STEEL TEEL TRUST TO ISSUE NEW BONDS Plan Ian Jan Discussed to Convert Part If Not All of Preferred Stock Into Bonds NEW EW YORK Feb 19 George George W. W r. r chairman of ot the fin finance nce com- com United States Steel cor cor- tort atte of ot the 1 arntson ration said today that there was now under consideration a plan t to conEt cont con- con Et t part If It not all of the preferred Eck ck of the corporation into a 5 per pert perc c nt t bond Mr Perkins said he tho thought that tha Rich such fuch action would be for the best Inter Inter- interests Interests ests eill of the stockholders According to She he report Issued early this month the steel corporation has a bonded debt of ot These bonds bear Interest St ut t the rate rae of of'S 5 per cent the same rate that Is mentioned In connection with the proposed preferred stock conver conver- sion Flon I E The amount of preferred stock Issued is on which 7 per cent divi- divi tir f paid