Life — December 26, 1901 — page 23: what you’re looking at

Machine-transcribed from the original scan — historical spelling and the odd misread are preserved.

A Heap of Scrap Steel “ Jupiter Steel” is not made up of in this respect in New England. So absolutely new material, but refines aan > Say] successful has the venture proved and regenerates, as it were, scrap > x | that the United States Steel Company steel that has outlived its uscfulness. a : - ma has found it necessary to increase By this process of alchemy a worn- z a mee rN its plant. Ground has already been out boiler plate or a broken flywheel ae f oi broken for an addition to the build- becomes keen-edged axes or swiftly ff een ¢ **| ings amounting to fifty per cent. of moving steamboat walking beams ff : 4 the present plant. While this addi- and begins again an important exist- Z S23] tion of 100 feet to our plant means a ence. The manufacturers from [i mS 3 M total of 300 feet, still our General whom scrap steel is bought receive : : s Manager, a competent stecl expert, it again as tools, shafting and machin- § ——_ _= : advises further additions. The fol- ery. For the first time supply and lowing letter to our Board of Direct- demand are brought close together ‘The materiel from. whieh “Soplter, Steel” e-made: ors explains the situation exactly : BOSTON, NOVEMBER 11, 1901. UNITED STATES STEEL COMPANY, Boston, Mass. Gentlemen : \ have your esteemed favor of November 9. requesting my opinion as to the advisability of increasing our present plant. The situation briefly is follows: With our plant at Everett we are so overrun with unsolicited business that we are constantly in danger of displeasing our customers by delay in filling orders. This condition will be partially improved as soon as our addition of 100 x 130 feet now under way is completed, and the new fifteen-ton crane in position. While this means a total of 300 feet in length for the main foundry, I am of the opinion that it should be immediately increased to §00 feet to fill the orders that the mere knowledge of our capacity would bring to us. But there is another field for Jupiter Steel not yet touched by our Company. which would be a very profitable one. There is a large demand in New England for heavy steel rolls in roller mills and rubber factories. These rolls weigh from 1,000 to 20.0co pounds apiece, and we have already turned away many orders on account of being so full of other business. The making of these rolls by day and the pouring of stecl billets at night would easily take up the capacity of another complete plant, the duplicate of our present one of a length of soo fect. _ I believe that both of the above additions should be built immediately. and would greatly increase your idends You have a splendid location, with unexcelled railroad and water facilities, for the growth of a plant equal to those plants with which I have been connected and to which you refer. Very truly yours, Cisse a The above 1s tho advice of a saccessful and practical steel manufacturer who found it to his advantage to leave the Midvale Steel Co. to Improve his position ard identify bimeelf with the steel-casting department of the General Electric Co. as Superintendent, officiating with such for six years. From the latter connection he en sidered it to his interest to associate himself with the United States Ste: Co. as Genet er, realizing the great superiority of our product. This should be sufficient evideuce of the vast strides and advance of Jupiter Steel Castings, Fal Mansners eee peso After long deliberation we agree with our General Manager that it Is to our advantage to immediately enlarge our works to the extent recommended, to take | care of the New Enzland business that {s legitimately ours, and for construction Will sell 40,000 of the 230,000 shares now remaining In our Treasury, at par, Five. Doteans per ebare, full patd, non-arsessable, and drawing full regular quarterly Our foreign patents, now being negotiated, show conclusively a sourco of dividends of 8 per cent. (12 per cent. per annum), the neat being payable January | dividends equal to the entire capitalization of the Company. As a rule, stock In 27,1902, It has been our experience that this opportunity will not long be open. as | well managed manufacturing compantes {s generally bought up by those la some General Manager. The United States Steel Company bas been paying for the past two years quarterly dividends at the rate of t2 per cent. per aunum on all its outstanding stock, and it is expected that this dividend rate will be increased as soon.as wecan enlarge our plant at Everett, Mass. oar previous offerings havo invariatly been oversubscribed, tbe last by some way connected with their management and the outsider has little chanceexcept $25,000, which we are now filling from this block, and deem it advisable that you atahieh premlum and a correspondingly low profit. But this is an unusual sive our investment your prompt atteotiun. opportunity for people of Itmited means to secure an investment already paying a large income, an opportonity such 98 {s usually offered to capitailsts only, and the man with a few bundred dollars gets. achance. In this connection it will be noted that the Scientife American published an article on Jupiter Steel illustrated, on the first cage of the edition of Oc:obcr 12, and described in the following pages. This was very flattering tons, and we consider it the best indorsement that Jupiter Steel has ever received. To those who are interested a copy of the same, with a full prospectus of the Company avd a record of what has bren accomplished fn the past two years, wi'l be mailed on application. Preference will be given to subscriptions os in the order of thelr receipt. All accepted subscriptions will draw tbe full aa L regular quarteriy divitend of 3 per cent., payable January 27, 1902. 7 : One view of the present plant (200 x 130) at Everett. Mass., a suburb of aad Boston, where the Company owns seventy-four acres of land, having both rail and water facilities. On this land a modern plant, 200 x 130 teet, has been built, provided with electric craves, furnaces. drying Ovens, gas prodacers, boilers, engice, dynamos, send blaet, crucible plant, finishing machines, offices, etc. Acordlal invitation toinspect the plant at Everett isextended to all who are looking for a safe and legitimate investment. Those who cannot do this will bave any Information desired sent to them promptly npon application to, the Boston office, 188 Oliver Street, Boston, Mass. Make all checks, drafts or monry ordera payable to the One view of the present plant (200 x 130) at Everett, Mass. United States Steel Company, 186 Oliver Street. Boston, Mass.