The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-03-11
WIRE AND WIRE-ROD TRUST
Everything is or Again But Further
Efforts viii be Made.

Cleveland, Ohio, March 10.-This weeks
Iron Trade Review will say:
Everything is off in the proposed con-
soldation of the wire and wire rod inter
ests of the country. This statement
might be qualified by saying that while
the original scheme, on the original lines,
is dead, something may be accomplished
in the next three weeks toward a merg-
ing of some of the important concerns.
But of this there is no certainty at pres
ent. An exact statement, though in very
general terms, is furnished by one of the
promoters of the combination, as follows:
The reports of the experts as to the
earnings of some of the companies do not
verify the representations which were
made, and the properties of these COM
| panies will not be purchased. Therefore
the consolidation as originally contem-
plated will not be consummated. 1t now
seems certain that a consolidation of
| some, If not a majority. of the companies
will be made about April l..
1.-The names of the companies referred
to in the above are not at present avail
able. 1t is understood that there is wide
! gulf between the valuation put upon the
properties of an important eastern and
western interest and the figure which the
company insisted upon-the difference be-
| tween 81. 600. 900 and $500. 900, according TO
some reports. This was the greatest, but
not the only difference which required
/ to be readjusted. The capital to carry
1 through the scheme was fully arranged
! for. it is said. but the bankers refused
| TO underwrite on the basis of the figures
! set by certain companies.
THE latter appeared not to consider the
/ advantages offered by the consolidat ton
/ TO be attractive enough to warrant the
| concessions in values they were asked TO
make.
/ THE amount of time and money spent
! thus far upon the project and the fact
that for several years the need OF better
adjustment in the wire trade has spurred
manufacturers to one and another scheme
| Of association, argue for some outcome
OF the present effort. Another week will
show more clearly than can be judged
today whether there is a chance for the
partial analgamation now contemplated
Thus far the market has not shown
any effect Of the failure 10 reach agree
ment AT New York; perhaps because the
trade has not been informed % the real
outcome OF last Saturdays conference.
The advance in wire nails which was 70
be $50 for March. was announced last
week. but Is now ineffective, 81 A. Pitts
burg being generally quoted. II is evident
from recent demand in nails and wire
that buyers have been keeping close 10 the
market and that stocks are light al along
the line"
Montreal March 1.-THE Grand Trunk
Railway company announced another cut
in rates, meeting the CIT made By the Can
adam Pacific yesterday.
London. March I0-Sir George Lawson.
X. c. B. the assistant under-secretary ot
war IS dead. He was born II ISss, and
entered the war Office II ISIS.
Shang Hal, March I0-An English
steamer has successfully assembled The
Yang Use rapids as far as Chung King
province % SEE Given. At the junction OF
the haI Lin Klsng with tie Yang Te Tss.
thus opening 70 navigation the most Ter
tie tract OF the Yang Use valley The
Chinese authorities have announced their
determination 10 remove al Obstacles
with dynamite