The Penn's Grove record., 1900-03-23
FRICE- E-CARNEGlESJITOFF
The Two Men Agree to Bury the
Hatchet After a Conference.
ALL INTERESTS IN ONE COMPANY.
The Lawsuits Win Be observation-disclosures
negie Stool Company, Lake Transpor-
tation Lines, Coal Field and Coke In
dustrics Are All Combined-New Conn
pany Has = Capital of 5000 1000. 900.

tation Lines, Coal Field and Coke In
dustries Are All Combined-New Conn
pany Has = Capital of 5000, 200. 900.
PIrTsBURo, Penn. Especial. Under an
agreement just signed the contest between
Andrew Carnegie and II. G. Frick has been
closed, the lawsuits are ordered stopped
and an amicable arrangement has been
made between the two great steel and iron
manufacturers by which not only are the
warning elements set at rest, but great
steel and iron corporation has been formed
that will be far reaching in Its influence
and have capital Of over $200, 900 ,003. All
the coke manufacturing interests owned
by Mr.. Frick and others allied with the
Carnegie interests will be included In the
new company, whose operations will be
among the most extensive in the world.
The result has been reached as the out
come OF a conference between Mr.. Frick's
representatives and Mr.. Carnegie, which
continued for two days and which finally
eliminated In the signing OF an agreement.
both for themselves and their friends and
those allied In business with them. The
agreement covers not only all the points at
issue between the two leaders, but also
the taking into the combination of all tho
allied companies In which they were indi-
vidually interested.
The conference between the great manu-
facturers took place at the Hotel Brighton,
Atlantic City. Ali the points at issue were
discussed with frankness on each side. Mr..
Carnegie was able to convince representa-
tives OF his former partner that there were
the most cogent reasons why they should
work together In harmony.
There were present at the meeting Henry
Phipps, Francis T. F. Lovejoy, Lawrence
G. Phipps, Andrew Carnegie, Charles M.
Schwab, Andrew M. Moreland, james Gay
ley, Thomas Morrison and Daniel NJ. Glenn
son.
When at las. the agreement was reached
It was formally drawn up and signed by all
persons present, not only for themselves,
but also for all the stockholders In the
concerns that they represented. There
were two main points In the agreement:
First-That all old differences should be
settled and all litigation be stopped at
once.
second-That those present, acting not
only for the firms which were In litigation
but also for all their individual holdings
In outside companies, agreed that all these
allied companies, of whatever kind and ma
ture, should be combined In one common
concern and put under the management oil
one immense corporation, with capital OF
$2OO, 600 600.
How far reaching these agreements are
is shown by the fact that they cover not
only the Carnegie Steel Company, with its
$50, ,OO0, 900 OF paid In capital, but also the
ccal mines. the feet OF boats on the great
lakes, the iron mines, the railroads, the
transportation lines, the immense coal
fields and the coke interests, and, In addi-
tfon to these, many other interests In sub.
sidiary companies which have their exist.
ence In and draw their support from these
primary ones.
Mr.. Carnegie, 1t is said, met the mon
who have been opposing him in a most
friendly spirit; all differences between
them were settled, and the utmost COR
diality now exists between the hitherto
sturdy opponents.