| Show T S Proposed Steel Combination Was Fea Pea Feature Feature ture tune of the Week New York March 1 Bradstreets financial review tomorrow will win say The predominating influence in the speculative world this week was the proposed combination of the Carnegie I company and the other prominent steel manufacturing concerns When the New York stock exchange adjourned on Thursday last for a three days holiday it was fully expected that the resumption of business on Monday would be attended by some definite an announcement announcement announcement about the matter This hope was not disappointed as the man managers managers managers agers of the deal made public the terms on which holders hold rs of the com corn common common cornmon mon and preferred stocks of the half dozen companies which are to corr coir into the new combination are arc to L 1 invited to exchange their holdings fo to the new shares The preliminary incorporation of prospective rust trust under the title of the United States Steel cor corporation corporation also effected and vari various was wa van vanOUS i ious ous other details were made known I about the financial arrangements con connected connected I with the execution of the plan I This served to divert speculative ac activity activity and attention to the industrials and heavy heaY trading ensued in the stocks of the companies included in the deal dealas as well as in the securities of the new nw combination the latter of course be being being being ing deall deaU In on the curb market in the form of contracts for the delivery of tae te stock when and as is issued issued issued sued The activity in the latter stocks there was considerable the prices ranging all the way from 35 to 40 for forthe forthe forthe the comm v and from 75 to 87 for br the preferred There were also heavy dealings both bothin in and out of the exchange in the con constituent It stocks s a good deal of which seemed to he be arbitrating trades des nr ir Ir purchases and sales or vice versa of United States Steel stocks and those of one of the tho other companies based on the apparent margins between the market prices for the old and the new stocks and the figures at which the former Cornier securities are to be exchanged for the latter There was vas also not a little tittle of what th tit street thought to be selling in some of the steel s el stocks and it would seem notion that the pub I He tic failed to develop any great disposE disposition tion to trade In that group Finally prices for the various stocks stoc s directly Involved in the deal were re readjusted readjusted readjusted adjusted in some some proportion to their respective positions p under the terms of I Ithe the consolidation and anti the volume of transactions In III them fell to moderate |
