Friday, 29 August 2008

James A Farrell

James Augustine Farrell - President of US Steel

James Augustine Farrell (1863-1943) was President of US Steel from 1911 to 1932. A major business figure of his era, Farrell expanded US Steel by a factor of five during his Presidency, turning it into America's first billion-dollar company. Farrell was also a champion and early pioneer of export markets, who massively expanded US steel exports to the world with the help of the shipping subsidiary he founded, the Isthmian Steamship Company.

President of US Steel

Cognizant of his obvious talents, the board of US Steel appointed Farrell President of the company in 1911, a position he would be destined to hold for another 22 years until his retirement at the age of 70 in 1932. During his time at the helm, Farrell presided over a fivefold expansion of US Steel, turning it into America's first billion dollar company and the US steel industry's number one player by the mid-1920s. The scale of his achievement can be measured by the fact that in the 74 years since his retirement, US Steel has not significantly increased its share of the US steel industry.
While head of United States Steel, Farrell increased the steel output of the company from 6 million tons to 29 million tons. Upon his retirement, United States Steel owned over 1 million acres of coal and coke properties, 25 railroad lines with nearly 3,000 miles of track, and 700 sailing vessels. In 1931, Farrell oversaw gross sales of $730 million and over 53,000 full-time and 150,000 part-time employees.
The first concerns the Knights of Malta. They have a very convoluted history going back to the time of the first crusade in 1099, but it was Leo XIII who in 1834 allowed the Knights to established their headquarters in Rome. The American branch was founded in 1927, in 1941 Francis Cardinal Spellman is the “Grand Protector” of the order, and a lot of the American knights are linked to the unsuccessful attempt to stage what amounted to a fascist coup in this country that was designed to put General Smedley Butler in power. Butler was tapped by these people to head up a new government but he blew the whistler and implicated a number of Maltese Knights including John Farrell, then the president of US Steel, and Joseph P. Grace.
The American Association of the Sovereign Military Order of Malta (Knights of Malta, SMOM) was founded in 1927. "By 1941 Francis Cardinal Spellman was listed as the 'Grand Protector' and 'Spritual Advisor' of the Order, with John J. Raskob as Treasurer. Members included John Farrell, then President of U.S. Steel
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