Show COMBINE IS FORMED IN STEEl I I Rockefeller flow w Has au an a Absolute Monopoly of This Jj Great Industry in the tile UnIted States t I 1 fc Interests Makes lakes Him Master With Smaller ft S Sale of nf CEEt at His Mercy t i i concerns I i i i Y I k ro P b IThe New I I f i a Practical mO P bi e n t t te I accent accentI is an 1 the tut th I d stoics States ill I result of f Andrew An d re f fad t as a I It II Ic of his C t vast Uh Ith IU its Itaf 1111 am rn ie f nl ni i i on JD I cl else cle e at hand band of foat f cU al an It 1 1 i t ui ill t 1 t parent to produce t te raw erial enS fr or tile the varIOUS cor COi corl COite l I rat on man finished pl pro be bed beI 1 that can ec and 1 tte the t hl I II I 1 ro td d throat cooperation and I I ill make ft 11 P PCP te for tor fort the ue corporations corporation to mann maou a af t mistrial aral cheaply as TO DRIVE I f fI urr goo goods so 90 OUT OF 01 ll 4 t OM KI si NESS and ad to give K Te to CO American Amea place In hi the mar mark 15 a larse m manua tir k tt of f the te world I I The fc Post says The leading lading participant l is the tIN deal dealon I on tin the iDl sIde ide t were reported to 0 be bt 0 I M II t ab no now president nt of and a ti U h arn tie t 1 ot of Carnegie and nd bank 11 ill lug interests t ity by y J 7 P 3 Mor Morg MorI MorSian g Sian in Ie fo Co the deal might I What further scope COP of conflicting te lux II h lOiS WI a C A representative of tOte Ie e et t KI interests asserted a today that n a t bad been practically call whereby the Carnegie st i Federal awl ad National Steel com comI I tin nit s and tile tte American Steel A I Wire t and be t mi m would combine d ti und r the sine same management hitch is 18 s en I j Unless ni n ss S me ee unforeseen in the remaining 1 1 nv the lite amalgamation beme will go p ph goi h r u h with aa aJI enormous i n Wither would be bei i i ri to float flit the die enterprise e the tk i representative could not DOt DOtI flay It I t I i ii understood od that mat the undertake in inK II u las the backing of rt Carnegie Mor m n a nil ini interests Bankers An Ars Astounded lisa Hov the banks would mould feel toward FU Fl h I a it venture was the subject of 01 gen gee geni i r rl ii its ossion in financial circles The TIle of I an institution i closely elliS amu ir d I ith interests allied in the venture f l M 11 is asked tl today c Vs As t a hanker flanker do 1 r you yon believe New ew k hanks vu will ill be lx willing to finance L f h ii in Ii t ii I Nn II nt ne n knows IC N was the ret i ThI Th The I je t I i is t I o colossal coo l T ft for r r inar i i d l to 1 I have hae no n nOt t al ed I If vet al though although I 1 am familia faint ha hah h I the outcome of yesterdays yest it i ns l significant perhaps t Ihl i I Matt ment front f a banker of prom preen I i nw i fl ii TI t asked about tile the Carnegie I sis If If lIthe the affair means financing anel i IHM I or r venture ventu the in r adil lily put it through HT It I 1 in III 1111 re r propitious than when the S us 1 ir po for tor a great in f teel IreI interests Int rests received le my s sI aa I nt 01 II t tw I a years veers ears ago o Then I was per perI ih I i to accept the plan plait m 1 mI ni lr 1 f n II wa I t iS reasonable then it 1 T 1 i IS n lIW 1 w A billion dollar corn eom m I 1 n 11 if u h i ie N quarter of that sum in ac an n 1 a h Perhaps considerably bly in a mould put It through I i 1 I 1 I I in enterprise backed harked by tOte the Car i 0 i 11 ani n I inter sr t mid iti ii any opposition M h I heme would ordinarily en enni enI 1 r I T rT r ni my mind the undertaking is the ir e Ct close to a remarkable I i s ar r Kr Mr Carnegie has baa had hadt t II t h to r I a n e 8 e that the steel situ 1110 th I States had bad gotten n t th iii domination n of any single Ij 1 I that t th aj i Ise e course couy to t pur i l ne tit 1 a h i rm mony mon n arrangement t I ri to t I vent tnt destructive 1 t r and iii i p ie t his own oan oa inter e I h T tl know has haa been 1 I i r 1 v a at and ani it It lt was an ac act anI t I al I t ve eria s conference a n table achievement achi Carnegie to Retire V n 1 Express says M XI iM 11 1 that Mr Carnegie will I ru u life Ufe The j terms tense of 1 7 S art t known but bat t that iI r 11 1 n K tu ha h l h I t n i completed was wastI 1 an tI i un Uti el i at noon to toK tos to s K f the Carnegie 1 10 There is i an ani 1 or h i 11 i Mr M r Carnegie Ii I I un n a about Si 14 Sie c I II lie e to this t im I ku J iv is been n going on o I M Ir Carnegie has aj for tor tort a 1 l I I t I to sell lieU out 1 I tnt t s have e not until biH f J take up so large Ja n i i t ne purchase pure of his III I th I a of the them 1 prIn m t ii steel companies in InT InI T I oi g involve t i 1 Ii wt occurred in the c 4 up p to the transfer In r It Carnegie farne 4 company n r 1 I bonds held beM by Mr i Irm n i agreed v k at something ufo e but hut Mr Carne Came In I n tenacity t ity of ofu u 11 i of tile the th i per r i of ui 1 I Iia conceded at atis I is understood j c n ai I i partner r r Ros 1 t I tan discuss or to f in Clever stever P Morgan A Av Aai o Orian ga an In rests ats Confer Coner If tf I Id ia in the Morgan r V l Ir Mog MogI Prea t it dt deral ral I I Steel cs i rt r ii I of the t I American A i 1 r and antI a director in Nit 1 I Steel l r ri an ROOF Hoop B lal r which Mr III r wh who h i lI at j Mr lr Came ii ll t I ll that at Mr Carnegie I hat r to say iii I hn Fh 1 Z en an i T ill ul Steel Steell y l f and the a at I t r h om d I lt D ad adr sa ny i bile ue properties P the National al Steel corn com I tile the American TI Plat IlaU company I Wee Hoop company om and d the Amer Aster America ica lisa ka Sheet Steel company bave shown a tendency leniency to work in III