Report of the Commissioner of Corporations on the Steel Industry ...: Organization, investment, profits, and position of United States Steel Corporation

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U.S. Government Printing Office, 1911 - Steel industry and trade
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Page 401 - Nothing herein contained or otherwise shall constitute the parties hereto partners, or shall render any one of the Subscribers liable to contribute more than his several proportionate amount as herein provided, or shall prevent any of the parties from contracting with each other with reference to any of their respective interests.
Page 404 - Nothing herein contained shall be construed as creating any trust or obligation whatsoever in favor of any person or corporation other than the subscribers, nor any obligation in favor of the subscribers excepting only as herein is expressly provided.
Page 246 - It is proper to state that JP Morgan & Co. are to receive no compensation for their services as syndicate managers beyond a share in any sum which ultimately may be realized by the syndicate.
Page 398 - ... dividends upon the preferred stock, there has been inserted in the charter of the United States Steel Corporation a provision to the effect that whenever all quarterly dividends accrued upon the preferred stock for previous quarters shall have been paid, the board of directors may declare dividends on the common stock out of any remaining surplus or net profits. Statements furnished to us by officers of the several companies above named, and of the Carnegie Company, show that the aggregate of...
Page 387 - Company, and all of the outstanding shares of the capital stock of all of said corporations, upon the terms herein provided. Now, therefore, in consideration of the premises and of other good and valuable considerations, and of the efforts and expenses which both parties recognize will have to be made and incurred by the Syndicate in their endeavor to consummate such sale : First. The Steel Company agrees with JP Morgan & Co., acting in behalf of the Syndicate, as follows : (1) If, on or before May...
Page 69 - We, the before-named companies and corporations, manufacturers of steel rails, hereby mutually agree one with the other, that we will restrict our sales and the product of steel rails of 50 pounds to the yard and upward, applying to orders taken by us and to be delivered by us or from our respective works during the year 1888, as hereinafter allotted and limited ; and we respectively bind ourselves not to sell in excess of our current allotments, without first obtaining the consent of the Board of...
Page 404 - Co. shall not be liable under any of the provisions of this agreement nor for any matter therewith connected, except for good faith in performing, or in refraining from performing or carrying out, the obligations by them herein expressly assumed ; the implication of any obligation not herein expressly assumed by them being hereby expressly denied and waived. It is understood that, in the same manner as other subscribers, JP Morgan & Co.
Page 71 - ... change in percentages as aforesaid: The Board of Control shall be required to call a meeting of the parties hereto when requested so to do in writing, signed by any three of the contracting parties, but such request and such notice shall state the object for which such meeting is called. It shall be the duty of the Board of Control to have a proper record kept of all the returns made to it, with power from time to time to change the form of return as they may deem expedient. The Board of Control...
Page 400 - Co., of the city of New York, parties of the first part, and the subscribers hereto (hereinafter called severally the "Subscribers...
Page 390 - This agreement, made this eleventh day of September, one thousand eight hundred and sixty-eight, by and between Messieurs Schepeler & Company and Messieurs Baltzer & Taaks, of the city of New York, parties of the first part, and John F. Pickrell, also of the city of New York, party of the second part, witnesseth.

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