Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-02-01

| THE SALE OF THE BIG PLANT
TO THE TIN PLATE COMBINE.
| PAYMENT TO BE MADE HALF
| IN CASH AND HALF IN STOCK.
OTHER INDUSTRIAL MAT
TIERS.
As exclusively forecast in the Reg
lister and denied in the self-suficient
| evening paper, the directors of the
| Aetna-Standard Iron and Steel Com
pany met yesterday morning to con-
slider the proposition received from the
Chicago headquarters of the American
Tin Plate Company. After discussing
the proposal at some length action was
taken varying little from the lines in
dicated in yesterday mornings Regis
| ter. So far as the directors are con-
cerned the offer from the consolidated
interests was accepted and the first i'm
| portant step in the big deal was there
| by consummated.
All that remains now is ratification
by the stockholders, and the initial
move in this direction will be made as
soon as the necessary clerical work can
be accomplished to place the matter
properly before them. In this there
will be no unseemly rush, as the neces-
sites of the occasion do not demand it.
Sixty days has been given within which
to accept the Offer and by that time
it is expected the consent of all or at
least a majority of the owners will
have been secured.
AS previously stated, the proposition
carries with it a cash offer somewhat
in excess of the 100000 capital stock,
but a secondary stipulation which is
| dwelt upon with some insistance is
| that payment shall be made in equal
| parts of stock and money.
In the directory of the Aetna-S Stand
| ard is comprised some of the shrewd-
| est business men of the Ohio valley,
and as their opinions and recommen-
dations have invariably obtained as
| to the policy of the company, it may
| be accepted as a foregone conclusion
| that the big plant at Martins Ferry,
| including the steel plant at Mingo,
will within a comparatively short
time become the property of the
American Tin Plate Co.
Within a few days. possibly to-day
or tomorrow. the Wheeling & Lake
Erie Railroad will be running its
| freight trains through to Wheeling,
instead of stopping off at Warrenton.
| The latter place is to be abandoned
as a freight terminus and hereafter
trains will be made up in the Wheel
ing yards. This will transfer a great
| deal of additional business TO this end
of the line, and boarding houses and
restaurants will reap no small amount
of patronage from the freight crews
that will make Wheeling their stop
ping place. This change is one which
| has long been anticipated by the w.
& l.. e. management, but ii has been
| deferred owing to a lack OF terminal
facilities here Wheeling is the nat
ural terminus of the road, and the in
conveniences of having the yards at
an intermediate point is obvious.
The planning mill of Fahey Bros, at
| Forty second and McCulloch streets,
has an abundance OF business, and the
| shops are employing an extra large
! force of men. One of the proprietors
said: There is no kick coming, not
even from the old gray mule which
! has the danger signal hanging over
the STALL" They have some nice con-
tracts on hand.
1t is given out that options have
been obtained on all the sewer pipe
| plants east of the Mississippi river,
| with two exceptions, and that the OPP
tons extend to May /.
The Wheeling Potters have sent out
invitations for a grand social session
which will be given by local No. 6,
n. B. of o. P, Thursday night Quite
a number of East Liverpool potters are
expected down.
Work will soon be commenced on
the new blast furnace of the Riverside
Iron Co., which it is proposed to erect
at Steubenville. The architects plans
! are completed and preliminary surveys
are in progress.
The prominence in the market of the
stocks of the recently formed gigantic
| industrial corporations, such as FEEDER
al Steel and International Paper, as
well as those Of similar concerns OF
longer standing, has called renewed at
tention to the progress which the coun-
try is making toward the concentration
in a few hands Of the capital invested
in manufactures. Politicians see in
the movement a curtailment of the in
dependence of citizens of small means
and a menace to the interests of CON
sumers. Men as eminent as President
Cleveland and Judge Peckham of the
United States Supreme Court have pub
licly deprecated it and favored meas
ures for its repression. The newspap-
ers have Joined in the cry, and de-
nounce the great trusts" as they call
them as enemies Of the public welfare.
To the economist, however, they are
legitimate results of civilization, and
the natural outcome of the law that
underlies all human development
MARTINS FERRY.