The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1901-02-22
TO HELP THE
NORTHWEST.
One Mans Opinion Of the
Recent Combine in
Iron and Steel

The great combination or iron and
steel interests OF the central west
which is being effected will be of dis
tinct advantage TO Duluth and the
country at large. 1t means that the
big corporations will, instead of com
peting with each other, present a
solid, united front to foreign compet-
itors and throw down the challenge
for control of the iron and steel bust
ness of The world"
The foregoing is a view of a Duluth
man who is probably better equipped
to estimate the effects of the combina-
ton than any other man west of
Chicago, but who desires his name
withheld from this article. Contin-
uing he said:
The forming Of Il new company,
out of the several large companies,
already in existence in the iron and
steel business will no: produce any
unfavorable changes in northern Nj in
neSota. nor anywhere else. The result
| '" 80 " WV tSrSlSC. w hoU dpDlS-
bend that the several companies will
lose their indemnity. any more than
did the subsidiary companies of tile
combinations which are to compose
the new company. AS long as they
maintain their indemnity there will
| be no changes. The forming of the
new company means much to the
northwest as under the new order of
things the demand for ore will I'M
doubleday be greater instead of less.
The mines, of course, will always be
last of any department of the COM
pany to shut down. This point,
therefore. would always be the last
to feel any unfavorable effects in the
iron and steel situation.
The new company will introduce
the best known methods known to
the science Of iron and steel business
in all its branches. When an agent
comesstO America to get prices on
some big contract he will not have to
run all over the middle west to get
estimates. He will see one man and
from him ascertain all lie wants to
know. 1t is plain that the man at
the head of this giant combination is
going to be in a position to submit
some attractive figures to the foreign
agent when lie calls to ask for bids
on big contract. The organization
of the SS00,00O.0O company is the
hardest blow to the iron industry of
foreign countries that has ever been
struck by American capital and in
dustry.
under the operation Of the iron
and steel business by the new combin-
alton, losses in one department. may
be made up in another and profits
will TINS be equalized. The effect
will be in favor of the wage Garner,
and will not be unfavorable to the
owner Of iron properties, as some per-
sons profess to think. Ii there is a
new Impetus to the iron and steel
business, as there is bound to be under
the new order of things, there will be
new demand for ore deposits. Ex-
pansion will be the fundamental D: in
ciple of the new company and that
has never meant lower wages or lower
prices far raw material.
81 believe that the stock of this
new combination will be one of the
best and most desirable securities in
the country"
The group of companies which will
control the iron and steel business of
the central west are: Carnegie Steel
company, Federal Steel company,
American Steel & Wire company,
Rockefeller ore and transportation
interests, National Steel company,
American TIN Plate company, Ameri-
can Steel Hoop company, American
Sheet Steel company, National Tube
company and American Bridge COM
pany. The only cash item in the
transaction is the payment of between
$40, 900, 900 and S25 ,000,0 600 to Carnegie.
The corporations named control irYn
mines which in 1890 produced
10. 465, 4l9 tons-more than half of all
the ore shipped from the Lake Super
ior region, the grand total being
19,059,3 1894 tons.
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