Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1901-02-11
SCHMAB FOR ONE HEAD
NEW YORK PAPER SO ASSERTS AS
TO STEEL COMBINE.
Another Paper says 1t Thought the Car
negie General Offices Will BE
Moved to New York.

Moved to New York.
New York, Feb. 1.-THE Herald
was expected to say in part today:
Negotiations for the formation OF
the huge steel corporation which is
j. p Morgan's protector there IS
no longer any doubt that single
corporation rather than a harmonious
working agreement among the com.
peting companies is intended-are
proceeding unhampered by Henry G.
Prick.
Charles NJ. Schwab and Mr.. Prick
are to head the new company, aided
by an executive committee, on which
such men as Judge Il. IL. Gary, IL. IL.
Porter and Alfred Clifford are likely
Frick blocking the deal, an authority
on the matter said:
MIR. Frick has not the power to in
terfere in these negotiations; neither
has he the disposition to do So"
The fact that Mr. Carnegie's hold
ings in the Carnegie company amour
to SS6. 379 900 of the total of $160.
0o0,o00 of stock. while those of II. G..
Prick who is not the largest minor
ity holder are S15,4S4,000, makes evil
dent at a glance the correctness of
this view. 1t is quite probable that
the Morgan interests will offer 81 800
share to minority Carnegie stock
holders. But they can all reject the
offer without baking Mr. Morgan's
plans.
1t is still doubtful whether any Of
the Moore properties, except the Ma
tional Steel company-the direct COM
petitor Of the Carnegie and Federal
companies-wi be controlled by the
new corporation, but it was learned
that not only do the directors of thu
various concerns which have been
mentioned as likely to go in, feel
that it will have good effect on the
trade, but, like Barkis, they are all
''willin'"
This is notably true in the case of
American Steel and Wire, which is
not one of the concerns known as
Morgan companies. The directors of
American Steel ana Wire don't them
selves know either just what com
panies will be included or how their
stock will be valued, but they look
forward with pleasure to being de-
voured. and hope they will not in.
terfere with the trusts digestion.
The prospect of taking the Amer-
can Steel and Wire company into the
consolidation is rather puzzling to the
conservative men who were startled
ut the amount Of stock iobbery which
has conferred about that stock. The
Herald is able to say, however, that
Nh Morgan regards the concern as
an important one, nevertheless.
The World was today expected to
say i'll part:
The departure of Mr. Schwab for
| Pittsburg was interpreted as 4
sure indication that the sale of the
vast holdings of Andrew Carnegie to
the Morgan Rockefeller syndicate has
been practically closed. Before his
departure Mr. Schwab told a friend
that the published report of the i'm
mense transaction was substantially
correct.
1T is expected that before this
week is ended Mr.. Morgan will make
formal announcement of the purchase
of the Carnegie Steel company and
of the unification under the com
/ munity Of interest plan of all the
corporations in the steel and kindred
/ industries.
"ConsTmmation of the purchase. u
is thought will bring the general Of
fees OF the Carnegie company here
from Pittsburg"