Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-04-21


Carnegie Story Discredited.
NEW YORK, April 20.-A special
meeting of the directors of the Ameri-
can Steel & Wire Company was held
to-day in the New York Offices of the
company. The chief purpose Of the
meeting, according to reports, was to
take some action relative to the re-
cent closing of twelve of the COM
pany's mills by order of chairman of
the executive committee, John w.
Gates. The meeting was scheduled to
begin at IL o'clock. At that time Mr..
Gates and three or four directors OF
the company we're present, but Presi-
dent Lambert, who arrived from Chi
cago last night, had not put in an ap-
pearance.
After a continuous session of four
hours the meeting adjourned.
The following formal announcement
was made:
1.-THE board of directors discussed the
general business situation and unani-
mously decided that until the over
production of materials had been dis
posed of the executive committee may
make such reductions in prices as they
may find necessary to accomplish this
and resume operations at the idle
plants.
THE meeting will on May
="
There were a number of newspaper
men present when Mr.. Gates reached
the Office, and he requested them to
leave. He had nothing to say regard
ing the rumors concerning his relations
with the company.
1--WE stopped guessing" he said. II
find that some of my recent guesses
have been bad, so I've decided to say
nothing"
Henry Seligman, of j. & W. Selig-
man & Co., and another representative
Of the firm entered the meeting room
shortly after IL o'clock. The .Selig-
mans are supposed to represent the
anti-Gates faction.
Mr.. Gates was seen later and he
would only say:
There has been no change in the
management of the company"
Mr.. Seligman and Mr.. Strauss declin-
ed to say anything as to the action
taken. Later when a rumor spread to
the effect that they and Thomas Dolan,
of Philadelphia, had resigned from the
board, Mr.. Seligman said:
I'VE have not resigned and the meet
ing was adjourned to May T."
The presence at the meeting of Rob-
ert Bacon and President Gary, of the
Federal Steel Company, caused some
speculation. Mr.. Bacon Is a director of
the Federal Steel Company. He refus-
ed to talk about the object of his visit
to the meeting to-day and President
Gary was equally as reticent.
Another director of the Federal Steel
Company was seen and asked to give
his views as to the possibility of a
coalition of interests of the two COM
panies.
He said that so far as he knew there
would be no closer relations between
the Federal Steel Company and the
American Steel & Wire Company than
exists at present.
There were various rumors regarding
the part taken in the meeting by Presi-
dent Gary and other officials of the
Federal Steel Company present. Ac-
cording to one, notice was served that
the contract for $1,000 tons of steel
billets which the Federal Steel Com
pany has with the American Steel &
Wire Company will be cancelled unless
Mr.. Gates is put out of the chairman
ship.
Another rumor was that the Steel &
Wire Company will be held strictly to
the contract and not be allowed to post
PObO tAC Acceptance VI TIC U1llClS- i uO
latter was thought more likely to be
true, as the billets had been contracted
for at a very high price.
PITTSBURG, Pa, April 0.-The reports
from New York and Chicago hat the Car
negie Company is purchasing large blocks
of the stock of the American Steel & Wire
Company, and that H. c. Prick. late chair
mar of the Carnegie Steel Company. Ltd,
was TO become chairman of the wire COM
pany. succeeding Chairman Jno. w. Gates.
are not credited in P%ittsburg by officials
of the Carnegie company. 1t was the gen.
eral impression that even If the Carnegie
purchases OF stock were true, under the
existing strained relations between Mr..
Frick and the company, he would not be-
come chairman of the new allied concern.
The Clark Case.
WASHINGTON, April 2O.-It was intend
ed TO hold a meeting of the Senate COM
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