New-York tribune., 1901-04-13
All, AMERICAN CAPITAL.
-, ,,ORGAN'S WORK A SURPRISE TO
EUROPEAN FINANCIERS.
.,rK N LONDON ABOUT THE FUTURE OF
THE STEEL TRADE-THE SOUTH
AFRICAN SITUATION
,coDyrirht: 1901: By The New-YOriS Tribune1

,ronyricht 1901: By The New-York Tribuneo
TnY CABLE THE TRIBUNE.l
ao, Anril 13 a. nj. Pierpont Morgan
,os IN thwart the curiosity of English
O..eroen one or two points have been made py
,iI.o-,,evrers before they have retreated under
g If keen sarcasms. He has disciaimed COM
rcf.v with the Copper Trust, repeated MI
ronegies declaration that the steel trade mere
u,u he steadied by the American comomatloh'
ona asserted that all the shares Of the United
r...es Steel Trust have been allotted in America.
:. has been a favorte theory here that this
oteantic operation could not be conducted with
ant the aid Of European capital but Mr. Nor
r.n has not confirmed it. He has been accorded
so,al honors by the English press under the
,,ne of the Steel King" and has right TO
,,.in exemption from annoyance by inquisitive
ignorance There was no guard of honor with
.tae helmets at the entrance of the banking
ace in Old Bond-st. while he was transactlng
business with his partners yesterday. The only
nerson on guard was the usual bank detective
in ordinary clothes who keeps an eye daily on
all visitors entering the dingy offices.
Current talk about combination of American
English and European steel makers is not sup
ported from any authoritative quarter EX-
merits in the steel trade do not believe that Mr..
Morgan can form an international trust even
with the help OF the Rothschids, nor that he
has any intention Of making working arrange
ment with any large steel undertakings in the
United Kingdom. The formation of the Ameri-
can trust has been followed by two immediate
effects One is the strengthening of the iron
and steel market here, and the other is the di-
version of considerable British capital to the
United States where new steel undertakings VIII
be started Neither result tends to promote an
tool
ters assert that the most serious competition
comes at present in manufactured iron from
Belgium. where the quotations far below
staffordshire prices.
England's foreign policy is being sharply
criticised by some of the newspapers and re-
views which usually support the government.
Lord Lansdowne's attitude with regard to China
is particularly objected to, and it is urged that
the time has come for England to make some
sign that she is conscious that her interests in
the Yangtse Valley entitle her to assert the
same predominance there that Russia asserts
in Manchuria.
The police authorities vafnly struggling
to discover remedy for the congestion of traf-
nc in the streets of London. The Commission
er Of Police is doing his best, but the narrow
ness Of most of the main thoroughfares makes
us task almost hopeless
There is the usual lull in the publishers trade,
ana the autumn lists are in course OF prepara-
ton. Conan Doyles and Anthony Hopes works
viii be published. like Kipling's in uniform edi
lions Maarten Martens has barely finished in
Holland a long love story which is reported to
be his best work since Gods FooI' was writ
ten. W. J. Stillmans autobiography Will be
published before May. and w. s. Lilly's work
on Renaissance" may be expected speedily, with
Max ORells Her Royal Highness, Woman
and Zola novel, entitled Work"
The force Of American competition extends
even TO the dry field Of medical literature. With
In two or three years American books on dis
eases of children pathology, surgery and medi-
clne,' published by the Appletons. have largely
displaced similar works by English specialists.
English sales Of works by DR.. Holt Charles
Reid, Thomas s. Cullen and other American
medical writers have steadily increased owing
partly to the superiority Of their mechanical
processes Of illustration. Medical literature in
England is in a fair way to become thoroughly
Amerlcanized, owing to the enterprise and sci
entihc Investigations Of the specialists Of Phila-
oeiphia, Baltimore and other cities / n F.