Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-04-20
NAY OPPOSE GATES
Rumor That Carnegie interests Seek
to Dspose the Illinois Iron
Magnate
Action in Closing Down the Steel
Mills Brings Him Into
Disrepute.
Fricke May Become Head Of the
American Company The Mar
kets Today.
Fricke May Become Head Of the

! (
New York April 90. Wall street is
full of rumors to the effecs that John
w. Gates is to be deposed as the ex-
eoGtive head Of the American Steel and
Wire Company. These stories, which
have 3fs, .seSs:. =. circulation s;aee NJ.
Gates has had a talking habit, assume
tangible form when it is said that a
syndicate headed by Andrew Carnegie
Henry c. Frick and3the Seliginan inter
ests and the Moore brothers, has OBJ
tanned control of the company and
would put MIR. Prick in Mr.. Gates.
place. -Altho this story met many de-
malls and absolutely no continuation. ii
received respectful consideration and
had more@or les. TO do With the.
strength of steel and Wire and other.
steel stocks showing during the greater
part OF the day.
That MIR. Gates associates in the
steel and Wire company have taken up
armes against him seems evident and.
THAT an attempt will be made 10 call
him to account for his recenS PERFORM.
fanceS is admitted TO be probable. But
nothing can be learned of the plans of
lthis anti-6iates movement and it is.
Impossible get any confirmation or
even Foundation for the. story that he
is 10 lose controlso OF the company.
/ President John Lambert is expected
lin Wall streeisana itsis said that dursg
1.-the next few hours there Will be im-
5pcrtant conferences. from which Mr..
HGates will be excluded. altho he will be
the topic discussed. Wall street hopes
that ali the meeting to be held the steel
and wire directors will order the re-
opening of the plants recently shut
down.
spurred by the reports of analiiance
between tn. Federal Steel and Steel
and Wire management. President L. H.
Gary of his. former issued a statement
in which he said:
II have never suggested to any direc-
tor or any one else the ativisability Of
shutting down any, of the mills of5any of
Ethe constituent companies Of the Fed
ierai Steel Company. \ sufficient tom
| nage has been booked TO keep our mills
running full for five or SIN months from
the present time There has been no
material change in any osSSthe lines of
hour business
,Mhsthel.a rsnot the action Of the wire
company Will interfere with the steel
tbusiness generally ] do mot undertake to
predict. The wire company has been a
4 purchaser of steel hillets and steel rods
sifrota some of our companies. and a the
& present time has contracts for about
-, coo or 60.Gee tcnssnot vet delivered. ~
81 deliveries on these contracts shall b.
= postpon ii Wifi. tn#sonle extent. inter
(, feif With the running q the rod mill o
Il the Illinois Steel Company a i Joliet. bu
n that is 4 comparatively email part o.
il Our business.
.sF'rom the statsments which have beer
a Published concerning ths business a
the wire company. 1t seems 10 me tbs
trouble arises from the fact that thu
.sss,sire company Is carryingal large finish;
i ed profiuct, Witch ordinarily at this sea,
81 son of tho year is in the possessiono
iiobbers. Possibly this condition arise.
e lfram ihe9fs.ct that the jobbers have bs
q llieyed prices were too high. While I d.
Inut undertake to1eSpaess all opinion q;
.lsfot hefutnre, have seen nothing in tn
s Iicutline Of business UP 70 the presen
|stiineathat is at all discouraging. on
8 business ard earnings fat the year up i
], LINE present time have been some bette
sthan our previous SEPARATIONS. I5,tonb
: If the managers Of the iron and steel il
dlser;ies generally coincide With thepes
d ssinlistic expressions which arc said I
IhaNe eInanated from the wire oonlpans
The question of cutting prices ha
net even been considered by any of tn
officials of the Federal Steel Company
D tits constituent companies
Many of the stories regarding ste,
and wire that have been circulated $
freely Of late met denials. Presidsr
I'LL Rudolph keppler Of tn. stock sexehane
n declared that there is absolutely Il
-truth in. the report that the company
J. shares are to be drapped from the z.
Il change trading list.