The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1901-10-30
ENGLISH STEEL TRUST
One Forming With Capital Of
$500, 10000
WORK OF AN AMER1CAN PROMOTER

/ Though IOilOWtnE FUNDAMENTALLY the
same Lines rs the United states
steel Combine, It VIII Have No Di-
rect Connection with It-May Affect
American Iron and steel Market.
The English press brlstles with para
graphs about the tobacco war between
the American and British trusts, says
| the London correspondent Of the New
York Tribune but n far more lmpor-
| tant movement which has been in
progress since the spring escapes OBJ
| seryatlon This is the projected ANAL
| gamation Of the business interests OF
the largest iron and steel manufac-
turers In the United Kingdom.
The formation II the United states
steel corporation was the signal for
! rimilar concentrations Of capital IN Eu-
| rope. The German ironmastcrs and
steel manufacturers, under the leader
ship Of the krupps have been endcav-
oring 10 orgauizc AN Industrial COM
! bnation and the Belgian mine own
ers aud iron and steel manufacturers
! have been moving In the same dircc-
ton. The interests Il both those coun-
tries are centniod w n few hands and
| these combinations, while rot yet ef-
| foctcd are easy In comparison with
| the amalgamation Of British iron and
/ ttecl manufacturers, whose interests
| here arc Of tremendous magnitude and
| inertia. British conservatism has OBJ
structed the application Of new prin-
ciples TO the concentration OF capital
and the lcssenlng OF Industrial com
petition.
Protractcd negotiations have been re-
| qulred. but combination is being ar
| ranged 10y a group OF the largest iron
/ and steel manufacturers Of the north
aud south. with the help Of an Ameri-
can organizer. This combination win
| control the manufacture Of rails In the
United Kingdom aud will have cash
capital OF f20.OO0,OO0, without a drop
/ of water. and when another group Of
! large manufacturers Of iron and steel,
| with whom negotiations are now In
| progress. is drawn In the capital will
be increased to fiOOOOO00.
The American organizer IS John r.
Bartlett. who effected not long ago a
| AMlNnlINliOu III AAlt VII AAtAAlAAtA' AhA us
trade and won the confidence Of large
| group Of English capitalists 10y his
| skill and practical intelligence In con
| Quoting financial operations. He visit
ed during the spring nearly all the i'm
portant iron and steel works Of the
| United Kingdom. and after looking
over the ground and meeting the mas
ters Of this enormous industry he sub
, mitted to them a plan for effecting a
combination Of their business interests.
He attributed the depression Of the
iron and steel trade TO three general
causes-nrst. old machinery and old
methods Of doing business. witha lack OF
any systematic department for keeping
those IN the trade Informed regarding
the organization and methods Of their
principal competitors; second, injurious
competition. by which manufacturers
were bidding against one another for
the purchase Of supplies and the sale
of products. thereby increasing the cost
OF production and the expenses of man
agement and OF marketing; third, ag-
gressive competition from the United
states and Germany In the home and
foreign markets, for which British
manufacturers were themselves to
blame In allowing the Americans and
Germans TO surpass them in technical
skin and in Industrial organization. lie
suggested rs n remedy consolidation OF
the iron ana steel industry OF the Unit
ed Kingdom into a single corporation
for mutual protection and defense
against overwhelming foreign competi
tion.
There have been many conferences
and the manufacturers, while intensely
/ Interested have wanted time for re
r fcctlon and have been waiting on the
fence 10 find out what corporations
would lead the way. Many of the mos
important iron and s'eel concerns II
the United Kingdom now have The
. whole matter under consideration. Il
E there be an English Morgan benin,
this iron and steel combination, ms
suspect, he still remains in the back
ground,
While the organizer Is an American
Z the projected enterprise is eNclusvcl!
2 English, and is not In any way con
/ ncctcd with the United States Stcc
}. | corporation. IL Is not organized In hos
4 | tillty 10 the American combination II
| the same industry, but as uecessar.
= measure OF mutual protection and sci
v defense for the Immense masses o
p English capital Invested In the iron an,
I steel manufacture. /, Is signal proc
that while english manufacturers ar
not flexible and Initiative like the GcI
d mans they are gradually adaptln
n themselves with characteristic eautio
aud sluggishness to the new oconoml
aud commercial conditions.