New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-03-24
STEEL KINGS AGREE.
SETTLEMENT OF ALL DIFFERENCES Be
TWEEN ANDREW CARNEGIE AND
H c. FRICK ACCOMPLISHED.

Pittsburg, March 23.-An the parties in in
terest in the great Caruegie-Frick controversy
were in attendance in the Board room Of the
Carnegie Steel Company from II o'clock this
morning until nearly o'clock tonight. and as a
result IL is stated authoritativey that not only
have all matters of difference been settled and
adjusted, but that the separate and distinct
amounts which each party is to receive of the
great combined capital have been agreed upon.
The charter of the Carnegie company
has been signed by all the parties in interest.
some thirty-six in all, and the first three names
the certificate are Andrew Carnegie, Henry
Phipps jr., and Henry Clay Frick thus indicat-
ing 10 the world that the old friends and recent
litigants are again united and standing to-
gether heading the list of those interested in
the combined industries to be represented by
the Carnegie company with its capital of
S160000000 and its securities amounting per
haps much more.
Pittsburg therefore. has the credit of organiz-
ing the greatest corporation that the United
States has ever known, if not the world, in that
It starts out with $3.50 900 stock subscribed
for, over the signatures of thirty-six men. who
able to respond their subscriptions for
this
OF this amount Andrew Carnegie subscribed
over $500 100000 Henry Phpps about SIS 00O,-
600. Henry C Prick about S16OOOO0O Charles
NJ. Schwab about $1SOOOOOO and Francis T. F.
Lovejoy about SIS 100000. The rest are in scat
tering amounts. although the list IS said TO con-
tain and certainly represents in the neighbour
hood Of S2OOOO,OOO II is stated. too. authori-
tatively. that not on any paper before has there
ever been signatures representing q greater
amount Of actual worth in the mercantile world.
The result of the conference was also
agreement all minor points of detail, and the
execution of paper. signed by all of the cor
porators giving a general power of attorney to
James B. Dill the New-York corporation law
yer. who brought about the organization and
in whom all parties seem TO have much con-
fdence that he probably is the representative
under a power Of attorney in amount
ceeding any sum heretofore known to be so rep
resented.
The charter in the is likely TO be filed
on Monday Of next week, and 1t is proposed on
Tuesday and Wednesday Of next week TO close
all the preliminaries to hold the directors
meeting here in Ptttsburg and to elect the Off
GERS Of the company and arrange every other
matter Of detail, all of which at present are
fixed by agreements in writing, but which are
not accessible to the public.
There a conference this evening at the
Duquesne Club between Mr.. Dill representing
MI Carnegies interest primarily. and H c.
FriCk, Henry Phipps, Jr.. Mr.. Lovejoy and 9TH
ers. The object Of the conference could not be
ascertained, but 1t was supposed TO be to ar
range some minor matters Of detail
c. NJ. Schwab. president Of the company,
started for New York tonight IL is supposed, to
confer with Mr. Carnegie and others in that
city. It is absolutely safe TO state that all OF
the matters OF difference have been adjusted.
the suits have been withdrawn, the properties
are all arranged for transfer under the power
Of attorney stated above, and the confer
ences which may be held from now until the
close are simply to arrange matters of detail.
possibly involving the question OF the relative
subordinate positions in the large company.
expressed their qualification the speedy and
happy settlement OF the controversy between An
drew Carnegie and Henry c, Frick. and their be-
lief that the restoration Of complete harmony
among the Carnegie and Frick interests. shown
by the withdrawal Of the equity proceedings and
the formation of a great corporation to in
cIude all those interests. a distinct benefit 70
the steel and industry of the country. Adj
vices received by Rogers. Brown & Co from prom
inent steel and iron in PiJtsburg and Phila-
delphia the same effect. IT being the senti
ment in those centres that grave menace to the
stability and prosperity Of the iron and steel trade
had been removed by the agreement reached al
Atlantic City and ratified by the signatures yeSter
day d PitJsburg OF the parties in interest
a telegram received yesterday in Newark from
the private secretary Of President Charles H
SChwab of the Carnegie Steel Company in reply
to an inquiry said. The Carnegie company has
intention of establishing its plant in Newark -
Tha- disposes Of a story told in Newark Thurs
that town