New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-05-06
H. C. TRICKS STATEMENT.
CARNEGIE INTERESTS NOT TO UNITE
WITH OTHERS, HE SAYS.
BELIEF THAT THE GREAT COMBINATION
WILL SOON BE ANNOUNCED-MR. CAR
NEGIE REPORTED TO HAVE RE-
CEIvED slOO,OOOOO TO y0O0OoO
FOR HIS HOLDINGS.
FOR HIS HOLDINGS.

NEGIE REPORTED TO HAVE RE-
CEIvED SOOoOO,OOO TO slOM0OO
FOR HIS HOLDINGS.
II. c. Frck yesterday gave the following
statement to The Associated Press
The current rumoTs that the Carnegie & Steel Com Com
pany mred ana the FTifb tS CINs ot5er sfna
Interests are wholly unfounded. What was in
sUTntad 9b ibe amaieamatIon hinder one cor
porate organization of all OF the properties and In
and the II. C. Frck Coke Company and their sub
sidiary and allied organizations. Practically the
ment Of Mr. Andrew Carnegie from the organiza-
tion, he having sold to his partners his entire in,
entire time IN the future to the prosecution OF his
with reference to the charters which have been
obtained in Pennsylyana and NeWJsrsey tners IN a IS
understood that there viii be no change In the
management Of the various companies
If by the Carnegie Steel Company and the
II. c. Frict Coke Company and their subsidiary
and allied organizations" Mr. Frick means solely
the properties with which Andrew Carnegie has
for years been prominently identified, It would
seem that the amalgamation of those properties
could have been as easily accomplished by Mr..
Frck without leaving his home in Pittsburg as
by his coming to this city. But If Mr.. F'rick
means by the expression quoted to include the
companies in which Mr.. Carnegie has recently
been Interested. his statement must be regarded
as practical confirmation OF the generally be-
! lieved report that a consolidation Of the So
| called Carnegie interests" and the National
Steel Company. the American Tin Plate Com
/ pany, the American Steel Hoop Company and
the American Steel and Wire Company has been
arranged for it is known that Mr. Carnegie has
/ been large stockholder in the Tin Plate and
| National Steel Company, and John W. Gates
/ chairman Of the Board Of Directors OF the Amer
| lean Steel and Wire Company. is authority for
| his statement that his corporation is TO be a
party to the big combination. Moreover, Mr..
| Frick has been In conference at the Holland
House for several days this week with represen-
/ tatlves Of the Tin Plate National Steel Steel
and Wire. Steel Hoop and Republic Iron and
/ Steel companies and 1t seems strange that a
/ man as busy he with the management Of
great corporations could have found time to de-
/ vote to such conferences If the only combna-
tlon at any time contemplated by him was that
Of the original Carnegie properties and inter-
! ests.
The view generally held in Wall Street
! yesterday that the Carnegie Steel COMPANY IN
corporated Thursday al Trenton. with nom
amalgamation into one company Of the various
in them having previously been sold TO his CO.
| partners for A sum variousy reported as $780,
! 100000 and $15OO00 900: and that the new cor
| dated in one giant company with the American
/ Steel and Wire Company, the National Steel
| Company. the American Tin Plate Company, the
/ American Steel Hoop COmpanv. the Republic
= iTor and Steel Company, and the Rockefeller
Mesaba iron interests.
The Federal Steel Company is still outside the
! fold but its president. ex-Judge Gary, started
day or two ago for Chicago, where w. II.
! Moore. representing the Tin Plate and National
! Steel companies, and Chairman Gates. Of the
| Steel and Wire Board. already are and 1t is gen.
orally thought that in time the Federal Steel
! Company will be found to be a member Of the
! colossal combination which Is now apparently
nearing the incorporation stage.
| Among the properties in which Mr.. Carnegie
has been so largely interested are the Edgar
Thomson Steel Works the Pttsburg Bessemer
Steel Works the Lucy Furnaces. the Union Iron
| Mills, the Keystone Bridge Works, the II. c.
Frck Coke Company the Scotia Ore Mines, the
Oliver Mining Company. the Pitt burg, Besse-
mer and Lake Erie Railroad, and the Union
Railroad.
Chicago. May 5-"The Times Herald" says
| John W. Gates, chairman Of the Board Of
| Directors of the American Steel and Wire Com
| pany who has just returned from New-York,
has confirmed the rumor regarding the cOmbina-
ton OF all the large steel companies Of the coun-
try, and made the assertion that the deal was as
far-reaching as the ingenuity Of the minds
| making II could conceive. The headquarters Will
be in New-York. and, according to Mr.. Gates.
the capital stock will be between S5OOWD0O
and SSOOOOOOD and the figures might be
| S1OOO 100000 The president Of the new COM
pany. he added. would be H. c. Frick Of Pitts
burg who has been so closely identified with
Andrew Carnegie Regarding the other officers
he professed ignorance.
Not the least interesting phase Of the deal
viii be the complete retirement Of Mr.. Carnegie
from the steel industry and the placing OF his
mantle upon Mr. Frick. In speaking OF this. Mr..
Gates said that Mr. Carnegie would positively
have no interest in the new concern. provided
that the terms he proposed TO the new combine
were accepted And l suppose they have been,
he concluded else the combine would not now
be al assured fact Mr.. Gatess company the
American Steel and Wire. was one OF two con-
! Germs which held out against the combination
until recently. The other Is said 70 have been
| the Federal steel Company. When asked about
this Mr. Gates said that the difficulty was
really n small one, and intmated that 1t was
matter Of price. The new company Will be
ready for operation 10y July |. when, II present
plans are followed offices will be opened