The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1899-05-05
CARNEGIE no RETIRE
FROM THE STEEL TRADE.
II. q. Frlck and the STANDARD on Com
pany Wlil Be IN Control OF
tho Combine.

NEW YORK, May lin discussing
iron aud stcol trade conditions, Tho Iron
Ago VIII say tomorrow:
The steel trade B deeply agblated over
The serious ntg0llatWha now progress.
lug winch mean virtual withdrawal
Of Andrew Carnegie frJm tho INDUSTRY
and tho passing " control % u. q.
Frlck. with whom viii be associated tbe
Standard cIi Company ana the leaders
OF tho National Btosl Company and their
allied interests. no what extent this
movement viii expand, 80 aa 10 Include
tho Federal Steel Company In not clear.
II IL understood that other largo con.
cofns have been approached Il should
DO distinctly stated. however. that the
undertaking IL slill In IL iniiihtory
stages ana Il may or may not 20 through.
AnO, he's consolidation which In taking
serious turn, Is that Of the West Sheet
Mills, on which options are nov being
secured. The movement Il backed by
the Moore interest
Tho tubs mills ana pipe works nave
reached the point whore the works have
received Instructions no. ~ book orders
boyobd June l. one feature Of thls con.
solldnlion iH that tho underwriting bank.
ora arc TO keep absolute control of the
property for period " nine months
IN tho eastern iron trade, r. u. Wana-
maker IL securing options az cash
price on n number Of rolling mills. Al
these new undertakings, together win
some OF the other cancellations like
Tho Republic Iron and stecl Company
which arc not yet IN full working order.
bays had their efrc~ upon tho volume
~ current business In crude and huish,d
material
An important factor IN the general sit
uatlon IL tho growing strength Of tho
fofrIEn markets. where our own position
/. being gradually realized aud the fear
Of American competition II icssehing
Germany is overwhelmed with work IN
all departments and England IN deyrl.
oping an advancing tendency. pig Iron
having had n-. advance of 81 q during
The past i'u days We continue 10 do
exporting ou heavy scale ~ thr highly
furnished iincs bridge material and in
the slro trade sales aRRrcganng about
10 oU tons Tor The past week are reported
al an advance Of g. per toH II looks
49, though consumption ln the entire
world has been gradually expanding un.
90 u has taken up NIL the slack ayaila.
Bile capacity and aa though rcmunctaliyr
price, are assured The latter. 30 far
49, our own country 70 concerned would
br satisfactory u w. dld not nave
satisfHriofy action
No ,rrS large transactions are reported
from the different producing crntsrs
Wc may note. however the purchase OF
about '10U tons Of tlrsscmrr pig iron
in the central west by one nrm The
steel mhrkr. ~ strong. but the volume
n business b moderate. Eastern mill,
rvpor, some business IN steel rails. The
bridge rhop- are reported a. being "a.
.csdingly busy and the main complaint
along the whole Inc of structural works
s the scarcity aud slow delivery Of
notably plates
ln tho me- al trade, copper continues 10
'hsorb attention, through the movement
10 bring large part OF ihc productive .
'apacity under one management. In
,p-Itcr the rise continues. and the Mis-.
,ourl and kansas ore miners have again
pushed up prices Lead Is alyo frmer ,
fhr Co,'ur d'Alcnc outrage cuts m an I
Important producer. Tin has again risen
"a sympathy with London