The age-herald., 1901-05-12
Competitors of the J, 5, Steel
 Corporation COMBINATION |S TALKED OF Capital of These Outside Concerns Amount to Millions of Dollars. Capacity of These Plants
 Is Enormous.

The United States Steel Corporation may now be considered a going concern. The preliminary details have all been afr ranged, the amount of stock and bonds of the new company has been agreed up- on. and the shares have been listed on the Stock Exchange. IL may be oonciud- cd. therefore. rflut this great oillion-dol- lar concern has become an active factor in the iron and steel situation of the world
 When tho public first learned that such an organization was contemplated the usual howl went up about another gigan- tic monopoly. There wore all sorts of predictions that the price of iron and steel products would be put up to an al- most prohibitive figure, and the calamity howlers were sure that 1t would be only a comparatively short time before the Standard Oil magnates and J. Pierpont Morgan carried all that was worth any thing in this country in their pockets.
 The United States Sreel Corporation is hardly more than month old, and yet there are indications that certain persons and they are regarded shrewd and suc- cessful business men, have come to the
 
 only does not control the iron and steel output of the world, but does not even control the output in the United States. Having come to this conclusion these per sonS according to news from Detroit and from London, have taken steps to com bine into another large company some of the iron and steel corporations which are hot component parts of the United States Steel Corporation.
 According to the dispatches, an Eng
 3hinan named A. R. Harvey, President D1 the Commercial Development Company Of Liverpool, London and New York, off, cers of the Lake Superior Powder Com pany and others closed deal at Detroit a week ago which will result in the for nation of the International Steel, Iron and Pipe Company. From what little Is known of this proposed company, it seems that Its purpose Is to establish great steel mills at Sault Ste. Marie, on both the Ca- nadian and United States side of the Soo Canal, with d capacity of 6O0,000 tons an- nually and giving employment to about 10000 men. It is proposed to start the company with capital stock of 900 and some big new blast furnaces are to be put up in Detroit MT. Hervey, in speaking of the enterprise, is quoted as saying:
 We have the advantage of the latest patents and much of the best machinery ILLS peeIl oTosTeu lIlu IS elIuel or ready for shipment in England. We will have the most complete plant in the world and from the ore which comes to us from the Lake Superior mines we will turn out castings, rails, structural and bridge iron. all ready for use.
 The power which we will get from the Soo power canal will make agreat saving in the cost of production and we will also save materially in shipping the ore, as the haul by water Is very short. For this We will build all our own docks and un- loading derricks and apparatus for the speedy and economical handling of the ore. We will have part of our mills run ming in six months and the entire plant in operation within a year and A half"
 MT Hervey may be, and probably is. shrewd fnancier, but he Is not particu- larly well known in this market. It must also be borne in mind that 1t is easier to talk about great consultations of indus tries and combinations of capital than 1t is to make those consultations and com binations accomplished facts. Very much may come of this proposed enterprise and then 1t may never be heard of again.
 It suggests. however, that tho forma- ton of the United States steel Corpora