The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-06-24


tircIy Absorbed by the United
States CorpOratiOn-An Enormous
Movement OF Freight on the Lakes
CLEVELAND. June 24-The con-.
sumption of pig iron is at present the
greatest in the history of the United
States. The consumption last week
was 800 000 tons, which is az the rate ot
Is, 700, 900 tons a year. Consumers are
urging immediate delivery of iron, which
shows that their supplies are running
low In fact, the production of pig iron
last week was far below the consump-
ton From the foundries enquiries for
from three to six months supply are
beginning TO come in, and the prospect
is that active buying can be reported
before the end of the month Whether
the contracts, when they are made, win
be for a half year or only for the sum
mer months will depend upon develop
ments of the near future
The domination of the Carnegie Com
pany in the affairs Of the United States
Steel Corporation becomes daily more
clear. Henry Wick. the President of
because President Schwab removed the
headquarters of that company from
Youngstown TO Pittsburg without con
sulting him. and now the Carnegie
Company is to absorb the National
Steel Company altogether. This viii be
done by means of lease, because some
of the old stockholders of the National
Steel have net yet surrendered their
stock in exchange for Steel Corpora
tons stock, and until this is done the
independent organization must in form
be kept up
The American Steel Hoop Company is
also scheduled to go out of existence.
It will be merged into the Carnegie
Company. The Carnegie Company viii,
therefore. occupy exclusively the rich
est and best territory in the United
States. and will be more Formidable
than ever. Every office OF importance
IN the Steel Corporation is filled by
Carnegie man, and the methods of that
company are those employed in the
management Of the big concern
The mining Offices Of the Steel Corpo-
ration have all been removed to Duluth
The Oliver Iron Mining Company
which managed the mines of the Car
neSIe Company and occupied a whole
floor in the Carnegie Building in Pitts
burg, have Al! been removed to Duluth.
The transportation Offices, which &C.
cupy whole floor in the Perry Payne
Building in Cleveland, under the name
OF the Pittsburg Steamship Compas y,
are also to be removed to Duluth This
immense department is under the man
aSement of James Gayley, the first vice
president of the Steel Corporation. also
Carnegie man.
The American Tinplate Company and
the American Sheet Steel Company will
both be merged into one subsidiary cor
poraucn, with headquarters at Pitts
burg These two companies have beer.
doing an extremely profitable business.
Prosperity reigns in the lake region
and things are being driven as they were
never driven before. 1t is almost i'm
possible TO keep track of things A rec
ord for the movement OF freight is no
sooner established than it is broken
The season viii be unprecedented for
the movement of an ennraa.s quantity
OF fIeISIip wTJiIn brief period of time
There are 5000, 009 tons more ships on
the lakes this year than there were last
year This does not mean so much new
construction, but rather that RockefeI-
Ter tied Up all his ships last year The
movement Of ore is terrific. and the
rear OF congestion at the ore docks at
Lake Erie portsSawhich would tie I'D
the boats, has sent the grain shippers
AFTER tonnage Contracts have Eeen
made for grain carriage from Duluth
at cents per busheI for September de-
livery This is equivalent to sI12 per
ton Tor ore The present contract rate
Tor ore Is so cents, which means that
the ore rate is going to advance %
cents per ton by September This viii
equal the bonanza rate of last year. and
means big profits for the shipowner.
contracts were awarded to the : r1ar
lcan Shlpbuilding Company this week
Tor three new steamers for the Mutual
Transportation Company They are to
De se6 feet in length, IS feet beam. and
q feet deep, and are to come out in the
spring Of 1902 - ..--