The age-herald., 1901-03-12
Tennessee, SIOss and Republic Companies are Mentioned 4 MIGHTY COMBINATION Represents Combined Capital of
 Nearly $100,0O0,O00 CURRENT TALK ON THE STREETS Believed To Be We'll Founded, But Lacks confirmatlon-Its Relation
 To the United States Steel
 Corporation.
CURRENT TALK ON THE STREETS

Rumors of the consolidation of three of the largest industrial companies in the district are current and while noth- ing more tangible has been obtained there well founded. The rumored combination consists of the Tennessee Coal Iron and Railroad Company, the Soss- Sheffield Steel and Iron Company and the Republic Iron and Steel Company, representing nearly s1oO, 900 capital.
 In this connection it is stated that it was deemed avisable by the promoters of the United States Steel Corporation not to include the Southern properties in the side to refute the cry of monopoly which has already been raised in some quarters
 Whether or not the proposed combina- tion is being formed through an under standing with the big steel combine is conjectural, but it is believed that some agreement between the Southern concerns and the United States Steel Corporation exists
 The principal officers of the Tennessee and Sloss-Sheffied Companies are absent from the city attending the annual meet ings of the companies, being held respec lively in Tracy City, Tenn, and New York City, and as the principal offices of the Republic Company are located in Chicago, no authoritative statement could be obtained regarding the rumor
 The Property Involved.
 These three companies own twenty eight pig iron furnaces, one steel mill and two rolling mills in Alabama and Tennessee, and make the bulk of the iron of these two States. Their combined cap ital stock and bonded debt Is nearly $1O000o, GOO, divided as follows: Tennessee Coal Iron and Railroad Company s23,- O0O,000 Sloss-Sheffield Steel and Iron Company $20.000,0 900, Republic Iron and Steel Company $5O,OO0, O0O The majority of the properties of the Republic Company are in Ohio and Illinois, and consist of furnaces, rolling mills and steel mflls Its rolling mills make about 67 per cent of the mill products of the entire coun- try.
 These companies own, besides the in- dustria1 plants mentioned, many acres of valuable mineral lands and are operating many coal and ore mines, the outputs of which are consumed in their own fur naces and mills.
 
 New York Gossip. Concerning the rumor that the Tennes- see Company would enter the big combi- nation, the Wall Street Journal says:
 "The rumor that Tennessee Coal and Iron was to enter the United States Steel Corporation was not credited in good quarters. People whose information or Tennessee Coal and Iron affairs has been regarded as authoritative said they had heard nothing on the subject beyond the street rumor. They had no hesitation in expressing their disbelief in the story According to their view the advance in the stock was directed against the short interest, which has come into the stock on knowledge of the necessity for a bond issue and in belief that the company s position will be prejuidicially affected by the combination of other steel compa- nies."
 The Wall Street Journal further says
 There is said to be a good under standing between the packers of the Unit ed States Steel Company and the man. agement of the Tennessee Coal and Iron. The point is understood to be that the latter company will not go into the com bination but is tc be a friendly outside interest, affording, from the standpoint of United States Steel, the advantage of offsetting charge of monopoly"