Evening star., 1932-03-21
CHANGES IN STEEL
COMPANY PLANNED
New Shifts in Official Lineup
Scheduled at Annual
Meeting.
BY the Associated Press.

BY the Associated Press.
NEW YORK, March 21.-When that
pleasant family reunion, the annual
meeting of United States Steel Corpora
ton stockholders, takes place on April
10, at Hoboken, N j., some introduce
tions will be in order.
Since the owners last foregathered to
transact routine business and eat
chicken sandwiches at the yearly light
luncheon" several important changes
have been made in the executive per-
sonnel. For the most part, it is case
of old faces IN new jobs, although Will
liam A. Irwin, the incoming president,
made his debut in a parent company
position only last September.
Other Changes.
In addition to Mr.. Irwin, who officially
takes the presidency on April 19, the
first day Of James A. Farrells retire
promotion of William J. Filbert from
controller to vice chairman Of the
Finance Committee, and addition Of
Walter s. Clifford, conspicuously sue
cessful in administering the affairs Of
American Telephone, to the same i'm
portant committee. There have also
been few less prominent changes.
These shifts represent virtual COM
pletion of the third step in the cor
porations development program drafted
about four years ago, when Myron G..
Taylor became chairman of the Finance
Committee. It is still being strongly
insisted in some quarters that Mr.. Tay-
lor himself is slated to become chair
man of the board, succeeding j. P. Nor
gan, who can give only part of his time
to the corporations affairs. Should that
change be decided on, Mr.. Taylor, 1t Is
pointed out, would emerge formally as
the successor to the late Ebert H. Gary.
When Mr.. Taylor, an intimate asso-
ciate of George F. Baker, was made
finance chairman-a post which Gary
held in addition to the board chairman
ship and the chief executive oficership
three measures for the corporations
progress we're decided on.
First on this far-reaching and far
sighted budget was retirement of Steel's
large funded debt. This was accom-
plished, under Mr. Taylor's guidance,
in 1929, when times were good cash
abundant, and share holders eager to
take up the new common stock issue,
proceeds from which went toward buy
ing up the bonds. Incidentally, elm
nation Of this burden Of fixed charges
proved immeasurably helpful to the
corporation as soon as business soured.
The second step was modernization
of plant to meet changed conditions.
This included scrapping out-of-date
facilities, abandonment of uneconomi-
cal sites and new provisions for indus
trial research.
Twins Selection.
Third was the matter of personnel,
a problem complicated by Mr.. Farrells
approach to the retirement age of 70.
The corporation combed the field care
fully. finally deciding on Mr. Irwin, for
more than 80 years associated with
United States Steel subsidiaries.
The new president and the old have
much in common. Both have execu-
tive and selling ability and both have
lived their lives in the industry. Mr.
Irwin said recently that his job had
been and would continue to be the pro-
duction and disposal of steel, which
means that direction of financial
policies will be left with Mr.. Taylor on
whose Judgment the corporation has
duties in December, 1927.
The announcement of Mr.. Twins
election did not state specifically that
he was to be chief executive officer as
well as president, although Mr.. Farrell
has held both titles since late in 1927,
when the corporation made executive
changes necessitated by Garys death
in August of that year.