Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-03-08

Last Friday morning the Register
published an exclusive industrial
story of great Importance.
1t was to the effect that the Ma
tional Steel, American Hoop, Ameri-
can Tin, the new steel combine and
a fifth interest, not named, would
be united in one gigantic corpora
ton.
Rumors alleging the consolidation
of one or more of these interests had
heretofore crept into print, but there
was no proper authority for them, and
it remained for the Register. which
had access to inside information, to
give general outline Of what was
proposed. The article attracted wide
attention, and was copied by many
papers, but generally there was doubt
as to the truth of the story, and the
day OF publication number of tele-
grams, asking for the Registers au-
thority were received. The Register de-
clined to furnish Its authority to any
one, but had confidence in the source
of It's news, and said SO. 1t was
also remarked, as predicted by the in
formant, that the story would be de-
MED by authority, and also ridiculed.
Both OF these things happened imme-
diately, for on Saturday morning, the
Intelligencer, which did not have the
news, informed it, readers there was
no truth in the Register article in the
following words and figures, with the
caption, 1.-The Funny Column:
The funny" column Of the Resteter yes
ter6ay was devoted to & cock az bul s DRY
to the effect that there will be consoli
dation Of the National Steel, American Tin
Plate and other iron and steel companies
(not including the Carnegie interests) into
81 0co, 0D0JJ trust. TIE story is simply q
rehesh Of what has Been printed along this
new or substantial about the story.
Mr. c. A. Robinson, district manager of
night that he knew nothing Of such q, com
soiidsatiOn and that he would know of 1t IL
such q move were on foot
The Intelligencer also telegraphed
this denial all over the United States,
gentlemen here and elsewhere.
The following special telegram from
New York partially confirms the
Register's story:
'.The proposed $200, COG, 900 consolida-
tom Of the National Steel. American
Steel Hoop and American Tin Plate
Companies is disclosed to be further
uadyancsd TIN generally supposed.
sonly obstacle now is a difference
as to the basis of valuations. One
contention is that the shares Of the
several concerns be treated alike Ma
tional Steel and Hoop interests have
objected to this, as the securities Of
their company is selling for more than
the shares Of the Tin Plate organiza-
tion They claim that their allow
ance OF new stock should be accorded
to actual market, and not face value.
at seems that the plan Of merger
was suggested by those who are chiefly
interested in the Tin Plate Company,
the common stock of which closed on
the exchange at 3OA, as against 1914
for Hoop Common and A for National
Steel common. These figures, how
ever, are much closer together than
they were week or two ago. There
has been a drop OF four or five points
In National Steel and Hoop, and the
reason may not be far to seek-narne-
ly, hammering, in order to get them
down to the level Of Tin Plate. When
this is accomplished, it is supposed
that the National Steel and American
Hoop interests will be ready to con-
sent to the merger on an equal basis
of exchange for all"
This explains the situation. but
leaves out the sheet combine. Bye and
bye the whole truth will come out,