The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1899-05-06
CARNEGIE RErlREs
DispOses Of His treat Iron In
&, res = 10 Ills PsrtnerS.

Tvs w hftN NhNA -
New York. May 5-The Times says
The entire interest OF Andrew canesie
In the Carnegie steel company has been
purchased by the co-parners In t7cI
business with H. O. Frics al their hea1
The exact figure which represented the
purchase ~ ce could not be learned. IL
Is known however. that the price j. ov-
$3.50, 100000 and was entirciy satisfactory
to Mr.. Carnegie. Il Is understood that
one Of the stipulations os the sale ls
that the new company shail retain the
name Of the present concern
The new company includes not oniv
an the Carneg,a steel plants but also
the H. c. FricS coke company with lts
"a 900 acre OF coke land IN the Connells-
willie district; the oliver Mining COM
pany. with its large ore interests IN the
Lake Superior districts; the Plttsburg,
Bessemer and Lake Erie Railroad: the
Union railroad which connects at
Homestead with all the trunk lines east
ana west and an the interests ia sew
erelah undred miles OF gas land u is
intended to increas. the outpu. OF all
the various departments of the joint
company so that the present famine in
the steel market may DE relieved and
he continued export demand supplied
II IS said that the memebrs Of the
new company, expect material In
crease in the value OF their property.
some saying that the property viii
double IN value within the nrNt nve
years. Tney say that evidences ,mve
recently multiplied that there WI, be an
normous demand for steel In the con,
struction Of all kinds II buildings Rnd
that of necessity the value OF ncir
holdings will increase greatly
The Rockefeller interests are C.. sely
ooncemcI in she transfer
In the opinion OF those who a,e well
informed on the subject the announce
ment of the consolidation of all or near
| ly all the big steel mills In the country
will be made in a few days No gen
| erela consolidation has yet been enter
cred iato but the final terms may be
agreed upon at any time. Private ad-
| Vices from Pittsburg aknd Chicago YES.
terday helped to convey the impression
while the sentiment in Wall street j..
that the talked Of consolidation Is *.
tremely probable.
cd. It is the opinion that the Carnegie
Steel company viii be the backbone Of
It, and will represent at least 800 00O. =.
900 OF It's capital. What other concerns
will be included in the combination is
as yet uncertain but Il Is now said that
II Is not unlikely to include the Ma.
tonal Steel company, with capital ol
, s5OOOO0OO and said 10 be earning about
; $l00O0,000 n year; The American Tin
4 Plate company capital $4,000, 900. with
a yearly earning put at from 5000. .Og
to 100000; the American Steel IIoor
company witw $4,000. 900. with an
nual earnings In the neighborhood OF
fom s4,OOOOOo to $5OOoOOO; the Ameri.
can Steel and Wire company, capital
ssO,0O0,OOO with earnings OF from $40.
100000 10 sl2.OOO,OOO a year and the Ma
tianol Tin Plate and Enamel company
capital S2.O0O,D00. and with yearly earn.
lngs approxlmating $5OOO,OOO.
Rumor also says thet the Federal
steel company may also be Induced to
enter the combine but nothing tangible
| can be gotten out OF this rimor
| Friends OF the Federal steel company
say It can afford to stand out agains!
all the propositions made to It and tia,
( could accomplish nohlng by taking
| up with tho combine It is pointed
out that It controls It's business from
the ore In the ground TO all its finish
ed products.
As for he talk OF the Republic Steel
company being included in the combin-
alton, II Is said that there Is little prob
ability OF II although daily conferences
have been held in this city between Mr.
Frick, Judge Moore and other parties
interested In the proposed combination.
None Of them will talk.
Chicago, May 5-The Times-TIerald
says: John w. Gates. president Of the
American Steel ana Wire company has
returned from Ney York. where "A con-
ference of the steel magnates was held
In an interview Mr. Gates confirmed ths
rumor regarding the combination OF all
the large steel companies in the coun.
try. According to him. the headquart-
ers OF the new company will be in New
York and the capital stock viii be be-
tween $500. .0oo,0oo and $500 100000. or Il
might reach one billion dollars. The
president OF the new company VIII be
H. G. Frlck, OF Plttsburg, who has been
so closely identified with Andrew Car
negie, Mr.. Gates said that Mr.. Carne-
gle would have no interest IN the new
organization provided his terms to tho
new proposition We're accepted
And ! suppose they have been, or cisc
the combination would not now be an
assured fact"
Among she concerns tnat viii be IN
the combine are: Carnegie Steel and
Iron company, slOO 900, 900: Natlonai
Steel company. 100000; American
Steel Hoop company, $28.O 600; Amer
lean Tin Plate company. yi0,OO0OOO
Federal Steel plate company $4,000. 900
American Steel and Wire company. $50
100000 The Rockefeller Mesaba Iron
interests viii also be in the combination.
Teachers Examination
A