The age-herald., 1899-07-13
INCLUDES SCORE OF CONCERNS Effected by < n Nelson Crom- Well= 2 C. Converse.
 A9T
 WILL IE $ z FOREIGN MARKETS The Combination Only Excelled b7 q Krupp and Carnegie Inter- ests-The Capitalization is
 Eighty Million Dollars

New York, July decentralization of the wrought steel, iron and tube industries of the country was effected today by William Nelson Cromwell and C. Converse, the con- solidated purchasers The new company will be known as the National Tube com pany.
 It is the largest of the kind in the world, and is the third in rank as steel and iron corporation. It is excelled only by the Krupp and Carnegie interests The plants controlled are:
 National Tube Works company, McKees- port, Pa.
 Riverside ir ,n ks, blast furnaces, roll. ing mills and pipe works, Wheeling, ". Va.
 United States Seamless Tube company, /Christy Park, Va.
 National rolling mills, McKeesport Pa American Tube and Iron company's plant, Youngstown, O., and Middletown, Pa.
 National Forge and Iron company, Me- Keesport.
 Pennsylvania Tube works, Plttsburg Boston Iron and Steel company, McKees- port, Pa.
 Allison Manufacturing company's tube mills
 Monongahela furnace, McKeesport, Pa. Republic Iron works, Pittsburg.
 oil Well Supply companys Continental Tube works and Elba Iron works, Pitts burg.
 National GalvanzinE works, Versailles, Pa.
 Chester Pipe and Tube company, Chester, Pa.
 Monongahela Steel works, McKeesport, Pa
 Hooven plant, Morrison, Pa.
 Oil City Tube works, oil City, Pa.
 Syracuse Tube works, Syracuse, N. Y.
 Ohio Tube company, Warren, O., and Western Tube company, Kewanee Ill. E.. Will Invade Foreign Countries
 Beside controlling the domestic business the new combine will invade the Russian, Bulgarian, Japanese and Canadian mar kets where it already supplies tubular goods for the oil wells of these countries. It will sell merchants pipes to all the other nations of the world Twenty-Five thousand men are employed.
 William Nelson Cromwell. general coun- sel for the combine, said today that the net earnings of the current year will be be- tween $6,0O0,00O and $7,00O,00O while the an- nual saving in general expenses will be from $2, 900 to $3OO0,OO0. The capitalization is
  preferred stock of 40000 900. and common stock of the same amount The preferred stock divided is g. ,000 and is limited to that amount and is made cumulative. There is no mortgage lien on any of the proper ties, and none can ever be placed upon any realty of the company without the consent of per cent. of the stock, common and pre- ferred. All dividends exceeding g. 900 go to the common stockholders and now equal about 10 per cent The heads of the old concern become directors in the new one. The board of directors chosen today fol: lows
 Joshua Rhodes, J. J. Vandegrift, Chas. H. Coster, William B. Rhodes, F. J. Hearne, J. N. Vance, John Eaton, Francis Potts, D. R. Tobey, Jonathan Rowland, Daniel O'Day, O. C. Barber, Henry A. Aird, John Don, Edmund Convers William Nelson Cromwell, William S. Eaton, A. F. Luke, William K. Curtis, William P. Ham, ilton and A. H. Gllard.
 The executive officers are: President Ed mund c. Converse; chairman of the board, Joshua Rhodes; first vice-president in charge of manufacturing, p. J. H>srs:; second vice-president in charge of ncfcaas president financial, Francis L. Potts. gen. eral manager of manufacturing depart ment, A. s. Matheson; treasurer Arthur F. Luke: assistant treasurer at Pittsburg, William H. Latshaw; general counsel. Sul- livan and Crowell.
 The official and financial headquarters will be in New York, the manufacturing headquarters in Pittsburg.