The age-herald., 1901-05-19
NJ CONSOLIDATION SAYS JAMES B0WRON In an interview He States No Such Effort Made TALK THAT OF NEW YORKER if There Should Be an Amalaamation of Interests This District Would
 Not Be Seriously
 Affected.
 
TALK THAT OF NEW YORKER

According to statements made yester- day morning to a representative of the Age-Herald by James Bowron, former vice-president and treasurer of the Ten nessee Coal and Iron Company, no active steps looking to a consolidation of the coal and iron industries of this district have been taken by any officials of the local companies. Particularly is this true with reference to an amalgamation of the stocks of the Tennessee and the Sloss- Sheffield companies.
 Mir. Bowron goes further and says that no move in the direction has been made within the past year, and that no six men or even twenty-six men own enough stock to give a controlling interest in the companies to a pool. He states that he has been closely connected with the off, cials of the Tennessee company, and they have positively assured him that no con- solidation of interests have been dis cussed.
 The Effect of Consolidation.
 During the talk regarding the possi- bility of consolidation-a theory Mir. Bowron secuted as being thoroughly inn aginary-the question of what effect such a consolidation would have on the local field with special reference to possible changes in the management, reduction of forces and changes in prices was asked
 This question was replied to at length, MT. Bowron asserting that he considered there would be little if any reduction of forces or changes in price, except so far as selling agents at other points than the home city was concerned. There would | ot.4w1 tx1 k1z ARf al r<.rf tons, but ther would be exceedingly lit tie reduction of forces In this district, as men now employed were active and valu- able.
 With reference to the statement re- garding the consolidation of the Colorado Fuel and Iron Company, the Republic Iron and Steel Company, the Pennsyl- vania Steel Company and the Tennessee Company, which was recently published in press notice from Chicago, MT, Bow row stated that President Baxter had settled the question in positive denial It was additionally stated that such a de- nial was really unnecessary. as, on its face, the consolidation of such companies could have no effect whatever, and would be thorough absurdity, they being non competitive.
 MT. BoWron's Talk.
 MT. Bowron said the question of the consolidation Of the four companies you have reference to is one that should be settled beyond any doubt by the applica- tion of small article of common sense. The companies are widely separated and are competitive, so what could be a reasonable object in amalgamating them into one large organization? What could the promoters hope to effect? There cer- tainly could be no reduction of expenses, or savings made in any conceivable way. So we are left with the only solution of motive to question of speculation. And it seems the public-the well-informed. investing public-would be more than likely to look on the consolidation as a bad transaction. 8.sa
 Really, the picking up and placing of these four companies, all scattered at great distance from each other and none competitive in the least, would be like picking up four objects in 9 room-a chair, hat table, desk-and attempt ing to consolidate them. And as to the speculative part of the motive, it would be like pitching up coin. calling heads or tails. The public misn take to the proposition and the public might not The chance is that it would not.
 Continuing, he added, but there has been no move made in an official way