New-York tribune., 1911-04-18
qE[L DIRECTORS ELECTED
e,eks at Annual Meeting Show
piu Changes in Holdings.
.asy CHEERFUL ON OUTLOOK
-,,sn Tells Stockholders the
s rompany's Policy Is Fairness
and independence.


s Corey we're reelected for /
NA." earn, and Gardner NJ Lane. 81 /
scsron house Of Lee. Higginson & Co I
.,.,-es as successor 10 the late Ma /
- Thayer. Of Boston
-~sga E 4 Cary. the chairman Of ,
.o,~s presided az the meeting. At the I
-. ~ stockholders he made com I
ssrs,ve statement regarding the condi- /
- the steel industry and The outlook. /
1870 he took an encouraging view. and /
~-..oi,-,on offered by one Of the stock /
..ssrs present for inquiry into certain /
80 in q recent magazine article bear /
mon labor conditions n the steel Cor 7
...,,son.s plants was adopted. Chairman F.
-. voting ID favor Of &c the large ma /
-, holdings for which he held proxies. /
.,..- The meeting the transfer books were I
80 for Inspection and many changes /
49,, tbs holdings cf a year ago were els /
eosed
80 Gary rretaced his remarks by /
..,.rr that he never made statements for /
=. stock market an3 did not keep posted I
= -sssrencs 10 the stock market. and did /
:. corcsirs it % os the duty Of an officer /
Great CORPORATION to pay any attention (
..,.seer 90 that market Continuing. he 7.
.si.
"a bsvs as YOU know we'll defined poh. /
-.s wiz respect 10 the mana cement OF cur !
-,-rorauon and have not departed AT am I
y---v I'M regard 20 our properly and our /
tasiress This also involves fair treat 4
rsrt % egeI,- cre who is directly or ino'- I
-e,sI~ interested iu our company or The
~ q
- lines to treat our stockholders EN- !
s'.vas customers competitors IN business
I'd he pubic generally fairly and honestly /
NJ deal IN -re oFeD. and expect 90 succeed I
A. fail or rhs basis OF what We consic er IS /
s,nest and decent management
-Tssrir- rr-se n mind. We believe in a /
,.sssr persie- srr. aggressive. and iutei- /
rs~t mara cement Of our affairs. We en- /
80, To secure ire best property. the best I
.sia-f fhe "a. test and best methods ot /
--e-ifs-tlre and operation We keep our /
ssyss az a.. times and under an circum- /
s.s--ss absolutely independent Of all orher /
eo-,orst!crs never tying ourselves up 10 /
\, or rot 20 do anything. bur yet 81 the /
Sane tine We ertcavor as matter or 5000 4
nrHcv o. zct honestly, 20 assist and ccnent I
or conpeutor in business. so far as We /
,s,,5o f6 cons .stantIv properly and Legally. /
" believe we have at the present time 4
f., hetr4r organization throughout all our /
sa-,-aniss than We ever before had. We /
.5irg We are best equipped at the present I
tire 70 manage our aralrs ecolloIi,l.-allS I,-- I
s-d r-ompCr and yet We have no disposi- /
ro7 20 remain passive. inactive and con- +
SoN As to our business conditions: We /
,v very well satisfied Win toe amount @ 81 /
s,~. resrzo4 during t~e las, fifteen 4
months Our ~ .- ar- nor TunnlnS TO t'eiI /
sii ~soqci-v and we should be Siac lf /
nots cuisines was offered but nevertneieSs /
- brsi7eS- which We have been getting (
- h.en la~-e and. under the circum- /
,-arcss should ne considered satisfactory. I
Then .ha United States steel corpora llon /
v,s Organized tie total capacity Of in /
sting mills was somewhat like 25Vw or I
,ia, IONS a sav A. the present time the T.
o-osusns capacity is nearly double that .
amount
The See. corporation at the beginning |
had absut 50 per cent or the total business !
