The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1899-07-13

prominently, was the cohsOlluheiVH
the wrought steel, iron and tube indus
tries of the country. effected yesterday
Mt New York by William Nelson Crom-
well and e. C. Converse, the consolida-
ton purchasers. The new companywih
be known as the National Tube Com
many. II is the largest of the kind In the
world and is the third in rank as
steel and iron corporation. The plants
controlled are:
National Tube Works Company, Nc
Keesport, Pa
riverside Iron Works, blast furnaces
rolling mills and pipe works, Wheeling
w. Va
United States Seamless Tube Com
pany, christy, Park, Va.
National Rolling Mills, McKeesport'
American Tube and Iron cOmpany's
plan, Youngstown, Ohio, and Middle
town, Pa.
NcKeesport, Pa.
Pennsylvania Tube Works Pitts
burgh. Pa.
Boston Iron and Steel Company, Nc
Keesport, Pa.
Allison Manufacturing company's
tube mill, Philadelphia.
Monongahela Furnaces, McKeesport'
Pa.
Morris, Tasker & comany's Delaware
iron plant, New Castle, Del.
Republic Iron Works, Pittsburgh, Pa.
OIL Well Supply company's CONT
mental Tube Works and Elbe Iron
Works, of Pittsburgh, Pa.
National GalvanIzlng Works, Yer
Chester Pipe and Tube Company.
Chester, Pa.
Monongahela Steel Works, McKees-
port, Pa.
Hooven Plant, Morrlstown, Pa.
OIL city Tube Works, OIL City, Pa.
Syracuse Tube Works. Syracuse,
n. Y.
Ohio Tube Company, Warren, Ohio.
Western Tube Company, contract I'M
til 1902 and one-thIrd stock ownership,
Kewanee. Ills,
Besides controlling the domestic
business, the new combine will invade
the Russian, bulgarian. Japan and
Canadian market, where 1t already
supplies tubular goods for the oil wells
of those countries. It will sell mer-
chant pipes to all the other nations Of
the world. Twenty-Five thousand men
are employed.
William Nelson Cromwell, general
counsel for the combine. said last night
that the net earnings of the current
year will be between six and seven mil
lion dollars, while the annual saving
in general expenses will be from two
to three million. The capitalization is
eighty millions, divided Into seven per
cent cumulative preferred stock of for
ty millions and common stock Of the
same amount. The preferred stock
dividend is S2,SOO.OOO and is limited to
that amount and is made cumulative.
There Is no mortgage lien upon any
of the properties, and none can ever be
placed upon any realty Of the company
without the consent of eighty per cent
of the stock common and preferred. All
dividends exceeding s2,sOO,OOO go to the
common stockholders, and now equal
about ten per cent.
The heads OF old concerns become de
rectors in the new one. The board Of
directors chosen is as follows: Joshua
Rhodes, ]. ]. vandergrift, Charles Il.
CoSter, William B. Rhodes, F. j.
Hearne, ]. N. Vance, John Eaton,
Francis Potts, E. R. Tobey. Jonathan
Rowland, Daniel o'Day, o. c. Barber.
Henry Arid, John Don, Edmund C.
Converse, william Nelson Cromwell,
William s. Eaton, A. F. Luke, William
K. Curtis, William P. Hamilton and A.
H. Gillard.
The executive officers are:
northumberland c. Converse.
Chairman of the board-Joshua
Rhodes.
First vice president in charge of
manufncturing-F. ]. Hearne.
Second vice president in charge Of
mercantile aftalrs-Horace Crosby.
Third vice president, financial
Francis L. Potts.
General manager Of manufacturing
departmental. S. Matheson.
Recommendations f. Lake.
Assistant treasurer at Pittsburgh
William H. Latshaw.
General counsel-sullIvan & Crom-
well.
The official and financial headquar-
tiers will be in New York; the mnnufac-
turing headquarters In Pittsburgh.
Wheeling people, while learning Of
the recognition of Mr.. Hearne's busI-
ness abilities with pleasure, will regret
to learn that he win move from. Wheel
ing to Pittsburgh, where the manufac-
turing headquarters Of the big pipe
combine are to be located. The office
OF first vice president In charge OF the
manufacturing department. is UNI
doubleday the most important office in
the gift of the tube combines directors,
and their selection of Mr.. Hearnc for
the position Is indeed striking rccog-
milton OF his worth.
--s..-ua
BUILDS up The system; puts pure.
rich blood In the vcinF, makes men and
women trong aud healthy Burdocll
Blood Blttcrs, At any drug store. ]
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