Show ARRANGE DETAILS DETAILS' Ul or OF STEEL MERGER Tennessee Company Stock Being Deposited With M Morgan organ MANY WANT BARGAIN Profits of Years to Be Reaped by Big Corporations Corpora Corpora- New uw York Nov ov o 7 Deposits Deposits po Hs of or Tennessee Tenn essee Coal ConI nail mil Iron and railroad stock were ted matte malo toddy with J J. P P. Morgan un and company in JR ll C carrying r. out the transactions tuns b by which the States s Steel corporation obtained tile the syndicate I e holdings of stock in ex exchange ex- ex chau change c for COr Hl steel el corporation bonds It ItIs ItIs ItIs Is estimated tl that at least lentiL of uC cn common will wUl be deposited United States StatcH Steel sinking ln fund B 6 per cint t bonds Will tIll be delivered Lu to the Un Tennessee Ten nl's ce stockholders before thic close of the week The flu deposits of stock In Include In- In dUds clude tho o of ce C John W. W Gates Gute Grant B. B o. o II H. Payne an and Leonard Leonar C. C 11 Hanna anna Application was made madl today for the listing on the stock exchange oC or 30 steel sinking run lURid fund I b per ocr cent bonds supposed d to 0 b ll Ii In payment t for fIn forlie lie tho Coal Iron iroil and md railroad stock Quotations In Tennessee Coal and aull Iron which have ha been becu as high as 1 5 thu this week dropped o u a n price pIleo conforming con con- forming with that hint at which the steel corporation pa pays s 's in Ill getting control of the company The Tue Tennessee ift stock was taken over b by the thc stool steel corporation on a l basis of approximately u a 0 share payable in United tI Stat States s Steel bonds at par As the thit bond bonds given an ary valuation valuation val val- of only to j this lids accounts for the lie apparent pi JJ on stock A of or was wt made for fOI United d States stute Steel bonus bonds on the stock ex exchange ex- ex chan change t if It a holder I of ci Tennessee s C Coal and Iron stock should sell Hell his hlf bonds rl received In exchange t th he lie could realize i about u a share for lor his lila stock A member of oC th the nc s s syndicate toda today expressed d re regret ret at aL being compelled com coin to lo sell his lala holdings 8 lie He said If It there is any water r in lii th the United States Steel capitalization at present Sent it H would be ue eliminated by the acquisition nfl of thu tOI ho Tennessee oc property T The 1 Tenn Ten Ten- n C company ha has ht leen putting mil mu- lions III into luto to new con construction work ore the hl benefits Ot from which whelm were eie just about to be reaped rho Tho steel corporation will do llo the lie reaping It has hns secured a u bargain bar liar 1 gain aln which cannot be duplicated in a hundred years ears |