r. tss coen-rv. Judge Gary added. and now /
s,ersEsd about 55 Per cent. Il was the /
yr--oss o. she n,auagement not TO exceed 4
q re- cent at any time. he explained as 1
a ras desired rl avoid any GlesLon OF /
r44pclv. Ee continued
A. usual The Introduction Of bills IN Con /
res rar-icliarir bills relating - l-e
sriF has lr erect Upon the purchasing I
rhrc which causes some doubt or distTl't I
&c tirt3.-y and that IS true Oi Ile sLeS-
on extra session ot Cons ess. 10" te,-,,
riag tle mcutr oil April our entire COOK
LIS vii show that we are -ClnS d NeIf I
h!r 5u-i-ees although bookings VIII &c .
snswhat lees -l1l t.er we're oiTlNs 'L-
rless 6ccErgs 7hich have referred TO 4
tsve been made up Of purclases o- ~
,rooucts generally pretty Wen cis--I Jtt,S 4
slesst VITA terence 10 the lines Wnlcn
-. ga.-roads Lave oseo l. Jle nsU5C ~
ks@iag AS YOU know. nor" l,ls,1-..Ss,- ~
l4t tne railroads usually buy ABOUT o9 10
~ ce-- ~ The entire proQlcle 4-t eplli'
frs pas- they have been oUyinS on.y aoo.t
. Or S rzl cent IS the ralrodd@ nave
1sglsc,sd % purchase during tre -a-t year
O. 81 h naturally follows than their rece@-
titles have cCr-espordirg.Y increased a-t
y-sd Up l. is only p qees'o-1 tc-4 FtT
tst,sr ures .r the future although hno"
J9l-cs 70 .e O. disturbing -arlor.
Cha-ss A Cabot. OF Boston. one-ed .
-sso.-,iou for the appointment or COM
nitee CO are -o investigate certain state
rsats n a magazine article entitled lld
b. q rortv' which related 70 the steel
Crpora-cn attitude toward It's emplcYes.
Chairman Gary said tha- every opportunity
iad beer gwen 70 the writer Of the article
% nvesuEate al the conditions relative 70
hs s15 ,ct. -ut that the article as pub
ltsse seemed 90 the corporation manage
c.nt % ,e partisan and unfair.
Re corporatica had declined 20 give 80
rsn Interested n the investigation the
'ilss q 1t-s-a thousand CT the stocShoic-
''s Tor --e purpose Il permitting the dis
no1n2n cf rce article among them, as u
Fas believed that the motive was not good.
Fl hs suggestion tie motion was made 70
APPOINT committee of five stockholders TO
''.scer tae whole sUh-ert and report 20
80 21aHce COMMITTEES. ana 10 this form /
2 rs earned
AS n --s ts- co a gear $50 tle Amster-
~ syndicate appears az ne largest single
'e,Aaooer ll March o. s wear a2o .
's'' zsS7o shares cf tae common stock and
l- P7e.srTet while this scar 't holds ESQ
'-s1ss o. preferred and -S-lo common.
0'-s- important foreign holdings are
f'ss q " Fl Eorhzcai.d & Co.. 15.51
"s's''ed and 17955 common. against lzGu /
,is'7'fse and % So common year age. g.
-, scArc=6er & Co, $50 preferred ana
- eonraor. comparing WIKI go preferred
Z. % common last year Leon Brothers,
~-'-, 2.-i) preferred and $3.50 common.
.--'s' ts-- preferred and 81 go common "a
and The Swiss Bankvere.n. 5l3 pre-
- an- q; 245 comncn. which compares
p -'i. preferred and 1888 common last
.-s -e-cor 5ouss Of NarEs Eultsel
- &C., which was on the list 81 ls52
-o.e-ng 17.:-s shares cf preferred stock
-'s-- common and last yesr held 1855
7o ard $3.50 common. does net ap-
~ .' c. ta.s years list
,-Aost al The well known stock TX
'ss Hclses are On the books as holders
,..tlanon .''nanon and preferred stock. most e
-.-.. ~. .ao.1.1g less Of the common than twelve
60 ago but some having increased
- ''4a'ngs. watch tc- the most part
'-"i ne accounts OF customers. me
=, ,st -sst American stockholder IS the firm
= s.sa-sr-- u - LII l. IL. --...-...-L - |