The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-27
THREE NEW TRUSTS.
Combinations Formed of Steel, Acid
and Flour Manufacturers.


NEW YORK, Aug. 26.-Three big
trusts are about ready to do business
as the result of meetings in this city,
or of work done previously. They are
the steel trust, flour trust, and acid
trust. Representatives of the various
interests in the iron and steel trust
net again in Flower & Co.'S banking
office. Many points Of valuation were
decided in the merging of the Mime
sofa Iron company and the Illinois
Steel company.
A consolidation Of the great iron and
steel companies Of the United States
has been accomplished; the terms
of it have been agreed upon, and are
new being put into shape by some Of
the ablest corporation lawyers in the
country. The new combination in
cludes:
The Minnesota Iron company, with
It's Duluth & Iron Rrange railroad and
the Minnesota Steamship line.
The Illinois Steel company, with it's
Chicago, Lake Shore & Eastern rail-
road.
The Southwestern Connellsville Coke
company.
The Elgin, Joliet & Eastern railroad.
The Lorain Steel company, of Lorain,
The Johnson Steel company, of Johns
town, Pa, lately merged into the Lo-
rain company. Combined capital, $75,-
10000
The companies which are confidently
expected to join the combine are the
Cambria Iron company, the Bethlehem
Iron company, the Tennessee Coal and
Iron company, the Pennsylvania Steel
company, the Carnege Steel company,
combined capital more than $50, ,000, ,0O0
The leading manufacturers Of heavy
chemicals met In the downtown club,
60 Pine street. These are men who
make acids, sulphuric acid, nitric acid,
and the others which are used for a
thousand purposes in the arts and man
ufsctures.
The heavy chemists, the solid manu-
facturers, were not extremely COM
municative. 1t can be stated, however,
that the Nicholas Chemical company,
the Martin Kalbfletsch Chemical COM
pany, the Graseli Chemical company,
the Lodi Chemical company, James L.
Morgan & Co., and about thirty others
were represented at the meeting
The combined capital of these COM
ranies is $5O,OOOO 900.
A committee was appointed to for
mulate a plan Of consolidation, and
this committee was instructed to re-
port at meeting to be held in this
city next October.
The -four trust had its birth in the
mind of Thomas A. Mcintyre, of Nc
IrEtyre &. Wardwell, flour and grain
brokers in the Produce Exchange build
ing. He organized the Hecker-Jones-
Jewell Milling company, a combine of
big flour mills in the East; he organiz-
ed the warehouse trust, that owns all
the great warehouses save one along
the Brooklyn water front.
Mr.. Mcintyre went to Minneapolis
last week and elaborated his plan to
the Pillsbury-W Washburn company, the
Washburn- Crosby company, the North
western Consolidated company, and the
other great millers Of that section. They
were much attracted but they remind
ed Mr.. Mcintyre that the majority of
the stockholders of the milling COM
panies are EngliShmen, and that they
must approve the formation Of the
trust. Mr.. Mcintyre returned to New
York last Tuesday, and it is confidently
stated that he will go abroad within
month to interest English capitalists
in the consolidation.