The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-03-23

date deserving employees can be
interested and received into the company
from time to time upon exactly the same
terms as others have been admitted in
the past.
"All the various interests, including the
H. G. Frick Coke Company will remain
as now, under Pennsylvania charters the
steel company taking a Pennsylvania cor
porate charter instead of renewing its
articles of limited partnership.
charter under the laws of New Jersey
enables control OF the interests concerned
wherever situation, in any State or terri
tory of the United States. Other pow
ers are also obtained which are essen
tial to concern whose sphere OF opera
tions has grown to embrace the mines
and markets of the world, with railroads
and fleets, something never contemplated
when Pennsylvania present restricted
laws were adopted. The stocks and bonds
of the new corporation are taken by the
present owners.
1.-THE new company absorbs the stock
of the coke company and thus all of the
coke company's stockholders become
stockholders of the new concern, includ-
ing Mr.. Frick whose interest in the
steel company will be thus protected.
'Mr. Carnegie has given President
Charles H. Schwab his proxy to act as
required, and Mr.. Schwab will continue
as the executive head of the new COM
pany.''
The properties to be included in the
reorganization of the Carnegie Steel
Company Limited, and allied interests.
are as follows
The Carnegie Steel Company, Limited,
owning the Edgar Thomson Works, Bes-
semer, Penn, including Edgar Thomson
blast furnaces, Edgar Thomson foundry,
Edgar Thomson Steel Works, the Du-
quesne Works, Duquesne, Pa, including
Duquesne Blast Furnaces and Duquesne
Steel Works; the Homestead Steel Works,
Munhall and Homestead, Penn, including
Bessemer Steel Department, open hearth
steel department, armor plate depart
ment, and 13 finishing mills; the Carrie
Flast Furnaces, Rankin, Penn; the Lucy
Blast Furnaces. Pittsburg, Penn: the
Upper Union Mills, Pittsburg, Penn; r.. e
Lower Union Mills. Pittsburg, Penn; the
Latimer Coke Works, Latimer, Penn.
the Youghiogheny Coke Works, Douglas,
Pa; the Carnegie Natural Gas COMPANY
the Youghiogheny Water Company the
Mount Pleasant Water Company, the
Trotter Water Company, the Union Rail-
road Company, the Slack Water Railroad
Co., the Youghiogheny Northern Rail
way Company the Pittsburg, Bessemer
and Lake Erie Railroad Company all the
coal and coke property of the H. G.
Prick Coke Company in Fayette and
Westmoreland counties, Pennsylvania, in
Guiding 10000 acres Of unmined coal, 90
600 acres of surface lines, II 900 coke
ovens, $500 railroad cars. and $500 dwell
ings; the Pittsburg and Conneaut DOCK
Company; 1876 per cent of the capital
stock of the Pennsylvania and Lake
Erie Dock Company one fourth of the
capital stock of the New York, Pennsyl-
vania and Ohio Dock Company; the OIL
yer Iron Mining Company, owning all of
the stock of the Metropolitan Iron and
Land Company, all of the stock of she
Pioneer Iron Company 1913 per cent OF
the stock of the Lake Superior Iron Com
pany, 9S per cent of the stock of the Sc
curity Land and Exploration Company,
one half Of the capital stock of the
Pewabic Company; the Pittsburg Lime
stone Company Limited, the Pittsburg
Steamship Company. including all of its
vessel property, etc, eleven steamships
and two barges with carrying capacity
Of 100000 tens per annum.
1t is learned tonight from one in close
touch with the Carnegie Company that
the new organization will be capitalized
at $3.50, 600 coo.
The same gentleman says Mr.. Fricls
will remain in the new company in the
same relative position he held just
previous to the bringing of his suit