New-York tribune., 1899-05-05
BIG STEEL TRUST FORMING.
THE CARNEGIE STEEL COMPANY INCOR-
PORATED YESTERDAY.
ITS CAPITAL NOMINAL. BUT LIKELY TO BE
INCREASED TO s55O.OoO.Ooo WHEN THE
PENDING NEGOTIATIONS ARE
CONSUMMATED.


PENDING NEGOTIATIONS ARE
CoNsUMMATED.
Trenton, N. j., May 4.-Articles Of incorpora-
ton were filed with the Secretary Of State this
afternoon OF the Carnegie Steel Company with
authorized capital Of $1,000. The incorpora-
tion Of this company is understood to be step
in the direction Of the movement on foot
for the consolidation Of all the big iron and steel
combinations already formed. The corporators
Thomas NJ. Day, Samuel F. Jarvis and
John j. Tracey all of Jersey City.
The amount Of capital stock and the statement
of the purpose of the corporation do not corre-
spond The articles set forth the fact that the
company is formed to do about everything 1t Is
possible to imagine that steel company should
want to do under any circumstances. The char
ter is broad and sweeping. and far from being
in keeping with the amount of capitalization.
1t is understood here that the Carnegie COM
pany will within few days when the combina-
tion has been effected file certificate Of In
crease Of stock, bringing the total capitalization
up to S5500000OO
The procedure apparently is the same as that
followed the Incorporation Of the National
steel combination few days ago. That con-
cern fixed the capital at 5000 When the first
meeting Of stockholders held 1t was for
mally voted to increase the capitalization TO
5000 100000 and the certificate OF increase fol-
lowed the certificate of Incorporation within a
few days.
Thomas NJ Day and John j. Tracey, who are
to-day named as corporators for the Carnegie
company, were yesterday named as corporators
for the Republic Iron and Steel Company which
was capitalized at S5oO00.OO0. It is said the
company, which obtained its certificate to-day,
will include practically all Of the steel and iron
interests of the country, and some abroad, with
the exception of the Federal Steel Company,
which incorporated here some time ago
with a capital Of 5000 600, 900. The New-Jersey
Title and Trust Company Of Jersey CITY is
named the New-Jersey representative OF the
new company.
While the negotiations looking to the con-
solidation Of the iron and steel interests of the
United States were continued yesterday in this
city, no definite announcement Of the result
of the conferences il any result has yet been
arrived at was made public 1t is generally
understood that the National Steel Company,
the American Tin Plate Company, the American
Steel Hoop Company, the National Stamping
and Enamel Ware Company and the Carnegie
interests have agreed upon plan of consolida-
ton but Federal Steel representatives still deny
positively that their company has entered or
will enter the combination. AS to the position OF
the American Steel and Wire Company there
seems to be not a little doubt, but opinion IN
clines TO the belief that that corporation nas
ioined the big combination. and II Is also sala
that the storganized Repu6hc IRON anu
Company also will be merged into the glgahllc
new company. 49,, l.. ~
.,The iron Age" a trade journal which is an
authority on iron and steel matters, sa'u III lls
Isgue of Yesterday that H G. Frick-- who mas
been in the conferences at the Holland House
this week holds authority from Andre" Cai
neeie 10 dispose OF the latter's enormous steer
interests THE Iron Ages artlce OH tne 0
solidation situation is in part as lo''o"'
u "a true that negotiations progressing, @ pSt
thev have not reached any point when ;Sin speSeiine
fncts are available nor are any OF the ieadlhs
nartIes disnosed to make official announcefIIenits en-
P, hacaUse the negotiations in their Initial
stages II is a fact. however, tnat stePo 81 steel
taken to create f6grmsd gre@td bV good authority that
Andrew Carnegie before he sailed signed tes
ment which gives II. C. Frlck ah,an,o ana laJ Interests
,dng tne uur the Carnegie Steel Company. lltnitSu &
the r. e Frck Coke Company the nter'pis me pittsburg
9nsserer q Lake Erie Railroad and in the hocKe
fcer contracts second party 10 ,ts te IRON min
g and ID Vesse property In fact II may De soda
.hot he original movement toward the Das
ton Which br IoSn ofg D Rockefecr and H. H. Rogers
Of the Standard Oil company, y,,oot,Totfons are the
since h hers AID those who associated WIN
them in the National Steel Conphni(, steel Hoop
Tin Plate Company and the An'e'''"
C4mpany has IL that the Federal Steel company naa6{
i.ePVpit fourth interest which VIII pe "o5ur, 5roor
Is 10 De nronounced doubtful as yet hlinon hunlor
but ,ieS tha1 With the movement also the end
Steel and Wire C3mpany vet gut no negotiations have
II seems oe' nrith them Others mentioned are
Jones & laughing OF Fnmpany rsnT Of scranton and
obapon Penn.