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- Title
THE UNITED STATES STEEL CORPORATION'S BOND CONVERSION.
- Authors
Meade, Edward Sherwood
- Abstract
The article focuses on the bond conversion plan of the United States Steel Corp. in 1903. The plan offered to each preferred stockholder the right to subscribe to new bonds to the extent of one-half his holdings of preferred stock, of each subscription payable in preferred stock without any cash payments required. To administer the syndication, Steel Corp. has signed an agreement with financial services company, J.P. Morgan and Co. which contains provisions pertaining to the obligation of banks to preferred stockholders, bonds and preferred stock payments from stockholders, risk guarantees and compensation rules.
- Subjects
UNITED States; UNITED States Steel Corp.; STEEL industry; BONDS (Finance); STOCKHOLDERS; PREFERRED stocks; FINANCIAL services industry; J.P. Morgan &; Co. Inc.; BANKING industry
- Publication
Quarterly Journal of Economics, 1903, Vol 18, Issue 1, p22
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1882774