New-York tribune., 1901-02-12

has already reached decision 10 the capitaE-
cation of the new company which is going
absorb the Carnegie company and most of the
other great steel companies. He has decided
that the capital of the new company shall be
S9oO0O0Oo0 according to this story One-haIe
of the stock will be common. the other half pre-
ferred. and the company viii also issue $500
Coo.O0o of bonds.
The minority Stockholders of the Carnegie
company are. it is said to get the same terms
from the Morgan syndica-e that Mr. Carnegie is
10 receive, For each 81 Onc share they viii re-
celve 81 500 in the new stock. As the par value
OF the stock of the Carnegie company is $780,
100000. the total sum at which il is valued by
the Morgan syndicate is S24O.O0OOOo This
stock. except that held by Mr.. Carnegie, is TO
be exchanged for stock of the new company ar
three TO one. Most OF Mr.. Carnegie's stock will
be paid for in bonds. At least this is the popu-
lar understanding here OF the situation. At the
ratio of three to one the holders OF stock in the
Carnegie company will receive for each $1,000
share. valued to-day at $1,000 fifteen shares OF
the common stock. par value s1oo. and fifteen
shares of the preferred stock Of the new com
pany OF the Morgan syndicate. 1t is further
said that the stockholders Of the Federal Steel
Company viii exchange their common stock
share for share for new common stock and their
preferred stock at TWO 70 enc ror the new pre-
ferred stock
On what basis the stocks of the other existing
companies are 70 be exchanged il is impossible
to get any estimate from good sources tonight
of the bond issue of $500. 900 600 which accord
ing to reports in this city the Morgan syndicats
has settled upon. it is said that S16O 900 will
be issued TO present holders of bonds of the COM
panies and to Mr.. Carnegie in payment for his
stock. and the other S14OOOOOOo is to be sold for
the purpose of raising new capital
II generally rumored In the Carnegi.
Building when the analgamation was effected
soms OF the offices will be moved 70 New-York.
In case this is true the executive, general bank
ing. costs statistics and other similar depart
ments will be taken TO the metropolis leaving
here only the operating ana portion of tn.
order department. About five thousand peopl.
employed in the various Carnegie Offices. Of
whom fully four thousand will go to New-York
or obtain other places here.
II was impossible last night 10 secure any
confirmation denial of the above dispatch
from any OF the men who have been figuring
prominently in the negotiations for the transfer
of Mr.. Carnesie's stock holdings and the forrna-
ton of the rumored vast consolidated corpora
ton which seems 70 be an assured fact
OF the future. The stock capitalization il
immense TO stagger the imagination. but
and record SURPRISING aggregation OF capital
and in this day and generation no operation
seems impossible Of accomplishment in the A.
nancial world because of ITS size however tre-
mendOus. Beyond the Carnegie company the
Federal Steel Company and the American Steel
and Wire Company, the corporations 20 be en-
braced in the gigantic combination can as vet
be only guessed at. But by common consent in
Wall Street the American Bridge Company and
the National Tube Company are TO be included
in the list. and il is generally believed also that
the National Steel Company the American Tin
Plate Company. the American Sheet Steel Com
pany and the American steel Hoop Company
the four called Moore propert!es'-as well
as the Pressed Steel Car Company. and per-
haps also the Republic Iron and Steel Company.
are TO be component parts OF the projected new
company. The capitalizations OF these corpora
tions have been frequently printed in the last
fortnight. the aggregate of their outstanding
common and preferred issues being about
$500 600 600 par value
The report in some papers yesterday that Mr.
Carnegie was 10 receive S25.OOO.OOo cash in part
payment for his stock was said yesterday bv
men acquainted with the progress OF the negoti-
ation. to be far from accurate, and II was de-
HAANs RESTAURANT. 18th 81 and Col Avs
Diner Recherche q 81, every eve. Also ale. Muste
-Advt