Evening star., 1935-09-19
NEW ERA IS SEEN
|NSTEEL MERGER
u. S. Corporation Reshapes
Organization-To Spend
on Improvements.
By the Associated Press.


PITTSBURGH. September le.-
The United States Steel Corp. an
nounced new era" in its policies
yesterday in a tradition breaking
gathering with Pittsburgh industrial
leaders, in which its executives told
of vast internal reorganization and
of plans to increase its improvement
program to $4,000, 900.
General Counsel Nathan L. Miller,
former Governor Of New York, re-
ferred to the policies after Board
Chairman Myron c. Taylor and PreSi-
dent William A. Irwin had explained
physical advantages of the merger
of the Illinois and Carnegie Steel
Companies.
These changes are being made at
the beginning OF new era for the
steel industry" said Miller, which
may mean a new era for the country
as whole"
Closer Cooperation Seen.
He explained that the merger. in
which 70 per cent of the corporations
raw steel production and 29 per cent
y
direction from Pittsburgh. is not meant
for "diminution of either" but for
closer cooperation and combined
strength.
Steel men said it was the first time
the S2,500 10000 corporation has
taken industry and the public into its
confidence in such a manner since its
organization in 1901
More than 200 Of Pittsburgh's out
standing citizens, including Andrew w.
Mellon, his nephew, Richard K. Mel
lon; E. T. Weir. president of National
Steel; the two Pennsylvania Senators,
Joseph F. Guffey and James ]. Davis;
former Senator David A Reed and
leading bankers. university heads and
industrialistS attended the S5-a-plate
luncheon.
To Double Improvements.
Taylor explained that the new
Carnegie Illinois Steel Corp. has
more than 10000 employees whose
pay exceeds SllO.000.O0O annually.
He said the corporation is now
spending about $4,000 600 for plant
changes and betterments and Will be
called upon to double that amount in
the rear future.
We may confidently look forward
to that day when the present economic
readjustments shall have been COM
pleted and the normal pace of business
activity is restored, for we have with
in our borders the greatest consuming
market in the world" he added He
did not disclose any of the specific
improvement plans.
In presenting Carnegie Illinois
president. Benjamin F Fairless. Irwin
assured present executives of the old
companies that theirs has been a
"frst-class job"
New Blood Injected.
Without reflection on any ones
ability within the old organization. We
decided TO inject new blood into the
new set-up by inviting one Of the
outstanding young men in the industry
to ioin our forces" asserted Irwin.
FairleSs. a ruddy-faced athletic
looking former Youngstown resident,
has been vice president of the Re
public Steel Corp. He responded:
We are all going TO work to set
this company up and make it a credit,
not only to the steel corporation, but
to the steel industry as we'll"
Mellon Praises Corporation.
A. w. Mellon nd Samuel H. Church.
president of Carnegie Tech. responded
to TayIor's address, which assured
Pittsburgh it would continue to be
first in the steel world"
People should realize that the
United States Steel Corp. is a domi-
nant supporter TO the economic life of
our community" said Mellon.
Taylor and his party visited Car
negie's S15,OO0OOO plate-strip mill now
under construction at nearby Home
/ stead. after the luncheon. They left
last night for Chicago for a similar
gathering with Midwestern business
men.