New-York tribune., 1901-03-26
ELLWOOp WILL NOT FIGHT
WILL TAKE STOCK IN NEW STEEL con-
BTSATION-HANNA SEES MORGAN.

Isaac l. T-Iluood about whom rumors have beer
rersistenty circulated that he intended 10 con-
test IN rhe courts the right of tho United states
steel CORPORATION 10 absorb without the consent Of
al thesr stockholders the companies which are ia
make I'D that organization. denied yesterday any
such intention his part Mr. Ellwood reached
New-York from Chicago late on Sunday night.
SIN undecided as 10 the course he would pursue.
Yesterday. however, he issued the following STATE
ment:
i have carefully considered the whole situation.
and have decided TO deposit my stock, amounting
10 about So00 shares IN exchange for United
States Steel stock"
Nr EllWoods stock is largely in the American
Steel and Wire Company. He added yesterday that
Re would probably be large investor in the stock
of tho company.
Charles NJ schwab, president of the Carnegie
ronpany; ex-JUdge r. II. Gary, president OF the
Federal Steel Company. and John W. Gates chair
man OF the board Of the American Steel and Wire
Company. among the callers yesterday at the
Office OF J. p. Morgan e. Co. and spent half hour
q in conference with hir. Morgan concerning
: the United States Steel Corporation. Mr.. Gates
was quoted as saying afterward that number OF
matters OF minor interest were discussed among
them the printing Of the compsnys certificates OF
stock. II is said be hardly likely that the
printed certificates will he ready for distribution
before June ]. In the mean time temporary GER
fifcates will be issued.
II was believed in Wall Street that at the confer
ence the composition OF the board of directors OF
the new company was discussed, well as the Sc
lection OF the officers and il is expected that the
names ~ these will be made public before the
end OF this week
Another caller al Mr.. Morgans Office Sena-
7or Hanna who talked there with President
SchEab and other men Interested in the
formation OF the steel combnatio Senator
Hanna afterward reiterated his statement that mis-
visit had connection with the reported troubles
fn the coal mines. and that he was in no way
interested in negotiations regarding such troubles
adding that he had no idca that there any
negotiations ca foot II is understood that the
Senator's call had 10 DO chiefly with The United
States Steel Corporation. he is largely interested
IN lake transportation and is conspicuOCsly fdenti-
fed with the iron industry.
Senator Hanna Senator DepeW and some Of their
friends took luncheon at the Lawyers Club. II Is
reported that Senator Hanna here 10 secure
passage for Europe, but on that point he had
nothing 10 say.
The announcement made last week that Messrs
J. Y. Morgan & 90. have purchased what IS known
the Rockefeller interests in the ships. railways
end mines Of the Northwest confirmed yester-
Sav by Mr.. RockefelleTs representative F. T
Gates. who is president of the Bessemer Steam
ship Company the Duluth. MeSaha and Northern
Railway and the Lake Superior Consolidated Iron
Mines Mr. Gates said that the terms OF sale have
been fully agreed on and duly signed. He was not
az liberty. he said, to state the of the
oeal. He could only say that the terms We're sat
isfactory that all the shareholders would treat
% precisely alike. and that il understood that
within very few days J. r. Morgan & co. would
announce the terms 10 all stockholders s.multane-
ously.
The steel stocks as rule were steady Yesterday
with unlmporiant net changes from Saturday.