Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-03-09
THE COAL COMBINE.
Additional Details of ] Pisrpont Nor
gan's Great Scheme---The Coffin
Combination, and Other Trust
News.

gan Uredt ScHeN6---Iu6 Ooluu
Combination, and Other Trust
News.
New York, March S.-The Evening
Post, referring to the rumored coal
combination and ]. Pierpont Morgan's
connection with it, to-day says:
''The union of the Scranton Coal
Companies is believed to have been eff
fected through deposits Of their stock
with the Guaranty Trust Company of
this city. The purchase of these COM
panies is part of a comprehensive plan
for control of the anthracite output,
and while it is said that no more in
dependent collieries are at present the
subject of negotiation, yet it may be
taken as assured that the Scranton
mines were first taken under control
because of the dangerous promotions
which the proposed independent an
thracite line had assumed; and that
others will be taken if the projectors
of the plan for uniting the anthracite
output see any endangering their plans
for maintaining prices on a profitable
basis.
Negotiations are known to be in
progress with operators in other dis
tricts.
THE visit of J. P. Morgan to Eng
land has been taken as having bearing
on the coal deal. 1t was stated to-day
by those in a position to know that
Mr.. Morgan's visit had no relation to
any such mission, nor is his return to
be made the occasion for any definite
announcement of coal combination.
That is just what he and the anthra-
cite presidents wish to avoid.
at is, nevertheless, a fact that all
anthracite interests are now striving
to regulate the outputs and make the
industry fairly profitable.
Columbus, O., March S.-A special to
the Dispatch from Upper Sandusky, O.,
says it is learned on the most reliable
authority that the capital stock of the
new casket combine will be S2S, 000,0 600.
and that J. Pierpont Morgan, OF New
York, will float the bonds. The trust
will consist of one hundred and thir-
teen casket companies and casket hard
ware factories, one-third of which will
be shut down as soon as the trust IS
incorporated, which will be done in
New Jersey. Two months may see the
combine completed.
Cleveland, Ohio, March S.-The
Sauntry iron mine on the Mesaba
range has just been sold to the Ameri-
can Steel and Wire Company. The
price expressed in the deed of transfer
is 0,0O0, and other valuable considera-
tons, but it is said the actual figure is
$500. 900. The mine covers five forties
and lies one half mile north of Vir-
ginia. The ore is of a mixed charac-
ter, about the same as the Oliver mine
The bulk of it is on-Bessemer. but
there are spots that contain Bessemer
ore.
Youngstown, Ohio, March 8.-Repre-
sentatives of the Mahoning Valley Iron
Company, the Brown Bonnell Iron
Company and the Andrews Company,
three local rolling mills outside the
two great combines, are in Chicago to-
day forming a combination with repre-
sentatlves of 81 other mills west OF
Pittsburg. 1t is reported here that the
big deal will be consummated tomor-
row and that the capitalization of the
new concern will be $20.000,000.
Since the formation of the National
Steel Company outside mills are said
to be experiencing difficulty in obtain
ing steel and the erection Of new
steel plant is also under considera-
ton.
Chicago, March S.-The Convention
of manufacturers Of brooms, after a
days SESSION, adjourned to-day, having
decided to raise the price of brooms
throughout the United States fifty
cents a dozen on all grades under $3.50
per dozen.