Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1900-03-29

Pittsburg, March 23.-The Carnegie
steel company. limited, becomes a.
stock company with a capital of $780,
100000, the famous iron clad agree
ment" is wiped out ard all litigation
between the partners in the Carnegie
company is dropped, while H. C. Prick,
former vice president of the company.
virtually secures all he contended for.
These facts were embodied in an au-
thorized statement issued last night
by the Carnegie Steel company. limited.
Under an agreement just signed the
contest between Andrew Carnegie and
II. G. Prick has thus been closed, the
law suits 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 a capital of
over $3.50 900, 900.
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 sign
ing of an agreement, both for them
selves and their friends and those al
lied in business with them. The agree
Nment covers not only all the points al
issue between the two leaders, but al
so the taking into the combination OF
all the allied companies in which they
were individually interested. The con-
ference between the two great manu-
ufacturers took place at the Hotel
Brighton. Atlantic City, and lasted for
two days. All the points at issue were
discussed with frankness.
The practical agreement was reached
on Monday night, and an agreement
reached for a meeting Tuesday, at
which the contract was to be executed
That meeting took place and there
were present Henry Phipps, Francis F.
Lovejoy, Lawrence C. Phipps. Andrew
Carnegie, Charles NJ. Schwab, Andrew
Nj. Moreland, James Gayley, Thomas
Morrison and Daniel NJ Clemenson.
The meeting was a long and interest
ing one and it was not until late TEES
day afternoon that an agreement was
reached on all the details of the gi-
gantic corporation. There were two
main points in the agreement
), First-rhat all differences should be
settled and all litigation stopped at
once.
Second-That those present acting
not only for the firms which were in
litigation, but also for all their indi-
vidual 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 a capital
of $3.50 900 900.
How far reaching these agreements
are is shown by the fact that they
cover not only the Carnegie Steel com
pany, with its $4,000 900 of paid in
capital. but also the coal mines, this
fleet of boats on the great lakes, the
iron mines, the railroads, the trans
portation lines, the immense coal fields
| and the coke interests, and, in addi-
ton to these. many other interests in
subsidiary companies. which have their
existence and draw their support from
these primary ones.
All these are merged into one colos-
sal corporation. The details of the cor
poration were 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
1 nOCTORS m MEENT