Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-03-22
M|LLIONA|RES
SHAKE HANDS.
Carnegie and frick Settle All Their
Difficulties,
WILL WORK TOGETHER NOW
Form n s,apendous Corporation with
s2OO,O0O,0OO Capital and Rail-
roads, Boats, Mines, shops.
TEarly Dispatched


New York, March 22.-The Herald
says;
Under an agreement just signed the
contest between Andrew Carnegie and
II. c. Frick has been closed, the law
suits are ordered stopped, and an ami
cable arrangement has been made be-
tween the two great steel and iron
manufacturers by which not only are
the warning elements set at rest but
a great steel and iron corporation has
been formed that will be faT-reaehing IN
It's influence and have a capital Of over
S9COOOO,OO0.
This result has been reached as the
outcome Of a personal conference be-
tween Mr. Frick 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 rot only all the points at Issue
taking into the combination OF all the
allied companies in which they were in
dividually interested.
BOTH MEN FRIENDLY.
The conference between the two great
manufacturers took place at the Hotel
Brighton, Atlantic city and lasted for
TWO DAYS. All the points at issue We're
n strfth ftat l. 81 gi1 IL
Mr.. Carnegie was able TO convince his
former partner that he had no unfrlend-
ly spirit, and that there were most
to.ent reasons why they should both
work together In harmony That the
conference resulted In the most friend.
ly relations between the two men may
be inferred from the fact that they
camc to New York together and that
all traces OF bitterness had disappeared.
The practical agreement was reached
on MONDAY night, and an agreement
reached for Il meeting on Tuesday at
which the contract was 20 be executed.
That meeting took place and there We're
present Henry Phpps, Francis 7. +,
Logejoy Lawrence {. Phipps, Andrew
Carnegie. Chas. NJ. Schwab Andrew NJ,
Moreland. james Gayley. Thomas Nor.
rison and Daniel NJ. Clemson.
The meeting was a long and interest
ing one, and It was not until late Sues-
day afternoon that an agreement was
reached on all the details Of the glgan-
tic corporation. When at last this
agreement IVES reached II was formally
drawn up and signed by all persons
present, not only for themselves, but
also for all the stockholders In the con-
Germs that they represented. There
were two main points in the agree
ment:
First-That all old differences should
be settled and all litigation stopped az
once.
second-That those present. acting
not only for the firms which were In
litigation, but also for all their indiyid-
ual holdings In outside companies,
agreed that all those allied companies
OF whatever kind and nature, should be
combined In one common concern and
put under the management OF one i'm
mense corporation. incorporated under
the laws OF New Jersey, with capital
of 500 100000.
TAKES IN GREAT FIELD.
How far reaching these agreements
are is shown by the fact that they cover
not only the Carnegie Steel company.
with its 100000 900 OF paid In capital,
but also the coal mines, the fleet Of
boats on the Great Lakes. the iron
mines, the railroads, the transportation
lines. the immense coal fields and the
the coke interests In subsidiary COM
panles, which have their existence and
draw their support from these primary
ones.
All these are merged into one colossal
corporation. The details Of the cor
poration we're agreed on. and the varl-
Gus amounts OF the stock In the new
corporation that should be taken by
each Of the allied companies In ex-
change for their holdings were settled
Mr.. Carnegie. Il Is said met the men
who have been opposing him In most
friendly spirit; that all differences be-
tween them we've settled aud that the
utmost cordiallty now exists between
the hitherto sturdy opponents.
The charter Of the new corporation
Is 10 be drawn within few days, and
as soon as the necessary papers can be
prepared the Incorporation viii be CON-
pleted