The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1901-10-24
Proposed Combination of Iron
and Steel Manufacturers.
DETAILS BEING ARRANGED
The New Combination Win Have Capital Of
fla,qOo,OOe- Similar Novemeu, by
Other British Business Ia.
terssts Expected.

NEW YORK. Oct sS.-Ths protest
ed amalgamSton of the business inter-
eSts ~ the largest iron and steel man
ufacturers IN the United Kingdom has
50 far escaped observation. says he
Tribune'S London correspondent. The
formation ~ the United States See,
Corporation was the signal for similar
concentrations " capital in Europe. The
German lronmas;ers and steel MANN
facturers, under the leadership q the
krupps. have been endeavoring TO or
ganiEe an industrial combination snd
the Belgian mineowners and iron and
steel manufacturers have been moved
In the same direction The interests
o; both those countries are centered IN
a few hands, ana these combinations
while no, ye; effected are easy IN COM
parison with the amalgamation Of Brit
fish Iron and steel manufacturers. whosa
interests here are Of tremendous mag
nitude and inertia.
Protracted negotiations have been re-
Quired. but a combination is being ar
ranged by group ot he larges: iron
and steel manufacturers Of the north
and south with tha help OF an Ameri-
can organizer This combination will
control the manufacture of rails in ne
United Kingdom and win have a cash
capital of eeoOol000. without a iro7
Of water; and when another group ~
large manufacturers u iron and steel
with whom negotiations are now In
progress IS drawn in the capi;a, Will BE-
Increased 10 e4oOoO,eO.
The American organizer Is John r.
Bartlett who effected no, long ago a
combination in the manufacturing trade
and won the confidence o. a large group
Of English capitalists by his skill anl
practical intelligence n conducting
financial operations. He visited dur
ing the spring nearly An the iron and
steel works Of the United Kingdom, and
after looking over ;hs ground and meet
ing the masters Of the iron and steel
Industry a combination Of their business
interests.
These proposals We're accompanied by
a preliminary memorandum Of the
scheme OF combination worked out with
precision and painstaking care, show
ing that a financial syndicate would
b. formed to underwr.te and furnish all
the cash required for the successful or
ganization OF the amalglmatIon COM
pany, each vendor having the privilege
OF Joining 1t.
There have been many conferences.
and the manufacturers. while Intense
iy interested. have wanted time for r.
fection. Many Of the most importan,
iron and steel concerns in he United
kingdom now have the whole matter
under consideration.
While the organizer l. an American
the p-1iec.ei enterprise Is exclusive
ly English. and .s not connected in
any way with ,he United s,a,es Steel
Corporation. T. is not organized IN hos
tildv 20 the American combination in
the same Industry. bug as q necessary
measure Of mutual protection and salf-
defense for the immense mass of Eng
Iish capital invested In iron and steel
manufacture. The concentration Of cap
ital IN the rion and steel trade will
open the wav for similar movements
among English mine owners. shipping
lines and textile trades AMI even rail-
ways which are now operating against
one another.