Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1911-01-04
C0REYQU|TSUNITED
STATES STEEL
COMPANY
PREDICTED POSITION
WILL BE AB0LI ISHED
Former Judge Gary, as Chair
man of the Board, to Have
Entire Charge of Greatest
Corporation in the World.
my Morning Journal cpesial Leased wire

IBy Morning Journal cpeelal Leased wireI
New York. Jan. S.--William L.
Corey, president Of the United States
Steel corporation. resigned today. and
II is probbale he viii have no sue
cessor His resignation was announe-
ed late this afternoon by Albert IT,
Gary, chairman of the board OF drec-
tors of the corporation to take effect
at the pleasure OF the directors.
Tie carries with him the hest wishes
of all connected with the corporation,
says the statement issued and leaves
with feelings of loyalty to the corpor-
Iation and all It's interests. but noth-
ing Is said of his plans for the future.
The first president OF the United
States steel corporation was Charles
NJ Schwab. who following his resg-
nation, became president of the Beth
lehem Steel company. Corey has
served seven years, Former Judge
Garys statement says in part:
after more than seven years of
faithful service. as president OF the
United States Steel corporation, Mr..
William II Corey has rendered his
resignation to take effect ut the
pleasure Of the board of directors.
The resignation will be presented to
the board for consideration and action
In dIe time, and the finance commit
tee will then present Its recommenda.
tions concerning the subject matter,
1T is the present opinion of the
members of the committee that there
should not be elected q successor as
president In the immediate future, II
at all.
'The experience and talents OF Mr.
Corey have best fitted him to take
charge Of the commercial and manu-.
featuring departments and his atten.
ton has been largely confined to thai
service.
However. MS the manufacturing
companies are thoroughly equipped
with the very best ttiisnt, .acludint
such as the above mentioned branehe.
need. the strength OF the organization
will not be diminished The finance
committee may recommend the elec-
| ton of Il vice president or two vice
presidents, who Will be expected to
take special charge Of different de-
partments.
ut Is intended to strengthen the
whole organization in every respect
''The relations between Mr., Corey
and the members Of the board on the
finance committee. as well as all the
Officers of the United States Steel eor-
poration and subsidiary companies
have been most pleasant and agree
able. Mr.. Corey sewers his connec-
ton with feeling Of loyalty to and
friendship for t..e corporation and all
its interests and taken with him the
best wishes Of all who are connected
with the c4mpanSs interests"
Something like year ago the pow
ers of the chairman OF the finance
committee and Of the chairman Of
the board Of directors. both of which
Mr.. Gary Is. We're enlarged to include
not only the administrative affairs OF
the corporation. but the details of ex-
ecutive management Unless another
president IN named. therefor. or an
other chairman succeeds MIR. Gary, he
becomes chief in authority over all
provinces of the largest corporation In
the world.
So far as could be learned Mr..
Corey was not In town tonight and no
statement from him could be had. II
was said that he left town over The
holidays and had not returned.