The Trust Problem in the United States

By Eliot Jones | Go to book overview

CHAPTER IX
THE UNITED STATES STEEL CORPORATION1

With the early history of the iron and steel industry we are not concerned. Even as late as 1890 there were practically no combinations of the modern type in the steel industry. To be sure, the Illinois Steel Company, for example, had been organized in 1889 as a consolidation of three erstwhile competitive concerns, yet such combinations were unusual. During the early nineties, however, the situation changed. The individual plants not only continued to expand in size, as during the eighties, but they became united in combinations. In 1891 the Lackawanna Iron and Steel Company was incorporated, a consolidation of the Lackawanna Iron and Coal Company and the Scranton Steel Company. In 1892 the Colorado Fuel and Iron Company was organized to unite the Colorado Fuel Com

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1

On the United States Steel Corporation see: Report of the Commissioner of Corporations on the Steel Industry, part I, Organization, Investment, Profits, and Position of United States Steel Corporation ( July 1, 1911), part II, Cost of Production, Preliminary Report ( January 22, 1912), and part III, Cost of Production, Full Report ( May 6, 1913); Brief for the United States, in two parts, in United States v. United States Steel Corporation (no. 6214); Brief for the United States, in two volumes, in United States v. United States Steel Corporation (no. 481); Brief for the United States Steel Corporation (no. 481); 223 Fed. Rep. 55-179; 251 U. S. 417-466; House Report no. 1127, 62nd Cong., 2nd sess. ( Stanley Committee Report); Report of the Senate Committee on Interstate Commerce on the Control of Corporations, 1913; Industrial Commission, vol. I, pp.849-1039, and vol. XIII, pp. 448-516; Berglund, The United States Steel Corporation; Wilgus, A Study of the United States Steel Corporation in its Industrial and Legal Aspects; Willoughby, Quarterly Journal of Economics, 16, pp. 94-115; Meade, Trust Finance, ch. 11; McVey, Yale Review, 7, pp. 302-318, and 8, pp. 156-172; Walker, Quarterly Journal of Economics, 20, pp. 353-398; Taussig, Some Aspects of the Tariff Question, chs. 9-10, 12-13; Dunbar, The Tin-Plate Industry.

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