harmony harmoDy with withaM the aM etite corporations named The Car Carnegie negie company has haa offered a position llO ot of isolation and lid has hu ha pursued a general policy of entire en ire are independence a which has han been felt by competing lug ing I ta and has bas involved the con colt conI constant I stant ta t possibility of the outbreak of hoe boa hostilities In some quarters or 01 other with I ts probably disastrous to th the companies involved Xay iCay Be De Community I The policy of a great financial in IR interest terest ij j represented by the name DUne and d dof Of J Pierpont Morgan has baa in la inthe lathe inthe the field been one of hanson harno lung Its guiding principle being belag that of or the community of control say eels the TrIne Tribune and it t is possible that that t policy will wilt be adhered to in the Ule steel I In 1 other oUter w words words it is not that the t often otten rumored billion di th d tr tl steel 1 combination c will follow fellow upon he ac an acquisition of tile tae control O of the C t negie I company there th re being a possibility sib po hy that thal the Carnegie company may continue to toe toe oe e e operated as a separate organisation but in ID complete com lete harmony henceforth with rh the other great grat steel corporations corp the policy of which IB lIB shaped by the powerful interests which have h ve now non come Into possession of the majority of its ita canta stock Important economies can of course be instituted by the bringing of the tb Carnegie Carnese company into line with its Us fainter competitors both in operating I expenses expensed and anil through the practical pooling of ot manufacturing work and of output but the harmonizing harmonising of the company it Ii is felt will have havet haveit I it t greatest t effect eff in the die future when the Ute tot time steel products pr ducts falls fails oft off and aDd the margin of profit decreases Prick Loom Lo It has long been an understood fact that bat Mr Carnegie wee was desirous of or re ra retiring tiring from active business and in the spring of or 1891 tt It was wan authoritatively stated that he be bad had sold enid bis lle interest in inbe Inthe inthe the be Carnegie Steel company but ut H C Prick to in whom be ho had given the e op option optie option tion tie found it to carry through the operation and he be and aRd his ide t MC a But Bat conditions Intro have materially changed in the last two yeses eh ehnow now in hi control of nf the Carnegie arnle interests are vastly stronger in the die world of 0 finance than th the men who planned the t e great creat steel combine two yeses years reports seem to indicate that Mr 11 Car Oar Carnegie negie negle has bas obtained a higher price for his stock than was is as indicated in the proposed great steel 1 combination of Ofis ISM is Railroad i ao steel experts ac no accounted counted for this in two ways First that the price of stock ek in general ge eral and aDd steel stocks in particular had advanced during dUling the two years ars second that Mr Kr Carnegie having built buitt an important railroad line from his plants in western I Pennsylvania to Lake Erie and having baring I undertaken n large operations in conner connee connection tion thin with the town and harbor harbot of fon on onI I nau county Ohio and hav hay having hayI I ing Iq planned an independent railroad throughout Pennsylvania to tidewater MI well was w m jn a position to ask from the men associated with J T P Morgan Morgana a higher price than be he could have ba E ob 00 obtained tined two years yearn ago Companies Involved in Deal The Carnegie C company has stock and bonds bends The com om companies panle in la which Mr Morgan is Inter Interested Interested ested are capitalized capitalised as follows Federal I Steel company common stork mock and o preferred of this I common and preferred preferred pre erred stock are outstanding American Steel A Wire WiN company com corn common common cornmon mon and preferred stock tock all alt outstanding National Tube company each of common and pre UP re farted erred stork stocK k all issued and the Ameri Amen American Amerian can an Bridge company 35 each of common and preferred stock of which of each has been issued The Morgan group roup includes the ln in Steel company with 3 32 of common stock and preferred referred sit all issued The American Tin Plate company common and preferred referred with common and preferred stok issued the American Steel Hoop H company 1 1900 00 common and 14 preferred stock all aU issued and andt t the N American Sheet Sh t Steel company conny 18 26 common and ind 26 preferred stock lock stock with of each Issued famed f Among the companies outside of ot these e etO two tO wo groups are American Car Ot Penn Foun dry ry company common and preferred stock all issued d the Pressed Steel Car company with Sa each of common and preferred stock sit ail issued and the Republic Iron IronA A Steel with corn com common cornmon m mon and preferred stock of which I common com non and NO toO preferred stock are outstanding Denied in Some Souse Quarters arters Q Some of the more conservative steel men claim that the entire transaction I is t very much like the OSt St Paul deal and that the significance of the present negotiations are being greatly great magnified In these quarters quarter the contention is t that no actual sale Ie or transfer of the control of Mf Mi gies immediate e interest is even contemplated ea ed but that tt what is III aimed at Is to a per perfect feet trade understanding or III in other words wont a unification of interests ta where whereby S by prices price will m he maintained and cern t in edin n laws In in respect to territorial rights laid bY down I |