United States Steel Corporation Directors Twentieth Meeting April 1 1902 PDF Download

Excerpt from Preliminary Report to Stockholders of United States Steel Corporation: To Be Submitted at the First Annual Meeting, 17th February, 1902 Eight directors whose terms are about to expire being those of the first of the three classes, viz.: Marshall Field, Daniel G. Keid, John D. Rockefeller, Jr., Alfred Clifford, William E. Dodge, Nathaniel Thayer, Abram S. Hewitt and Clement A. Griscom, will be candidates for re-election at the annual meeting on February 17th, 1902. This preliminary report covers only the first nine months of the Corporations existence, a period too brief to satisfactorily organize and systematize the business, and necessarily it lacks the fullness and definiteness of information which it is hoped will characterize future annual reports. But the management feels fully justified in stating, that much that at the time of organization was hoped to be accomplished in the way of avoiding wasteful expenditures for unnecessary enlargement of plants by various prominent steel companies, and of establishing harmonious cooperation among them has been successfully achieved. The several companies have effected many economies which have been attended with most satisfactory results, and the outlook for further improvement in this direction is most gratifying. The business of the Companies has been put on practically a cash basis. The losses actually incurred through bad debts have been very small and little, if any, loss in the collection of accounts and notes receivable is anticipated. About seventy percent, oft he total current monthly accounts due from customers is now being generally collected within thirty days, and it is the effort of the several managements to maintain the businesses on a strictly cash basis. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.