The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1900-04-04
FRICK -CARNEGIESU[TOFF
The Two Men Agree to Bury ths
Hatchet After a Conference.
ALL INTERESTS IN ONE COMPANY.


pho Lawsuits win BE DiscoD,inued-Car-
nesie Steel Company. Lake Transpor-
,ation Lines. Coal Field and Coke In
dastries Are All Combined-New Com
pauy Has a Capital of Se0o.000.OOo.
PIrrsBURG, Penn. (SpociaD.-Under an
agreement just signed the contest pet"een
Andrew Carnegie and II. G.. Frick has been
closed, the lawsuits are ordered stopped
and m amicable arrangement has been
made between the two great steel and iron
manufacturers by which not only are the
rarring elements get at rest, but great
steel and iron corporation has been formed
shat will be far reaching In its influence
and have capital Of over $500, ,ooO, 900. All
she coke manufacturing interests owned
by Mr. Frick and others allied with the
Carnegie interests will be Included IN the
new company, whose operations VII De
amonc the most extensive in tue world.
The result has been reached as the out
come OF conference between Mr.. Frick's
representatives and Mr.. Carnegie, which
continued for two days and which hnaliy
eliminated In the signing OF an agreement,
both for themselves and their 1rlenoS anu
those allied in business with them. The
agreement covers not only all tue points at
ISSUE between the two leaders, but also
tbe taking into the combination OF ali tne
ailiod CONF panies in whlch tpey Were lnui-
vidually interested.
The conference between the great manu-
Mcturefs took place ut the Hotel Brighton,
Atlantic City. All the points at issue were
discussed with frankness on each slde. MT.
Carnegie was uble to convince representa-
lives OF bis former partner that there were
the most cogent reasons why toey snouio
work together in harmony.
There were present ut the meeting henry
Pbipps. Francis T. F. Loveioy, Lawrence
O. Phipps, Andrew Carnegie, Charles M.
Schwab. Andrew VI. Moreland, James Gay
iey Thomas Morrison aud Daniel n. Glenn
son.
When at las. the agreement was reached
il was formally drawn up and signed by all
persons present, not only for themselves
but also for ali the stockholders In the
concerns that they represented. Ihere
we're two main p 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 Ior tho firms which were In litigation
but also for all their individual holdings
IN outside companies. agreed that all these
allied com panies of whatever kind and ma
ture, should be combined In one common
concern and put under the management OF
one immense corporation, with caplsai OF
500. 100000.
How far reaching these agreements are
Is shown by the fact that they cover not
only the Carnegie Steel Company, with its
$4,000 900 Of paid in capital, but also the
coal mines, tho fleet OF boats on the great
Sakes, the iron mines, the railroads, the
transportation lines, the immense coal
fields and the coke interests, and, in addl-
aion to these, many other interests in SUBJ
sIdiary companies which have their exist
suce in and draw their support from these
primary ones.
Mr.. Carnegie, it is said, met the men
Who have been opposing him In a most
friendly spirit; all differences between
them were settled, and the utmost cor
diallty now exists between the hitherto
sturdy opponents.