The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-04-07
lOp'gI High Low ITodri Yes
HUGE ROLLING MILL TRUST
Is Expected to be in Operation in a
Few DAYS

Is Expected to be in Operation in a
Few Days.
Cleveland, o., April 6-Upon the best of
advice it may be said that beore the close
of this week. or the first of next week at
the latest, will be seen the gigantic rolling
mill trust just organized under the name
| Of the Republic Iron and Steel comBanv
in full operation. The Iron Trade Review,
referring TO the matter, says: THE cap
ital is $55,000,000, of which s25, 900, 900 is Z
per cent preferred and $50. 600 OGO common
| stock. The capitalization was ully end
! promptly subscribed by the rolling mill in
terests involved and by the underwriting
| syndicate in New York with which the
| proposition was originally taken up, no
| outside subscriptions being solicited
though there have been many applications
or subscription rights. he yearly capacity
of the combined mills in finishing mate
rial chiefly bar iron and steel, is about
| 100000 tons he new company will also be
a seller of pig iron. An important develop
ment in connection with the plans Of the
new company is in the securing OF. an ore
| supply. 1t is understood that the Frank
lin mine, on the Mesaba range, owned by
! Frank Rockefeller, has been acquired and
| that the Atlantic mine. on the Cogebic
| range, is also under option. Other prca-
! critics expected to be taken are the Cam
| bria and Lille al Nagaue, Mich Except
| the Lille, the mines named are Bessemer
| properties-an indication either that prep
| arations are being made or the production
of Bessemer steel ultimately or that some
OF the new company's furnices will run on
! Bessemer iron. which would be utilized
| as trading stock with a steel company for
part of such billet supply as may be
bought. The total annual capacity of the
furnaces controlled by the trust is $50 600
tons. Twenty-Five rolling mill plants. be-
sides ore properties and furnaces, have
been acquired. 1t is probable that six or
eight other mills will be acquired later
The headquarters will be in Chicago. It
now seems certain, though some idea was
entertained of Cleveland for time.
1t IS stated that the cash working cap
ital of the new company will be $500. 900
and that all plants will be taken over free
of debt. OF the preferred stock $500. 900
| and of the common stock So, 900 900 remains
in the treasury. he prospectus estimates
profits of $S,5OOOOO on the properties thus
far taken.
Youngstown. Ohio. April Sin the event
Of Myron c. Wyck declining the tender
of the position of president Of the Repub-
lie Iron and Steel company, the new roll
ing mill combine. 1t is stated here today
on good authority that George D. Wyck
president the Mahoning Valley Iron
company, will be given the place.
New York. April SIT Is said that eff
forts are being made for a combination of
the pad and paper interests of the United
States, which will embrace most Of the
following concerns: The Acme Manufac-
turing company and George B. Hurd. Of
this city; American Paper and Pad com
pany, Taylor and Atkins company. Smith
and White Manufacturing company. Smith
Tablet company. Powers Paper company.
Essex Paper company and Taylor Manu-
featuring company, Of Holyoke. Mass:
the National Paper company. Bernie Pa
per company and Taylor Nichols company.
o Springfield Mass; Reynolds & Reynolds
Dayton Ohio: J. c. BAR company of
Huntington, Pa; Garden City Stationery
company. of Elkhart. Ind. and the George
H Friend company, OF West CarroHton
Ohio. Negotiations are reported 10 be
pending for other important plants In this
city, Brooklyn and Chicago.
Washington, D. c. April s-The indus
trial commission postponed its hearings to-
day on account Of the burial ceremonies at
Arlington. The commission has decided to
adopt the plan of inquiring into trusts.
recommended by Professor jerks. Of Cor
nell The inquiry has gone over until
june when Professor jerks viii be here
throughout the month. except for the time
of university commencement.
Pittsburg. Pa, April s.-Tbe Post tomor-
row Will say: A s29.ooo. 90 combine Of amp
chimney manufacturers a the United
State IS in process Of formation. with
every Indication that the promoters Of the
enterprise viii carry the deal 10 a success
fll termination. The factories concerned
in the combine comprise every manufac-
turer OF lamp chimneys in the United
States
Cleveland. Ohio. April s-The gas and
vspor stove manufacturer, IN session a.
The HoCenden decide dtoday 20 advance
piss IN vspor stoves from Il 70 . per
cent. according 70 grade n product. The
reason they give IS the Increased cost ~
raw materials. Al OF them profess entire
igno-oHce n tho project 20 consolidate The
vapor stove companies
Chicago. APrfl Sire today IN tse o.
fees II the Chiscszo and Western IuSi-
ana railway or the third aoor Of the
Dearborn station. threatened t7- short
time ne entire structure. Lawrence
Walsh. a 7resnsa. fen 20 the pavement
from an upper window he XII de The
ere was extinguished with traEiHg loss
Chicago. April e.-Cla .Tnnaa Gsrlzeh. %
taa l. A Y rscinz board. sesssg appoint
- tae following bs1ssieas ,sse ~. Esd savs z. /
Carter. Eeokuk. IA. f2r 1ova John -
Saaro. salt Lake City ~ GgtaA. Nen =.
Hanson. Kea-nsy. for %ebraekz W. I
DoJy. Denver. tor Colorado. wyoE.as
sad New Mexico.