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1901.) MARINE REVIEW. 15 was formed he became first vice-president and a member of the executive committee. Mr. Edenborn is largely interested in other enterprises. E. C. Converse has had a practical business experience since his boy- hood. His father, the late James C. Converse, was the first president of the National Tube Works Co. Young Converse entered the service of the company in 1872 at McKeesport, 'Pa. He went through each depart- ment successively, and in 1889 was appointed general manager. Mean- while he had organized the Republic Iron Works and Monongahela Fur- nace Co., which were merged into the National Tube Works Co. in 1892. Later Mr. Converse attempted to consolidate all the wrought iron and steel tube works in the United States but without success. He later succeeded in merging about twenty pipe concerns under the title of the National Tube Co. Mr. Converse was elected presi- dent. Percival Roberts, Jr., was born in 1857. He entered the Pencoyd Iron Works as clerk in 1876 When the A. & P. Roberts Co. was formed he became its vice- president and later its president. When the American Bridge Co. was organized he became its president. He has various other interests, being a railroad direc- tor and bank director. He has received a thorough training in metallurgy and chemistry and is a member of several engineering societies, William H. Moore is a man who has sprung into considerable prominence during the past few WILLIAM EDENBORN. years, He is a lawyer who has oe made a specialty of corporation law, and the firm of William H. & J. H. Moore have handled many of the important corporation cases. A few years ago the firm turned its attention to organizing industrial combinations. These combinations have become known as the Moore group and include the American Tin Plate, National Steel Co., American Sheet Steel Co. and American Steel Hoop Co. All these have entered the Steel Corporation upon very favor- able terms. There is another Moore property which has been formed since the Steel Corporation was organized—the American Can Co., com- bining the tin can factories and workers in stamped metal ware. This company is closely associated with the American Tin Plate Co. and is not unlikely to be admitted to the Steel Corporation at a later date. Mr. A. B. Wolvin, who has been appointed by Mr. Gayley to take charge of the movement of about 14,000,000 tons of iron ore and the management of 112 vessels, which make up the great lake fleet of the cor- poration, has had the usually pic- turesque career of the American self-made man. In fact, however, it finds its prototype in so many instances that’ its picturesqueness becomes commonplace. He start- ed in life as a cabin boy on the Dean Richmond, a propeller, of which his father was captain. first boat was the steamer Anne Smith, which he sailed in 1879, and he also commanded the Swain, the Raleigh and the City of Rome. He left the lakes in 1882 but returned in 1889 as vessel agent with the late Capt. F. N. LaSalle of Duluth. After that his career of advancement was rapid. He became manager of what were E. 0. CONVERSE. known as the American Steel & Wire vessels, including four steel freighters built about three years ago but still the largest on the lakes. He introduced various in- novations in the construction of lake freighters and showed him- self to be thorough master of a ship from its building to its oper- ation. He is also president of the Superior Ship Building Co., local manager at Duluth and Superior for the Great Lakes Towing Co., agent of the Western Transit Co., and is associated with J. J. Hill of Great Northern Railway fame in the construction of the two mammoth steamships for Pacific service now building at New London, Conn. Mr. Wolvin will have his headquarters at Duluth and will define the policy to be pursued in the management of the great fleet. Mr. Edwin S. Mills, upon whom as assistant general manager will fall a large part of the work of actual management of the lake fleet, and A. B. WOLVIN. distribution of ore at Lake Erie ports, will have his headquarters in Cleveland, where the greater part of the force of employes connected with lake interests will be located. Mr. Mills is a very young man. There is probably not in all the United States a man of his age entrusted with anything like the important responsibilities that he takes up with the open- ing of lake navigation. He was sales agent for the Carnegie Co. in the Cleveland district when that company, only three or four years ago, began buying iron mining properties in the Lake Superior region on an im- mense scale. He showed himself capable of caring for the important work of moving an immense volume of iron ore and managing later for the Carnegie interests the affairs of the Pittsburg Steamship Co., which built and purchased a fleet of some thirteen or fourteen steel vessels. The one thing noticeable in this giant organization is the young blood in it—that is young blood in its working force— Schwab, Gayley, Walker, Wolvin, Mills. There is method in it. Young blood means enthusiasm and energy. It means to dare. It does not mean as might be im- plied a lack of conservatism. The corporation has already given evi- dence of conservative manage- ment. It is going to move along carefully considered lines with well-matured plans, but it is go- PERCIVAL ROBERTS, JR. ing to move along them with irresistible force. Mr. Schwab believes in young men because he is a young man himself. He wants young men about him be- cause the possibilities of young men are infinite, while those of older men are more defined. One of Schwab’s methods, and one which, indeed, is provocative of the best work, is to regard every one about him as associated with him in the work. Rank is there- by abolished in personal inter- course and all work in harmony to one end. The corporation starts into ex- istence with probably the greatest impetus ever given to any cor- poration. All of its constituent companies have been unusually successful. One of them alone, the Carnegie Co., made enough money last year, it is said, to pay the interest on the bonds of the big corporation, as well as the 7 per cent. dividend on preferred stock, leaving the earnings of the other companies to provide for improvements, depreciation and possibly some sharing of profits among common stockholders. The corporation has tangible assets of the most valuable character. One hears now and again of valuable ore deposits in various parts of the world. At present much has been said of a deposit of lean ore, contain- ing 80,000,000 tons, in Norway, which Edison is to concentrate by some electrical process into 40,000,000 tons of good Bessemer ore. This great corporation has eighty times 80.000,000 tons of ore in the Lake Superior region, which requires merely to be shoveled upon the cars. It is a won- derful asset. It has two railways leading to these deposits, docks for handling it and a magnificent fleet of steamers. Its great advantage in the manufacture of steel lies in the abundance of its raw material and the cheapness with which it can be transported to the fur- naces, This one advantage is al- most unconquerable. It has the men, too, who have brought the ton cost of things down to the minimum. The fleet of steamers which the corporation possesses are capable of moving in a full season about 10,000,000 tons of ore. The cor- poration has need, therefore, for the present of possibly not more than 3,000,000 tons of outside vessel capacity. This means, therefore, that its ore production in the coming season will be be- tween 13,000,000 and 14,000,000 gross tons, nearly all of which will be consumed in its own works, The big organization has, of course, taken over from the mining companies some contracts that will force it to furnish ore to its competitors for some time to come, but the amounts involved in such obligations are not very large as compared with the aggregate output. These contracts are mostly of the kind made by the Rockefeller interests, involving the delivery of ore over a term of years at prices considerably lower than those that have prevailed during the past two years. WILLIAM H. MOORE. EDWIN 8. MILLS.