The evening times., 1899-12-08
UNITE AGAnasrCARNEGIE
Coke ana steel M7Ssiect-rers rofn.
Ing . Combine.

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fng . Combine.
NEW YORK. Dec. 8.-What appear to
be well authenticated reports. are in cir
culation here today. tkat gigantic strug-
gle for supremacy has begun between AM
drew Carnegie and Henry c. Frick. in the
steel and coke producing industry. An
drew Carnegie returned to his home, in
this city last night from Pittsburg. but
he refused to make any statement on the
impending struggle whatever. or on the
resignation Of Mr.. Frick from the chair
manship Of the Board Of Directors of the
Carnegie Steel Company.
1t was announced recently, that Mr..
Frick and the Moore Bros, Of Chica-
go. were trying to buy Mr.. Carnegie's in
terest in the Carnegie Steel Company.
First they obtained from Carnegie an op-
tion. for $50, 900. When they found
they could not raise SO much money, they
secured from Mr.. Carnegie a second op-
tion. at s125, ,OOO, 900, Of which $25.0Oo 900
was to be In cash, and the rest In 5 per
cent bonds
The consolidation under the second op-
tion has been hanging fire, and the resig-
nation Of Mr.. Frick is the first definite
news that Frick's efforts to get Mr.. Car
negie out has finally failed, and that as
the other alternative he has himself got
out.
1t has been known for a year that there
were strong personal differences between
Mr.. Frick and Mr.. Carnegie. Mr.. Frick's
friends have not hesitated to say that he
considered that the attacks which Mr.. Car
negie kept making on President Mckinley's s
Administration In connection with its
Philippine policy, were likely not only to
hurt the Carnegie Steel Company in the
armor plate branch Of its business, but also
tended to create general prejudice
against the company in Republican busi-
is therefore considered by Mr.. Fricks
friends as indicating that he and Carnegie
have parted for all time.
At the time OF Mr.. Frick's resignation,
which was on December 5. a statement was
given out at the Carnegie office in Pitts
burg that Mr.. Frick had merely grown tir-
ed of the burden involved in the active
management and preferred to become q
consulting director Of the company. Every
thing was harmonious. it was said. This
statement was not signed by either Mr..
Carnegie or Mr.. Frick, and directly oppos-
ed to 1t are certain developments which are
now in active progress In Pittsburg and
Chicago. Mr.. Frick. and the Mellon bank
ing firm, have recently secured possession
OF every large manufacturing site in the
Pittsburg district.
Mr. Frick has bought large manufactur-
ing site at Chicago. The banking firm OF
the MELONS, OF Pittsburg, who stand very
close to Mr.. Frick, has organized the Union
Steel Company, ostensibly to manufacture
wire and wire rods. The Carnegies have
secured options on a ten-thousand acre
tract of coal land in the coke district in
Washington county. Pa, and the Mononga-
hela Southern Railroad is to be extended
into the field.
Mr.. Frick has lost $3.50, 900 in cash as
his part Of the forfeit Of 81, ,000, 600 by the
lapse Of the $l5O, 900 zoe option on Mr.. Car
negie's interests, and a large sum in ad-
dition by the lapse OF the $125. .o0o,o00 op-
tion. Henry NJ. Curry has also resigned
from the directory Of the Carnegie Steel
Company, and the vacancies have been
taken by George Lauder and A. NJ. More
land, both proteges Of Mr.. Carnegie. :.
Two courses are now open to Mr.. Frick.
He may exchange his steel interests for
his coke plant, or he may go in with the
Union Steel Company and thus become al
active rival Of Carnegie in steel and iron.
When Mr.. Frick was invited by Mr.. Car
when Frick & Carnegie and Phipps 4 Co.
were merged into the Carnegie Steel Com
pany, there was mutual agreement by
which Mr.. Frick got the Carnegie Steel
at cost, and Mr.. Carnegie got the
Frick Coke securities and property at cost.
Mr.. Frick has always retained control OF
the H. c. Frick Coke Company. Thus Mr..
Frick IL he now SO chooses is in a position
to cut Off from the Carnegie Steel Compa-
ny an important part of the coke product, |
on which the Carnegie Mills depend.