Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-01-11
IRON AND STEEL MAKERS
INTERNATIONAL TRUST.
CANADIAN, AMERICAN AND ENG
LIsH INTERESTS ARE REPRE-
SENTED IN COMBINE.
AMERICAN SHEET STEEL co.
AND SEVERAL LESS PROMINENT
AMERICAN ENTERPRISES IN
GUIDED IN THE LIST.

LONDON, January 10.-The negotia.
tons toward the formation of another
American iron and steel combination
which have been carried on recently in
London, reached a point this evening
where their elimination became prac-
tically assured. The companies intend
lug to amalgamate are The Canadian
Steel Company, the Lake Superior
Power Company, the American Sheet
Steel Company, the Otis Steel Com
pany, the Pittsburg Steel Company and
tue Wellman-Seaver Company, oil
Cleveland. Combined with these. il
the deal is completed, will be several
English firms, who will take part in the
enterprise financially and CONNER
cially.
AT this evenings conference there
were present Mr. Seaver, president OF
the iWellman-Seaver Company; Mr.
Pew, president Of the Canadian Steel
company; Mr.. Douglas, of Philadel-
pnia, president Of the Lake Superior
Power Company; Mr.. Wicks, president
of the American Sheet Steel Company;
Mr.. Head, managing director of the
Otis Steel Company, and Mr.. Huber, o.
-le Plttsburg Steel Company.
Che moving spirit Of the projectors
appears to be Mr. Pew.
II is the intention of the projectors
to erect plants at various places with
&c Welland canal as an outlet. The
object is to minimize expenses, and,
acting with the English co-operators,
m. 1y1%r- !
The project may be termed an Eng
| -American-Canadian combination
10 take advantage of existing oppor-
tunities. 1t is freely discussed in the
English press. The reason for holding
the meeting in Lonuon was that Eng
.-sh capital and trade are desired. The
capitalization has not yet been decided
upon.
PITTSBURG. Pa, January 10.-The
Canadian Steel Company has been the
project Of E. ~. Butt. the local me-
chanical engineer, who is chief engin-
eer. The company secured five thous-
and acres OF land on the Welland canal
in the town OF Nelland. and organized
company that is to have SIS .00O. 00O
capital, part common and preferred
and some bonds. The company is to
have three blast furnaces and a com
plete steel plant Of 900 tons daily
capacity. The company proposes to
take advantage Of the bounty of SO a
ton on pig iron offered by the Domin-
ion government, and - ton on all
steel made from Canadian ores. In ad-
dition 10 this t.. Ontario government
offers an additional bounty Of 81 a ton
on steel The company possesses ore
lands in Northern Ontario and it pro-
poses to haul its coal from the Pitts
burg district ana make its coke in Sol
way ovens at the works
The LaAe hyperion Power Company
now has immense ore deposits. is build
ing blast furnaces at Sault Ste Marie.
where it has large pulp works. and the
Carnegie Company is now using four
OF its lake ocean vessels TO haul steel
% England. John Pitcairn, Of the
1.Ctsourg Plate Glass Company. is a
large stakeholder. F. H. Clergue il
general manager.
Robert Bentley. OF Youngstown. sec
rotary Of the new Youngstown Iron
Sheet & Tube Company, which proposes
erecting large pipe works at YOungs-
town. said tonight that Mr. Wick and
llr. Huber. organizers Of that company
mad gone to London merely to inyes-
tigate the Perrin patent Tor making
tubes. He sald that he did not know
OF their connection with any other
company. the Youngstown concern
W. have a capital Of $1,000 900 or 81
VUy.050, and will have a daily capacity
o. 5ye or 500 tons. Mr.. Bentley had no
idea Of what the London story meant