New-York tribune., 1900-04-10
CARNEGIE EAND THE CRAMPS
CLOSE RELATIONS BELIEVED TO HAVE
BEEN ENTERED INTO.
FORMER LIKELY TO DO THE STEEL AND
IRON BUSINESS OF THE LATTERS
ARMOR PLATE WORKS.
fBr TELEGRAPH TO THE TR1BuNE.I


Pittsburg, April 9-The meeting at Atlantic
City Saturday between H. C. Frick E. c.
FELTON,. president of the Pennsylvania Steel Com
pany; Charles NJ. Schwab, president of the Car
negie Company, and S. H Cramp of the Cramp
& Sons Ship and Engine Building Company. is
taken here as confirming the rumor which has
been current for several days that the Carnegie
Company has entered into an arrangement
with the Cramps by which the former corpora
tion is to handle all of the iron and steel busi-
ness connected with the armor plate work of the
Cramps. and to control also the shpbudng in
terests of the Cramps on the Great Lakes. thus
enabling the Carnegie Company itself to con-
struct the iron vessels which it may in future
need for the transportation of it's ore.
The rumor has been quietly discussed here for
time, but not much weight attached TO
1t until to-day. when man supposed 70 be
closely connected with Mr.. Frick and interested
in the present Carnegie Company refused to
deny confirm the report
The foregoing report from Pittsburg il well
founded, is of great Importance and significance
In May, 1898 it may be remembered there was
a report, on what was declared at the time to be
credible authority that the famous shipbuilding
and gunmaking firm of Vickerss Sons & Maxim,
of Barrow-in- -Furness England, about to
take an interest in the Cramp company, furnish
ing Sl.000O00 additional capital, which would
bring the capital stock Of the company to S1O,-
100000 Nothing came Of those reported nego-
tiations but the present -umOr that an arrange
ment between the Cramps and the Carnegie
Company is under discussion would seem 10
be entirely reasonable and possible
The new Carnegie Company, with its $3.50.
100000 fully subscribed capital and it's
s1600000o0 bonds soon to be issued, as
in, on
the highest authority is in an excellent position
to acquire additional properties, however ex-
tensive, which it may regard as desirable The
Cramp company is perhaps the most extensive
builder in the United States of vessels for the
new Navy well as Of steamships OF the mer
chant marine In the construction of its war
ships ii consumes large quantities OF armor
plate OF which the Carnegie Company is one
of the largest two makers in the United States
and with closer relations between the two cor
porations the manufacture Of all the armor
plate called for in future by the Cramps would
be assured to the Carnegie Company.
The Rockefeller and Carnegie interests were
competitors last October for control Of the fleet
of about thirty lake vessels owned by the Amer
lean Steel Barge Company, which was finally Sc
cured by the RockefeIlers. The total annual out
put OF iron OF the Carnegie Company is
about 45OoO0O tons of which mines leased from
this quantity beng carried for the Carnegie
Company by the Rockefeller boats. This leaves
transportation for 3.000,000 tons q year TO be
provided for by the Carnegie Company-or the
Carnegie Steel Company it then called
and as a step toward meeting this condition the
Carnegie Company contracted with the Ameri-
can Shipbuilding Company for the construction
of five large new steel vessels. to be completed
this spring, bringing the number of its boats on
the Great Lakes to about fifteen. But the Car
negie Company will need still more ore steam
ers, it is understood and by consolidation with
or control of the Cramp company IT would be
able at any time TO build carriers speedily
and reasonably through availing itself OF the
shipbuilding facilities of the Cramp interests on
the Great Lakes
The Pennsylvania Steel Company the taking
over of which by the Carnegie Company is be-
lieved in Pittsburg TO be foreshadowed by the
presence Of its president at the Atlantic City
conference, Is an important factor in the steel
industry of the United States. Its capital is
S6,oD,000. It owns eight blast furnaces with
an annual capacity of 50S 900 tons of pig iron;
rail mill. capacity 4S0 600 tons and for 165 600
a shipbuilding and a bodybuilding plant in
Guiding the plant at Steeton, Penn, with an
nual capacity of 10000 tons; the Bessemer
Steel Works, capacity 100000 tons, and the
Maryland Steel Company's plant at Sparrow's
Point, Baltimore, having an annual ca
pacity of 100000 tons of steel rails II also owns
a One-half interest in the Jura qua Iron Com
pany of Cuba.
Samuel H. Cramp is to sail for Europe to-day
on the Kaiser Wilhelm der Crosse He was
registered at the Waldorf-Astori last night but
begged TO be excused when a Tribune reporter
called.