The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-02-11
Report That Henry c. Friek Is
Hampering the Negotia.
tons IL Untrue.
SCHWAB WILL BE PRESIDENT.
Head of Carnegie Concern to Con-
troll the COmbine-American
Steel and Wire Company |
Willing to Be Absorbed.
REPUBLIC SPECIAL

SPECIAL
New York. Feb. 10.-Neaot1ations for the
formation Of the Steel Trust projected bv J.
p. Morgan-for there 10 no longer any doubt
that a single corporation rather than Q
harmonious working agreement between
competing companies IL fntended-are pro-
ceeding rapidly. The report that Henry c.
Frick Is In some way hampering the nego-
tiations is not true.
Mr. Frick's name has been prominently
brought forward in connection with the
deal by which Andrew Carnegie agrees 70
surrender his Carnegie Company stock for
bonds in the new billion-dollar trust. Some
have averred that Mr.. Frick would be
the president Of the Steel Trust. while Pitts
burg advices are to the effect that he
may block the whole deal"
Charles II. Schwab. the present head Of
the Carnegie Company. and not Mr.. Frick.
Is to be the president of the trust. That
much Is settled. Mr.. Carnegie made Mr..
Schwab's selection for this place a condi-
ton Of the sale of his stock. Mr.. Schvab
Will be aided by an Executive Committee.
On which such men as Judge e. H. Gary Of
the Federal Steel Cc>any. II. H. Porter
and Alfred. Clifford are likely to figure.
companies In interest and will manage the
greatest corporation In point Of capitaIi.a-
ton ever Heated in this or any other
country.
Friek.s Position.
As for the story that Mr.. Frick NAV
block the deal. an authority on the matter
Il have no desire to belittle any one-e.-
peeially so able a man as Mr.. Erick; hut
It Is a fact that Mr.. Prick has not the
Neither 10 has a Se ths di = sdess n, nes 80 IA
The fact that Carnesie's holdings in the
Carnegie Company amount to SIG, SIS. 90 Of
the total of $50 .00OO0o of stock, while those
OF H q Erick Win Ia the raFDoQf rnincrffu
holder. are SIS. ~. 900, makes evident at .
glance the correctness of this view. II II
S viii o Sep1 e ae : that ss.t the ~ M %ISa1,,i interests Gs
gle stockholders But they might all re-
1ect this offer and the Morgan scheme
It is stilI doubtful whether any Of the
Moore properties. except the National Steel
Company-the direct competitor Of the Fed
troiled BY the trust: but It was learned to-
day. that not only do the directors Of the
various concerns which ave been men
S SsRsd a q soo aie ere te GO GO Il the fs ssad thai but ( S M!
Barkis. they are all within"
willing to BE D~ev0ured.
This IL notably true in the case Of the
| directors Of This corporation do not then.
selves know exactly where they stand. out
they look forward with pleasure to being
with the TRUSTS digestion.
II presume" said one Of the projectors Of
this gigantic combination to-day, that the
new company will be c~onservatively CAPT
talized- l ave been led to believe that al
Of the Moore properties would go I'm. But
even leaving them out Of consideration
wheh you reckon upon the Carnegie and
Federal companies. the American Bridge
and National Tube companies. and reieca
that the American Steel and Wire Company
tion right there. haven't your
n prospect Of taking the American Steel
and Wire Company into the combination
tive member Of the syndicate. who wert
startled some time ago by the manipulation
Of the securities of this concern. Mr.. Nor
gan. however. has had American Steel anc
Wire on the financial disSecting table. anc
he thinks wen of II. No matter what thu
executive management may nave been, thu
plants Of the company. which are IN chargs
Of practical. conscientious men. AVE beer
found to be In good condition. and many Of
them would require comparatively small
changes to enable them to turn out q new
line Of products.