The Savannah morning news., 1901-01-23
A MONOPOLY OF STEEL THREATEN
En-


It is beginning to look as if there would
be a struggle between Andrew Carnegie
and John d. Rockefeller for the control
of the iron and steel business of the coun-
try. Some days ago we called attention
to the announcement of Mr.. Carnegie that
he is contemplating the erection of a
monster tube and pipe plant on Lake Erie.
That announcement was intended as II
warning to Mr.. Rockefeller, who owns or
controls several of the great iron and steel
plants. Mr. Rockefeller was about to I'M
dertake the manufacture of certain kinds
of steel articles of which Mr.. Carnegie
considered he had q monopoly.
Il is now we'll understood that If Mr..
Rockefeller enters the field which Mr.. Car
nego regards as his own, the latter will
enter the field occupied by Mr.. Rockefel-
Ter. They will cut prices and the one
having the longest purse will eventually
own practically all of the steel and iron
plants i'm the United States.
But will they fight each other? That is
the question that is now being asked. The
capital stock of the iron and steel plants
which MIR. Rockefeller controls amounts
to about $iOOOOO,OOO. Mr.. Carnegie esti-
mates that he controls about $500, 900, 900.
In the event of an iron and steel war $780,
100000 would be pitted against $780, 900, 900.
II would take a good while for either of
these capitalists to exhaust himself. But
neither of them wants TO lose any of his
money. 1t is said, however, that Mr.. Car
negie doesn't care TO make any more. He
thinks he has as much as he can give
away during the balance of his life. He
doesn't believe that any man ought 40 die
rich-at least that is what he says.
1t is stated in the dispatches that Mr..
Carnegie has offered to sell all of his steel
interests to Mr.. Rockefeller for $500, 900, 600
Mr.. Rockefeller is considering whether it
will be cheaper TO buy Mr.. Carnegie out
at his own price or to try to drive him
out of business by cutting prices, 1t is
thought that he will not undertake to fight
Mr.. Carnegie, but will buy him out. Then
all the iron and steel interests viii be
brought under one management, and cap
italized at S7OO,O0O,OOO With such a capt.
taHzation as that and all of the great steel
plants in the country under one manage
ment, IL would be possible for Mr.. Rookie
feller to control the iron and steel bust
ness of the entire world.
II may be that he is aiming TO do that.
His income is enormous. He must have
opportunities for investing 1t. He has
about oil Of the railroads he wants and he
has a monopoly OF the OH business. In
deed. IL is difficult TO tell what he does
not own, and yet he is just as eager TO
make money now as he was before he had
made his first million dollars.
The developments in the struggle that is
going on between Mr.. Carnegie and Mr..
IRockefeler viii be watched with the
greatest interest. one thing that is certain
is that the fewer hands the great indus
tries get into the greater the probability
Of legislation hostile to trusts. Vast for
tunes, such as those of Rockefeller and
Carnegie, are not regarded with satisfac-
ton by the masses nor by those who are
profoundly concerned for the futuEe of the
republic.