The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1901-10-23
Yankee Promoter Assists Brit
ish Iron and Steel Men.
To Organize a Trust Similar to
Pierpont Morgan's.
ALL EUROPE MOVING.
Krupps at Head of Big Combine
in Germany.
Much Difficulty Is Being Exper-
fenced in England.

new 1Ork, oct. Z3.-Ine prOJecleu
amalgamation of the business interests
OF the largest iron and steel manufac-
turers in the United Kingdom has so
far escaped observation, says the Tri-
bune's London correspondent The for
nation of the United States Steel cor
poration was the signal for SIMILAR con-
centrations of capital in Europe. The
German iron masters and steel manu-
facturerS, under the leadership of the
Krupps, have been endeavoring to or
ganize an industrial combination, and
the Belgian mine owners and iron and
steel manufacturers have been moving
in the same direction. The interests OF
both those countries are centered in a
few hands, and these combinations.
while not yet effected, are easy in com
parlson with the amalgamatlon OF Brit
iSh iron and steel manufacturers, whose
interests here are of tremendous magn1-
tude and inertia
PrOracted negotiations have been re-
CURED, but combination is being ar
ranged by a group of the largest iron
and steel manufacturers OF the north
and south, with the help of an Amerl-
can organizer. This combination will
control the manufacture of rails in the
United Kingdom and will have a cash
capital of ego 900, 900 without drop OF
water; and when another group of large
manufacturers of iron and Steel with
whom negotiations are now in progress
is drawn in the capital will be in
creased to 100000, 900. The American
organizer is John r. Bartlett, who
effected not long ago combination in
the oil manufacturing trade and won
the confidence of a large group of Eng
lish capitalists by his skill and prac-
teal intelligence in conducting hnan-
cial operations. He visited during the
spring nearly all the important iron
and steel works of the United Kingdom,
and after looking over the ground and
meeting the masters of the iron and
steel industry he submitted to them a
plan for effecting a combination OF
their business interests.
These proposals were accompanied by
a preliminary memorandum of the
scheme of combination worked out with
precision and painstaking care, show
ing that financial syndicate would be
formed to underwrite and furnish all
the cash required for the successful or
ganization of the amalgamated COM
pany, each vendor having the privilege
of joining it. There have been many
conferences and the manufacturers,
while intensely interested have wanted
time for reflection. Many of the most
in portant iron and steel concerns in the
United Kingdom now have the whole
matter under consideration. While the
organizer is an American, the projected
enterprise is exclusively English, and is
not connected in any way with the Uni
ted Steel corporation. 1T is not organ
lied in hostility to the American
combination in the same industry, but
as a necessary measure of mutual pro-
lection and self defense for the i'm
mense N asses of English capital invest
ed in iron and steel manufacture. The
concentration of capital in the iron and
steel trade will open the way for SINH
lar movements among English mine
owners, shipping lines and textile
trades, and even railways, which are
now operating against one another.