The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-02-18

The steel trust being now considered an
accomplished fact. 1t becomes the greatest
industrial and trading combination in hu-
man history. The Hudson Bay Company,
the East India Dutch Company and tas
Dutch Company We're pigrnies compared 10
II. j. Pierpont Morgan becomes the great
est iron master in the world. From a clerk
in his fathers banking house he has riser.
step by STEP until he Is the most powerful
financier on earth. In him is centered con-
troll OF railroads, coal, iron, steel and TIA
plate.
John ID. Rockefeller, who is associated
with Mr.. Morgan in uniting the steel IN
terests, controls oil. gas and copper.
The gigantic interests now under the con-
troll of Morgan and Rockefeller are esti-
mated to represent $S,ooo.0oo,ooo.
COVERS A LARGE FIELD
New York as the headquarters OF this
combination will greatly surpass London as
a financial center. The size and resources
of the United States are strikingly Illus
trated by the fact that the Morgan iron
and steel trust really only covers the de-
velopment in one section of the country
the central West II does not extend into
the South, or into the vast territory Of the
Mississippi river. Those are the fields for
the great combinations OF the future
Scarcely any OF the great iron and steel
mills Of the East have gone into the Nor
Observation-Disclosures combine. Jones
& Laughlin, OF Pittsburg. the largest pri-
vate concern In the iron business in the
country. have not entered the trust They
have large plant and millions OF capital
However the combine absolutely controls
some lines OF business absorbed and viii
dominate the entire steel. tube. wire and
rail market for many years Although the
Morgan trust is generally looked on as
being merely incidental to the general tend
ency toward industrial Capitalization, Il
has been actively FASTENED by the mutual
antagonisms OF John w. Gates, Of the
American Steel and Wire Company. and
Andrew Carnegie. They have slashed
prices at times right and left
The actual foundation OF the several COM
binations now joined In the horgan-Rocl<e-
feller-Carnegie deal was preceded by the
following trade agreements, mostly 70 regu-
late prices and occasionally to regulate pro-
ductlon:
1915. Nails, iron and steel beams. tacks.
galvanized ircn.
1881 Structural iron. tarbed fencing.
rail makers. malleable iron. wire cloth.
stamped ware.
1854. Bolts, tubes. iron pipes. nuts. South
ern ore producers.
1885. Iron and steel rails.
1856. Atlantic coast ore producers. bridge
builders of the East.
1877. Northwestern ore producers. wrought
iron, car springs.
1855. Rods.
| 1859. Western bridge builders. national
agreement on pig iron, forgings.
1890. Tools. boxes
1888 Lake Superior ore producers
1894 Armor plate.
The great combine probably will be known
as the United States Steel Company. with
Charles NJ. Schwab. Mr.. Carnegie's protege,
as president. The concerns absorbed that
are best known 10 the general pubic are:
Edgar Thomson steel works Duquesne
steel works. Homestead steel works. Frick
coke works, Illinois Steel Company. sralth
Chicago steel works Johnstown (Pa.) mills
and wire plants In st. Louis. Joliet. An
derson. .Waukegan. San Francisco. Worces-
ter. Mass. Lawrence. Kan. Braddock Pa.
Everett, Wash, cherryyaie, Kan, tube
works throughout Pennsylvania. Ohio and
New York, American Tin Plate company's
works at Elwood and Montpelier. Ind. and
other tin plate works at Anderson, Ind.
100000 PERSONS AFFECTED.
A concise idea OF the vastness OF the
combine is hard TO phrase. II can be ~
allied In only slight measure when it
is shown that there are $4,000 persons en-
| ployed In the mills and $4,000 IN other de-
partments. This means nearly 100000 per-
sons are directly dependent upon the daily
working OF the concerns. t. new steel
trust u at the same time stronxsss