Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-05-06

AMI ENOFLMOUS I'M EflEo 1 >.
| New York, May 5.-Mr. H. c. Prick
was seen to-day and made the follow
ing statement:
''The current rumors that the Car
negie Steel Company, limited, and the
| H. C. F'rick Coke Company contem-
plated combination with other steel
interests were wholly unfounded. What
was in contemplation, and what is now
! practically consummated, is the ANAL
gamatfon under one corporate organic
alton of all of the properties and inter-
| ests of the Carnegie Steel Company,
limited, and the H. c. Prick Coke Com
pany and their subsidiary and allied
| organizations Practically the only
| changes in the situation will be the
from the organization, he having sold
| to his partners his entire interest, Mr..
| Carnegie's intention being to give his
| entire time in the future to the prose-
cution of his great philanthropic
| works.
with reference to the charters
which have been obtained in Pennsyl-
| vania and New Jersey, there is moth
| ing to say at present. but it should be
| well understood that there will be no
| change in the management of the va
rious companies
The Times says: The entire
interest of Andrew Carnegie in
| the Carnegie Steel Company has
been purchased by the co-partners in
the business, with H. G. Frick at their
| head. The exact figures which repre-
sent the purchase price could not be
learned. 1t is said, however, the price
is over $3.50, 1000, 900, and entirely salts
| factory to Mr.. Carnegie 1t is under
| stood that one of the stipulations of
| the sale is that the new company shall
retain in the name of the present con-
| Germ.
The new company includes not only
| the Carnegie steel plants but also the
H. c. Frick Coke Company, with its
| 10000 acres of coke land in the Con-
nellsville district: the Oliver Mining
| Company, with its large ore interests
| in the Lake Superior district; the Pitts
burg, Bessemer and Lake Erie Railroad,
the Union Railroad, which connects at
Homestead with all the trunk lines
east and west. and all the interests in
several hundred miles of gas land. 1t
is intended to increase the output of
all the various departments of the joint
company SO that the present famine
in the steel market may be relieved
and the continued export demand sup
piled.
1t is said that the members of the
new company expect a material in
crease in the value of their property
some say the property will double its
value within the next five years. They
say that evidences have recently null
tiplied that there will be an enormous
demand for steel in the construction of
all kinds of buildings and that Of neces-
sity the value of their holdings will in
crease rapidly. The Rockefeller inter-
ests are closely concerned in the trans
fer.
In opinion Of those who are well in
formed on the subject the announce
ment of the consolidation of all or
nearly all the big steel mills in the
country will be made in a few days.
No general consolidation has yet been
entered into. but the final terms
may be agreed upon at any time.
Private advices from Pittsburg and
Chicago yesterday helped to convey the
impression, while the sentiment in
Wall street is that the talked Of con-
solidation is extremely probable.
If the new general combine is effect
ed it is the opinion that the Carnegie
Steel Company will be the backbone
Of it and will represent at least $780,
100000 of its capital. What other con-
Germs will be included in the combina-
ton is as yet uncertain, but ii is now
said that 1t is not unlikely to include
the National Steel Company with
capital of $50 1000; the American
Tin Plate Company. capital $50, 900 600;
the American Steel Hoop Company.
capital $4,000, 600; the American Steel
& Wire Company. capital $50, 600. 900;
the National Tin Plate & Enamel Com
pany, capital s20.000,0O0.
| Rumor also says that the Federal
Steel Company may also be induced to
enter the combine, but nothing tangi-
| BILE can be gotten ont of this rumor.
! Friends Of the Federal Steel Company
say it can afford to stand out against
all the propositions madeto it, and that
| it could accomplish nothing by taking
up with the combine. Ii Is pointed out
| that it controls its business from the
ore in the ground to all its finished
product. As for the talk OF the Repub-