The times., 1899-11-12

Owing 10 the present stringent condition
OF The money market. negotiations which
have been in progress for several months
past 10 effect a combination among the
bridgebuiiding firms Of the United States
have fallen through, for the present at
least Had the plans Of the promoters
been successfully consummaJed, huge
trust controlling 95 per cent Of the bridge
material mills in the country would have
been launched. But an immense amount
Of capital, from S45 O00000 TO $50 GOO coo,
was required to float the scheme and as
the money was not forthcoming in the
present Gghtened condition Of the financial
markets. the proposed combination has been
raIked.
There is no little likelihood that. as sooa
as money becomes easier and flows again
into fields OF investment. the plans will be
revived and another attempt made 10 carry
the deal through. once established he
trust would become one Of the most pow
erfHI industrial combinations in the coun-
try, a giant among the otAer giants in the
family OF trusts The promoters declare
that the proposed combination would prsc-
tically eliminate competition in the bridge
building Industry and the way would be
prepared Tor the formation OF still another
formidable aggregation Of capital IN the
steel and iron trade-a trust 20 control the
output Of structural building steel. In fact.
there is already a movement on foot 10
consolidate the beam mills of this coun-
Try, TO place them on an equal feeting with
the bridge mills in case a combination Of
the latter is effected.
The banking firm OF J. & ". Seligman.
OF New York has interested itself in the
proposed bridge building combine. il has
been proposed 10 bring twenty mills
into the deal, and foremost among them is
the Pencoyd Iron Works.
The other concerns interested are the
Keystone tCarnegie) Bridge Company,
Pittsburg Bridge Company Shifier Bridge
Company. and Schultz Bridge and Iron
Company, all Of Pittsburg; EdgemoOr
DELI Bridge Works EdgemoOr: Post &
McC0Td Brooklyn. Berlin Comm Iron
Bridge Company GrotOn N. y Bridge
Company; Bellefontaine Ohio Bridge and
Iron Company. Lassig Bridge and Iron
Works, and American Bridge Works. Of
Chicago Canton tOhioj Bridge Company,
Buffalo -. y Bridge and Iron Works;
New Columbus Ohio Bridge Company,
Lafayette und.D Bridge Company. Gillette
Ferzog Manufacturing Company. Mime
apOlis; Toledo tOhiol Bridge Company;
EImira tx y Bridge Company. Wrought
Iron Bridge Company Canton. Ohio. J. c..
Wagner Company Milwaukee, N0uugs-
town Ohio Bridge Company, koken Iron
Works ST. Louis. Union Bridge Company
Athens, Pa; J. b. q J. 81. Cornell New
York Rochester II. " Bridge and Iron
Works. Horseheads IN " Bridge Com
pany. Albany \. y. Detroit Bridge and
Iron Works.
s.--7f,.,- =, III, ,.-,-,,,-. ~ .., ,,,...,t ,gc
examined the books of the companies
named. their average annual net earnings
from manufacturing alone have aggre-
gated g s97 207 These figures represent
the minimum o. profit as they are the
earnings during years Of depression IN the
bridge building industry. il is stated that
al the present time the % concerns are
fully able 10 show annual net earnings ag-
gregating nearly 5000 600
The promoters OF the combination have
pointed out that the bridge building busi-
ness offers more opportunities for econo-
mics Of manufacture and administration
than those Of similar consultations" in the
steel and iron industries. Circulation has
been given 20 estimates showing that under
the administration OF trust or combina-
tion the net earnings Of the plants emu
merated should be not less than $ 900 GOO.
and possibly as high as SO. 600 eco yearly.
These estimates Of the immense p0ssibiIi-
Ties OF profit are based on figures Of actual
business and the economies possible under
single administration Of the business
One great item OF possible saving Is in
the matter Of furnishing estimates fo- bid
ding For contract Of any size it is not
unusual for as many as twenty firms 10 bid.
and each viii be submitted 10 an outlay OF
perhaps 81 01J IN preparing plans spe ih-
cations etc AS but one firm can get the
contract. the remainder suffer loss. The
saving Of frcign-s. concentration Of man
ufacture and a thousand and one other
Items contribute 10 the total OF possible
economy. With practical control OF the
bridge building industry. The power OF the
trust 20 maintain or advance prices would
BE- self-evIdenL The name OF President
percival Roberts OF The A. q p. Rober s
Company, VINO operate the PencOyd Iron
Works has frequently been men ~oned in
connection with The presidency ol the pro-
posed combination. When seen in re eT-
ence 70 the attitude Of his company toward
The proposed consolidation OF interests. Mr
Roberts would say nothing.
A Lecture on Booker T. Washington
This Afternoon. al $3.50 O'Clock, Dr. w. Th9np
cor. of the ''C0lored American viil discuss
t.u 49, r N-sG.fr.osfr.. fife Real frsr f-.r-e+s.