The Wellington enterprise. [volume] (Wellington, Ohio) 1899-1900, 1899-05-10
WILL ABDICATE.
Mr.. Carnegie to Lay Down the
Steel Trades Scepter.
His Partners VIII Purchase HIS In.
dustrial Interests = The Craze for
Combines Breaks Out in Sew
eral Branches of Business
Hitherto Untouched;

New York, May 6.--Mr. II. C. Frick
was seen yesterday and made the fol-
lowing statement:
"nhe current rumors that the Car
negie Steel Co. and the H. c. FriclS
Coke Co. contemplate combination
with other steel interests are wholly
unfounded. What was in contempla-
ton, and what is now practically con-
summated, is the amalgamation under
one corporate organization of all of the
properties and interests of the Carne-
gle Steel Co. and the H. c. Frick Co.
and their subsidiary and allied organi-
cations. Practically the only change
in the situation will be the retirement
of Mr.. Andrew Carnegie from the Or
ganization, he having sold to his part
ners his entire interest, Mr.. Carnegie's s
intention being to give his entire time
in the future to the prosecution OF his
great philanthropic work.
with reference to THE charters
which have been obtained in Pennsyl-
vania and New Jersey there is nothing
to say at present, but it should be well
understood that there will be no change
in the management of the various com
panies."
1t was authoritatively said yesterday
that a syndicate of English capitalists
is negotiating for the purchase of a
number of cotton mills in and near Fall
River, Mass. The English syndicate
concerned is said to be the Cotton
Spinners' Fine Yarn association, which
year or so ago purchased nearly all
the smaller English concerns. 1t is at
the present time negotiating the pur-
chase of len of the Fall River mills
and is now conducting an investigation
into their affairs. 1t is likely that the
American Thread Co. is attempting a
consolidation of the cotton yarn mills
of Fall River. An official of the thread
company is quoted as saying that if
such a combine is formed, it will prob
ably be formed by the American Thread
Co. Inasmuch as English capital is
behind the thread company it is re-
garded as likely that this latest report
is but the temperance of the first in
a different form.
The Times publishes the following:
Arrangements have been completed
for the organization of a company
with a capital of So, 900, 900 to absorb
the principal glass .bottle manufac-
tories of New York, New Jersey and
Pennsylvania. The company will be
incorporated within few days in
New Jersey and its headquarters will
be established in this city. The new
concern will be known as the National
Glass Co.
Trenton, n. j., May 6.-Articles of
incorporation were filed Friday with
the secretary of state of the Illinois
Electric Vehicle Transportation Co.,
with an authorized capital of $25,O0O,-
900. The company is authorized to
operate automobiles in Illinois and is
one of several companies organized and
controlled by the Whitney.Elkins syn
dicate for the manufacture and opera
ton of auto mobiles.
Chicago, May 6.-Principals and rep
resentatives of the Whitney-Elkins-
Widener syndicate, of New York and
Philadelphia, were in close consulta-
tion yesterday with officers of the local
street railway interests. Levy Mayer,
general counsel for the Whitney-El-
kins-Widener syndicate, in an inter
view last night regarding the project
ed sale of the consolidated street rail-
ways to the syndicate, said: "Mr.
Yerkes has not yet parted with his
holdings. 1 think he will, however.
If so, Mr.. Yerkes will get large
amount of money for his interests. l
should say at least $40, 100000"
The Chronicle says: Manufacturers
of specialties used in the manufacture
of railway rolling stock have united
and will transfer their plants to new
corporation which will bear the title
of the American Equipment Co. The
company will be capitalized at S22,-
600 600