Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-01-04
As President Of United
States Steel Corporation.
Not Likely That a Successor
viii Be Appointed.
Ex.Judge Gary Will Probably Be
the Acting Chief.

New York, Jan. 3.-William f. Corey,
president OF the United States Steel
Corporation, resigned today, and it is
likely tina he will have no successor.
His resignation was announced late
this afternoon by Ebert H. Gary,
Gary, chairman of the finance commit
tee of the corporation. to take effect
at the pleasure of the directors He
carries with him the best wishes OF all
concerned with the corporation, says
the statement issued, and leaves with
feelings of loyalty to and friendship
for the corporation and all its inter-
ests, but nothing is sai0 of his plans
70. the future.
The first president of the United
States Steel Corporation was Charles
NJ. Schwarb. who. following his resiy-
nation, became president of the Beth
lehem Steel Co. Mr. Corey has served
seven years. Former Judge Gary's
statement follows:
After more than seven years OF
faithful service as president of the
United States Steel Corpora ton. Mr.
William f. Corey has rendered his res
isnation 10 take effect at the Pleasure
Of the board OF directors The resigna-
tlbIi viii Dr To tilp DO1Tu 1OT
consideration and action in due time
aad the finance committee will then
present its recommendations coeerine
the subject matter
1t Is the present opinion OF the
members of the finance committee ,ha :
there should not be elected a success
sor as president in the immediate flu
ture, if at all. The experience and
talents of Mr.. Corey have best fitted
aim to take charge of the commercial
and ;:anuia curing departments and
his attention has largely confined to
that service. However. as the manG-
featuring companies are all thorough
Is equipped with the very best talent
including sGch a tie above mentioned
branches need, the strength of the or
saniz3tion will not be diminished. The
finance commute. may recommend tbs
election of a vice president or two
Vice presidents who will be expected
to take especial Charge of different de
partmerts. Ii is intended to strengthen
the Whole Organization IN every re-
spect.
The relr tions between Mr.. Corey
ana the members ii tn" board and
ri the finance committee respet lively.
as Well as all the officers of the nited
States Steel Corporation ana subSidi
AIRY companies have been most plea
SAINT and agreeable MI. Corey sewers
his connection with feeling of loyalty
to, and friendship for. the corporation
and al its interests. and t,tkes with
him the best wishes Of who are con
nected with the, company above re-
ferred to-"
Something like a year ago. the pow
ers of the chairman of the finance
committee and Of the chairman OF the
board of directors, both of which posi-
,ions Mr.. Gary occupies, We're en-
larged to include not only aGministra-
tive affairs of the corporation. but the
details of executive management I'm
less another president is named or an
otner chairman suco eeds Mr.. Gary, he
becomes CHEF in authority over all
ployinces of the largest corporation
IN the world.
So far as could be learned Mr. Corey
was not in town tonight and no state
n,ent from him could be mad. 1t was
said that he left town over the hoil-
DAYS and had not returned.