and Shear
son. HammiH & Co. OF this city. with
N.s53 shares OF preferred and 1925 shares
I or common.
Holdings in Many Names.
1t is stated that the ] p. Morgan hold
ings are IN many names and represent
( holdings as trustee or on account Of the
firm, as well as that owned outright. J.
] P. Morgan himself IS down as the holder
OF 1900 shares OF the common.
Similarly the holdings OF the Dutch
Syndicate represent the deposit with the
syndicate OF the stock Of hundreds Of
investors. and the presumption is that
the Shearson-HammilI stock Of record IS
similarly held in part as trustee OF
banker.
4 The dividend shows that hfty-hve bank
ing and brokerage firms here and abroad
/ hold Of record about l.250O 600 shares. Blu,
/ this statement does not represent such a
concentration OF stockholdings as appears
/ from f. The bulk Of the large. holdings
/ OF foreign houses represents stock actu.
/ ally owned by investors. large and small
but left 81 record with the firm. accord.
| Ing ito the foreign custom whereby The
/ investor leaves ordinarily his stock with
4 the banker and broker and commissions
I them 10 sign proxies for meetings. collect
dividends. and exercise other rights ir
I lieu OF the investor and IN his interest
/ The same custom has gained much head
way among investors here in recent years
SO that probably in no acses do tht
holdings Of record OF a banking CT broker.
age house represent an actual OWNERSHIP
/ by the house Of all the stock
Prick Holds One share.
The list is also peculiar in that Il dis
closes small holdings by some Of the
directors H. c. Frlck. J. F. DRYDEN
/ c. A. Griscom, and D. G.. Reid. for in
stance. have but one share Of common
I apiece, apparently, and Charles Steele
/ has no common and but one share OF
/ preferred Norman r. Ream's holdings
are also close to the vanishing point. But
ii is altogether probable that these hold.
/ ings Of record are small for the same rea.
son that the holdings Of banking houses
/ are large In addition 10 the growing
custom Of leaving securities in escrow
with bankers. wealthy men have lonc
! carried securities in the names OF others
/ for various reasons.
| Judge Gary, chairman Of the board. and
Richard Trimble. the treasurer. have or
! joint account $4,000 shares Of preferred
and $1,000 shares Of common. This &C.
count represents stock held for subscrib.
! ing employees OF the company. Amone
/ individual accounts, another one that at
tracted curious attention was that OF
Andrew Carnegie. second. who holds
siXtytwo shares.
! The name Of Andrew Carnegie does
not appear on the list.