The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-10-09
Gigantic Organization With a
Capital of 5000, 900, 900.
AN UNLIMITED CHARTER
II Has Been Granted the Right
to Go Into Almost Any
Conceivable Business.

thousands. IL is now. literally. hundreds
OF millions. The ten-milIion mark.
once reached. seemed prodigious. the
hfty-millisn fabulous. Yet Of late there
has arisen an organization with a cap
ital of two hundred millions. In com
merce. II seems. the American aptitude
for big things" is growing apace.
This two hundred million dollars
within one concern represents steel.
The big new enterprise. which has be-
hind IL three times the money and
properties the Sugar Trust can lay
claim To N more than twice the
mount Invested i'm standard Oil. is the
Federal Steel company. No manufac-
turing combination was ever capital
lied at such a figure. Some few rail-
roads of many branch lines. such as
the Atchison. whose capital stock Is
s222. 900, 900. have been. but for an indus
trial concern the greatness of the new
company passes all standards hitherto
set.
Because of IL the iron and steel trade.
perhaps Americas most representative
industry. certainly one of its very
mightiest. may undergo a commercial
revolution. What the
Will be no one attempts to prophecy.
Too much uncertainty hangs over what
the Federal Steel company means To
do. That IL can accomplish almost any
thing cannot be denied. Besides ample
cash in hsnd-it will have a clear ten
million when the final negotiations are
complete-it controls two of the largest
steel works of the country. an iron
company owning and operating huge
ranges of ore-the most extensive In
America-and half "A dozen lines OF rail-
road.
This to-day is its plant There are
other steel works, other bits Of property
the new company is reaching for
among them a wire mandatory. to
handle a portion Of It's ray products
but with the works above mentioned
(when certain extensions now being
hurried along are inished) it's product
will be one-third Of the total steel pro-
duct of America.
The figures are interesting. and taken
i'm detail they go To show something OF
what this new company signifies. Last
year there were produced in America
5.475.3l5 gross tons OF Bessemer. 1905
67l gross tons of open hearth steel. a to-
tai of 1883. 1856 gross tons. This years
production will be very much greater.
at least 10 per cent more, quite pos
sibly 20. This would meal a probable
output of 5000. 900 gross tons. OF his
the Illinois Steel company and the
Lorraine Steel company will make. to-
gether. 1000. 900 tons. These are the
two great companies that have COM
bined to form the Federal steel. that
are its nucleus. The Illinois is much
the larger of the two. producing three
quarters of the total. but the Lorraine
plant is being rapidly extended, new
furnaces being already under way.
Thus, at the very outset. the Federal
steel Is certain Of making a fourth OF
the total steel output Of America this
coming yea 1t is in negotiations. fur
thermore. will yet another great steel
company-the Columbia OF Johnstown.
Pa. From the Minnesota Iron rom
~pany-the third great factor-it can
get all the iron ore IL can possibly
need. And the chain of railroad To
haul the ore from mine to Is
complete.
with the coming into existence OF
this huge new company-this consoli-
dation of miners, steel makers. freight
haulers and possibly wire makers-a
rival at once springs mp to the Carnegie
interests, up TO now by far the heaviest
operators in steel. The Carnegie mills
last year made 1900. 600 tons of steel.
Bessemer and open hearth. Thus the
Federal and the Carnegie will manu-
facture this coming year very close TO
II not quite two-thirds of all the Ameri-
can steel.
There are 80 other steel comnanies
concerns of considerable size and
powers. all reaching for the remaining
or . O0o 600 or Z Oo0 ooo TONS win car,
nesie alone in the field. the business
was hard enough IN pet Wbat 10 ,,iII
he when this new concern of huse cant.
tai reaches out, constantly extending.
n does not seem hard TO prophesy. The
steel men saw. with o-ninous waps az
the head. that desirable properties will
sooner or later be added 10 the hold
ings OF the steel trust" hat the others
will find all the profitable contracts
'gobbled up" before they can get at
them:
The precise position Is this: The Fed
eral steel and Carnegie. whether they
will fight and lower prices. or whether
they will cement an entente cordiale
and hold them by mutual agreement.
have the say as regards the steel
trade. Other steel makers must go INTO
the market ana bid on open change