The Superior times. [volume] (Superior, Wis.) 1870-1912, 1893-09-09
SUPERIOR, WIS.,. SATURDAY. SEPT. 8. lN95
The biggest fron Combine On EteE"fG.

,iicate and other eastern parties. HI"
MerrittS have held the balance OF
power in the iron country, and as Mr..
Lon Merritt has been i'll the east for
some weeks, and returned last week
beaming and happy, it was naturally
concluded that he had succeeded IN
his mission whatever that might have
been. On "Wednesday morning tn"
Leader said the combine of the various
forces had been arranged, and added
the following particulars III detail
The company will III time control
the ore market OF the United states
and probably OF the world. 1t Will
control fully nine tenths of the mining
clpacitv for BeSSemer ores OF the
United States and that part OF the
whole which can be more easily mined
than any Of the rest. 1t Will include
large mining facilities and shipping
railways from some OF the MINES 10
this city and from others to Ashland.
1t will control great fleet Of vessels
on the lakes with an aggregate carry
iny CAPACITY of 80, 900 tons, an or" re
ceiving pa and railway from Lake
Erie to the furnaces of PennsylN1lGa.
Members of The syndicate forming
this huge deal are heavily Interested
in iron and steel manufacture, both
east and west, and III the new COM
vii J.. l.,T.r,. he
Spanish American iron mines OF Cuba,
which are now competing with An-
..rican mines and laying down ore on
The seahoard at price To meet The
Lake Superior mines. even though
he latter are protected 10y Il - cent
duty
The new company has been in pro
cess Of formation for some time" y
heavy New York syndicate WAS m
,irei to advance money to c5mu.tj"
the railway from Duluth TO ~" sac
saba mines and operate the mines.
John ID Rockefeller advanced s75",on@
on the bonds of the railway. N.nrr
then the syndicate has been buying
min,.S and this idea of Il giant ColI-
bination has evolved.
The constitution Is not only lEo
the Standard Oil Company in lis con
troll OF the business IN which it takes
an interest, but Ike it in fact thit the
men who engineered the one deal haze
i4adt themselves the financial back
bone of the other.
The New York end consists OF John
-. Rockefeller ana some OF his init
mates, c. w Wctmorr and &. i.
colby, directors os the Northern Pa
elite road; Colgate iIoyt, president OF
the American steel barge company,
tx-Sccretary ". G. Whitney, l. T..
BARTLETT director of he steel Barge
company and several Others, and the
0u,utii end consists Of The five Merritt
brothers aud their associates. The
,ompany Is to be managed by five
trustees. IeOnedas Merritt. Alfred
Merritt and one other of Duluth, rep
resenting one interest, and {. "
Wetmore and T. +. Gates. the latter
private secretary to J. -. Rockefeller.
representing the other.
Head offices of the company viii b"
in New York, with branches At Cleyc-
land. superior or Duluth, while all I'll.
Individual companies entering thc deal
will keep their separate existence ana
headquarters III this city. Lon Merritt
Was elected president of the trust q
few DAYS ago. The company is capital
lied 1T a.ssu ,ooa, AL paid in, and the
Minnesota Iron company, which has
been the giant among the iron mining
corporations. VIII be Il pgmy in com
garrison.
Tire trust Is organized by taking
over a majority interest III the stocks
"f II To 1t Mesaha range mines, on a
valuation basis of 81 0o0, 600, the pu-
luth. Mesaha X Northern road and il =
ore ss'.ks ut West Duluth. the l3r""-l
DICKS i'm the world, at %2.OOo.nmu uH|
the Rockefeller interests on the '"thE
group uf Gngcbc range mines in .i..!.
i~an and WISCONSIN and the Same ga
s-restS III the American gross.
vi mines on the rast coast OF ta!".
other proprrtjr, VIII 90 in ana the
company Will also control the Au"gl
rrn Steel Barge companNs fleet Of
twenty-five whalrhack steamers ana
hlrtrpS for the ore trade. and ore fi-