The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-09-19

old-time local interest In the project Is
asleep. II not dead.
1t all depends upon the consumma-
lion Of the tremendous omalgamatlon
Of iron and steel interests which has
been given the name, The Federal
Steel Company. If this great undertake
ing goes through, 1t seems assured that
the Connellsvllle railroad will be built
And It Will be built from Wheeling.
The Moundsvlile route will not re-
ceive consideration.
II is now well known that the Federal
company promoters intend to acquire
the Cleveland, Loraln 6 Wheeling
railroad, which runs between Cleveland
and Wheeling tBrldgeporS. WIN the
requirement Of this road, so 1t Is ASSERT
ed In the east, will follow the construe-
ton OF an extension OF the line ~ the
coke fields thus giving to the Bederal
Steel Company, what 1t undoubtedly
desires, its own transportation lines for
coke from It's own ovens in ConnellsYillc
field to It's own furnaces in the north
west. The Federal has It's own lines OF
lake freighters, which would take the
coke from the railroad at Cleveland and
transport 1t to Chicago, for use there by
the present Illinois Steel Company Zone
OF the concerns 10 be Bmalgamated with
others into the Federal Steel Company,
and for reshipment there by the COM
pany's own lines uf railroad to us other
plants, including those OF the big MINI
nes0ta Steel Company
THE WHEELING ROUTE.
OF course the requirement of che
Cleveland, Lorain & Wheeling road In
sures the selection of the Wheeling
route to the connellsvllle coke fields.
Possibly, too, It would mean the acquire
ment Of the Wheeling Bridge & Termin-
al system. II not, the Cleveland. Lorain
& Wheeling would necessarily have to
construct les own bridge across the river
from Bridgeport, and secure, at enor-
NOUS expense, right Of way through
or around Wheeling to the starting
point OF the extension that seems des-
tined to be built through to CoRnells-
Vile, So far, however, there has been
no intlmntion that the Wheeling Bridge
& Terminal Is included in the gigantic
deal now In PROGRESSES.
So far as can be learned. there have
been no efforts, 50 far, to 80 about the
actual preliminary work OF putting
through the Connellsville railroad, and
OF course until the Cleveland, Lorain
&. Wheeling road is acquired, nothing
on that line will be attempted. That
the Cleveland, Loraln & Wheeling road
Is likely soon tn become part Of the
great steel combination Is being general
" credited In the eastern financial press.
II Is a fact that during the last year
there have been many inquiries received
IN wheeling from eastern Investors for
information as TO The tonnage handled
In the Greater Wheeling district, and 1t
IS believed these inquiries came from
the financiers who have since partially
brought about the big Federal Steel
Company project. These inquiries were
promptly answered, and the favorable
showing recently made in the Wheeling
Industrial dlstrolct certainly encouraged
the promoters, whoever they are.
WHEELING PLANTS NOT IN 1T.
1t has been suggested that the big
steel combination would seek to acquire
control of the several large ircn and
steel establishments In and about
Wheeling. but diliEent inquiry falls 10
verify the rumor
The Federal Steel Company filed ar
ticles Of Incorporation few days ago
with thsseeFetaFy Of state OF NewJersey.
The company Is capitalized at $2OO0OO,-
900, consisting OF one million shares
each OF preferred and common stock, the
par value being 800. The preferred
stock is TO receive non-cumulauve dlvi-
dends OF per cent annum. beginning
January !, 1899, 10 be paid before diVi-
dends shall lbe given 10 the holders OF
common stock. In case the corporation
aN.1,f,,nH no hn11nFa nf UFnfaFFhN
stock are to be entitled To the par value
OF their holdings before the holders of
the common stock receive anything.
The lncorporators are: Charles c. Clun,
Charles McVeigh and Benjamin, C Van
Dyke, all OF 60 Grand street, Jersey City,
where the office OF the Corporation
Trust Company, through which the Fed
eral Steel Company was organized, is
located The Incorporation papers set
forth that $1,000 has been paid In. The
corporate office OF the company VIII be
60 Grand street, Jersey City.
WHY THE ROAD IS WANTED.
OF the Cleveland. Loraln & Wheeling
proposed acquisition by the Federal
Steel Company, the New York Times
The acquisition OF the Cleveland,
Lorain g. Wheeling Railway by the new
Federal Steel Company Is classed ns
one OF the plans Of the twO-hundred-
million dollar corporation which would
90 far to complete It's system OF trans-
purtatlon lines which are to play such ma
Important part In Its economies and
profits. The Federal at present pos
sesses the Chicago, Lake Shore and
Eastern, and the Chicago, EiEln and
Joliet roads. BY them It connects with
and delivers It's products at Chicago
Then the Duluth, Mesaba and Northern
and It's boat service on the lakes ena-
BILE the Federal to take It's ores from It's
own minea to the company's smelling
works al South Chicago and Milwau-
kee. Besides, the Federal owna In the
Connellsville coke region one Of tho
largest coke producing plants In the
United States With the Cleveland. Lor-
ain & Wheeling under It's control, the
Federal could, with the other auxlliarles
and at small cost short connections
link its coke ovens with its furnaces
and mills over It's own tracks and by
Is own water systems.
A rumor that the Fderhi viii absorb
the Carnegie works was pronounced by
those who should posses the best Of In
formation. as possible, but certainly
premature"
PLANS OF THE COMBINE.
The New York News Bureau says:
Tho recent activity and strength OF
Cleveland. L.orHln a Wheeling shares II
attributed BY those in position to knoR