New-York tribune., 1901-03-17
TIE STEEL INDUSTRY.
RECENT AND PROBABLE BUSINESS CON
SOLIDATIONS

REASONS FOR AMERICAN AscENpENcf SUPERIOR
ORE AND MANAGEMENT
host of events and tendencies has kept Tn"
iron and steel industries of this country
spicuously before the public for the last two nr
three years. But negotiations which
nearly completed for closer concentration of
interests than has existed hitherto and the pros
pect of a financial and industrial combination
such the world never before witnessed. lerd
even greater Importance to the subject at th"
Pre- sent time
Not long go nearly ell of the American man
ufacturers of the plate which forms the basis
Of tnwarc organized a. consolidation among
themselves: the leading wire manufacturers dill
the same and in comparatively short time
similar action was taken by the car wheel
founders. steel bridge builders tube manufact-
urers steel hoop makers and other groups of
workers in iron and steel. Some of these con
soidations more complete than others. but
in almost all these different branches of indus
try there were number of independents who
did not join in the movement.
Meantime the producers of the raw material
required by these manufacturers were proceed
ing in like manner. The old Illinois Steel Com
pGny. of Chicago. was reorganZed ihe Fed
eral Steel Company ana absorbed the properties
Of the Lorain company The National Steel
different companies in OHIO and Pennsylvania.
and the Republic nearly thirty. the latter being
scattered from Minnesota t. Pcnnsy lvanid and
from ohio 20 Alabama. But while these or
gInizations sustain fairly close relations with
some of the consultations which arr their Gus
toners they have held aIoof from each other and
also from the Carnegie company. their great
rival Hence the possibility that clos harmony
may be established between them in tn" near
future is 4 matter Of tremendous Importance.
one Of the most potent influences in stimulat-
ing the iron and steel Industries of the world
during the last thirty years was tho invention ny
HessrInrr of q cheap process of making steel
This lrd to the introduction of steel for railroads
the frames Of office buildings such the hold
est rchitects ami engineers dared not dream
Of quarter Of century ago. To he Sir
Hcniy's wonderful process is now declining in
favor and is likely To hc surpassed before long
10y the open hearth method. hut it has conferred
au inostimahle boon upon mankind.
In some respects the steel manufacturers Of
the United States have enjoyed exceptional ad-
vantacrs Of late years. The deposits Of iron
in the Eastern states. which have been util-
iZcd from pre- Revolutionary times. CAV" the
country special opportunity of competing
With other nations. hut thr openn; of the ~p.en-
did beds in UpT"r Michigan gave American
iron and steel Industries Il wonderful stimulus
FiraIly still richer stores were discovered up
in Minnesota the north side of Lake, Su-
pcrior Th"sr lie the surface of the ground
ana be- mined with a steam shovel. Some
thing lk" nine-tcnths Of the iron produced in
the United states just now comes from Lake Su-
perior and nearly half nf il from the Vcrmi0n
and Mesaha ranges. Eugland's mines are slowly
becoming exhausted and her iron is 50 deep in