The daily news., 1900-03-23
FRICK AND CARNEGIE
REACH AGREEMENT
Their Differences Adjusted
and Suits Withdrawn.
GIGANTIC TRUST FORMED

All Concerns la Which They Are In
terested Are Merged Into One Cor
poratIon with a Capital of $780,
100000.
ATLANTIC CITY. March - Under an
agreement just signed, the contest be-
tween Andrew Carnegie and II. Q.
Prick has been closed, the Jaw suits are
ordered stopped and an amlcable az
rangement has been made betwesu the
two steel and iron manufacturers by
which not only are the warning ele-
ments set at rest. but a great steel and
iron corporation has been formed that
will be far reaching IN its influence and
have a capital OF over $500, 900, 600
This result has been reached as the out
come OF a personal conferences between
Mr. Frick and Mr.. Carnegie, winch
continued for two days and which
finally eliminated In the signing of an
agreement for themselves and their
friends and those Alhsd Ia business with
them. The agreement covers not only
ali the points OF difference between
them, but also takes in all the allied
companies In which they were indIvid.
ually interested
All the points at issue were discussed
with frAukness Mr. CarneRie was
able 20 convince mis- former partner that
be had no unfrlendly spirit, and that
thsre were the most cOgeDt reasons why
they should work together In harmony.
That the conference resulted in the
most friendly relations between the two
men may be inferred from the fact that
they went 10 New York together aud
that al traces Of bitterness mad disAp-
peared.
a practical agreement was reached
Monday nlg1t AMI arrangements made
for another meeting Tuesday. Inc
meeting was q long and interesting one.
When at last this agreement was
reached It was formally drawn 40 and
: gued for al the stock holders IN the
concern. who were represented IN the
meeuug. These were the two main
points:
First. that all differences be settled
and all ltgatIon be STOPPED at once;
second. tnaE all present acting not only
for the firms which were III litigation,
but also Tor all their individual hold
ngs II outside companies, agreed that
all these allied companies. Of whatever
6Ind and nature, should be combined
ID one common concern and put under
the management OF one immense corpO-
ration, incorporated under the law o.
New jersey. with a capital Of 500, ,000,-
coo How far reaching these agree
menJs are is shown BY the fact that
they cover not only the Carnegie Stesl
company, with its $Jo. OOu. 900 OF paid III
ca apltal, but also the coal mines, the
feet OF boats on the great lakes, the
iron mines. the railroads. the Transpor-
"a non lines, the immense coal fields and
the coke interests, and. In addition TO
these, many other interests in subsldi-
airy companies. which have their organ.
izatious, which have their existence and
draw their support from these primary
organizations. All these are merged
into one collosal corporation. The de-
tails OF corporation we're agreed upon
aud the stock IN the new corporation
that should be taken by each of the
com panIes in exchange for their hold
ings were settled.
The charter OF the new corporation
is 10 be drawn within a few DAYS. and
a. soon aS The necessary papers can be
pre- pared the incorporation vail be COM
-1araI