Business & Finance: U. S. Steel Common

To Myron C. Taylor was given last week credit for finishing what the late great John Pierpont Morgan began. Mr. "Taylor, brilliant chairman of the finance committee of U. S. Steel, announced that, at their annual meeting on April 15, stockholders would be asked to approve an increase in authorized common stock from some 7,500,000 to 12,500,000, thereby potentially capitalizing the company at $1,250,000,000. From new stock to be issued at terms to be fixed, cash will be received to redeem all the bonds of the parent company. Thus Steel common becomes "as good as a bond," which was the...

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