The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1899-05-06
STEEL AND IRON
TRUST FORMED
Carnegie Sells ms Interest for
Over One Hundred and Fifty
Million Dollars.
LARGER FACT0RIES lNu- UDED
Capital Stock May Reach One BYlIOn
Dollars and Prices VIII Be
decreased.
LARGER FACTORIES INC UDED

IN tho Carnegie Steel Company has boef
purchased by the ao-parWsp In the
business. with H. 6, ierick al their head
The exact figures which represents ibo
purchase price could not bs learned, II
in kneSD. however that the price paid
was over ilb0.OOOOJo. and was entirely
satisfactory 10 Sir. Carnegie. II II un.
dcrplood that one Of tho atipulatlona OF
tho sale IL that the new company shall
retain tho namo OF tho present concern.
Tho now company Includes not only
all tho Carnegie steel plants. but also
tho H. c, Frlek Coke Company. with Ia
i0OO acres OF coke land In tho Councils.
vile district. tho oliver Mining Com.
pany. with its largo orc interests IN the
Lake Superior district; thr rii,sburg.
li0asomsr ana Lake Eric Railroad. tho
t'nioh Railroad. which connects at Home.
stead with all the trunk lines east and
west. and all the Interests In several
hundred miles VI gaA land, Il II IN.
tended 10 Increase tho output Of all the
various departments OF tho joint coms
pany 20 that the present famine ~ the
slscl market may be relieved aud the
continued export demand supplied
The former co.pafInern Of SIR Cat.
noair y IN all. propose 10 retain the
interests which lhoy had Individually,
40 members " tho original Carnegie
Steel Company and to ofrcr Tor pa'c 20
Tho public the shares which they have
acquired from Mr Carnegie This De-.
icnllun. In the event " the purchase from
Mr Carnegie. had been lnlimat,d for
some time. and long before lhrr ale was
effected. an enormous demand fDr lhrsr
shares had come from almost every plrg
~ Tho country
IL 10 said thar the members uf The new
company expect material Increase 10
tho value OF their property -ramr saying
that the property VIII double in value
within tho nrAt nyc Year, Thrl say that
evidences have recently multiplied that
there wlii DO an enormous demand fur
-Jrol in tho construction " al kinds Of
hulliing ana that ~ necessity the value
pf ,helr holdings will Increase greatly,
The Rockefeller Interests are closely
concerned In the transfer II II said
that the original moVemcn, toward tho
NaH initiated by John II.
Rockefeller ana e. " Rogers. 81 she
STANDARD ui Company stated that one
uf tho f,a Suns for the failure 4 tho or.
sanlsations was that Mr. CArnrEic'- un.
Willingness to part With hlr property
unlrrs the company name was nominated,
The sosslp about the uncr ~ tioo Uo a.
Tor the Carnegie Interests Was way be-.
low tho mark I, Was pointed out that
no longer agu than last winter Mr car.
n,x.r was offered fljO oU.W0 Tor all his
iron and steel Interests Including his
iron and steel shops And railway, This
unrr he refused. va u safe 20 assume
.hnt RHy offrf bee made whether to- an
outside corporation or even To his Coz
partners War higher than s0 oooo In
he opinion of those Who are we'll In.
formed on the subject the announcement
NJ the consolidation ~ all or nearly al
he biz steel mills In the country will bc
wade In u few days No general con.
.olldatlon has Yet been entered into hut
ne nnnl terms may be- agrrcd upon
my time Private adyiccs from Pitts
iutg and chicago yesterday helped To
onvry the impression, white the scnt. {
ncnl In Wall street IL that the talked.
" consolidation N extremely probable,
n the new general combine Is effected, |
4 IL the opinion that the Carnegie steel
Company will bc the backbone " H. and
VII represent az least tloo0o0W ~ us
'aplial What other concerns VIII be-
included In the combination Is as Yet un-
lecldrd hut II IL said that Il is likely to
include tho National Steel Company /
with capital Of S00oO.OOO aud said to
,c earning il0OO0o u year, the Amerl-
an Tin Plate Company capital $50
~ with yearly earnings put M from
z, ,W0DO to 81 OOo. OOO, the American Hoop
'ompnny. capital s900GO. with annual .
arningr IN the nclghDorhond " NomNO
n EV0G0. the American Steel and Wire ,
'ompnny capital k9OOO0,0O0 with earn
ngs OF from N0Co00O and the National /
'ln Plate and Enamel Company capital 2
~. .OoOO and with yearly earnings ap.
S00OOO
Rumor also says that the Federal steel
Company may also be- induced to enter
he combine. but nothing tangible can be
.ottrn out OF the rumor Friends ~ the
federal steel Company say It can affom