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Auction: SW1012 - Bonds & Shares Certificates of the World
Lot: 379

United States Steel Corporation. 5% Gold-Bond $ 100’000 Series B, New Jersey, 15 July 1901. Issued to the Carnegie Company, Trustee. J. P. Morgan founded the United States Steel Corporation in 1901 by combining Andrew Carnegie's Carnegie Steel Company with Federal Steel Company and Moore's National Steel Company for $492 Million. This was one of the most significant mergers in American History. In its first full year of operation, U.S. Steel was producing 2/3 of the total steel production in the United States. Andrew Carnegie (1835-1919) was a Scottish-American industrialist who led the enormous expansion of the American steel industry in the late 19th century. His policy of “putting all his eggs in one basket, and then watching the basket” was extremely successful. Carnegie insisted on being payed by Morgan in gold bonds for his stake. Carnegie and his Carnegie Foundation of New York were amongst the highest profile philanthropists of the era. In 1889, Carnegie proclaimed "The Gospel of Wealth" calling on the rich to use their wealth to improve society, and stimulated a wave of philanthropy. This paper probably is one of the most important US Bonds in US Corporate History. Nice vignette showing a company plant. Cancellation holes and stamps of J.P. Morgan & Co. EF.

Estimate
SFr400 to SFr800