The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1901-03-25
STEEL TRUSTS PLANS,
The Giant Combine Will Probably Go
Into Effect April /.
NEW SYSTEM OF OPERATION,
No Announcement as to Form uIatiOu
OF General Wage Scale-J. PIER
pont Morgan VIII Sail For Eu-
rope After Consolidation.

Pttsburg, March 24.--The United
States Steel corporation, the greatest
combination Of business interests in
the world. will from present indications
be doing business April /, and In the
Pittsburg district, the leading iron and
steel center of the country, over $4,000
employees in the mills and blast fur
naces will have new employers. 1t is
not the intention of the new corpora
ton at present to make any changes in
the management of the constituent
companies, but it is likely that new
systems of operation will be intro
duced.
Among the concerns embraced In the
big steel combine the Carnegie compa-
ny heads the list with the largest num-
Der of employees and is closely follow
ed by the National Tube company and
the American Steel and Wire company.
All are open mills, only those of the
American Tin Plate company and sew
eral of the American Sheet Steel COM
pany being under the jurisdiction Of
the Amalgamated Association of Iron,
Steel and Tin Workers. The wages
paid are regulated by an annual scale
agreed upon by that organizn ton and
the companies. The wages at the other
plants are arranged by agreements be-
tween the workmen and the companies.
1t seems likely that this system will be
continued by the United States Steel
corporation. No announcement has been
made of the formulation of general
wage scale for the various departments
Of the big combination.
Morgan Will Perfect Details,
j. Pierpont Morgan, who will be in
strumental in putting the corporation
into business. has returned to New
York from Washington for the purpose
OF perfecting the final details of the
gigantic scheme of consolidation. Mr..
Morgan had planned to sail for Europe
during the latter part of the week. but
he has postponed his departure until
the middle of April, when he expects
the steel trust will be sailing smooth
ly on its own account.
President Srlwab and cx-Judgc Gary
will, it is said, have the best offices,
and if chosen chairman Mr. Gary will
have great deal to say and receive
large salary for saying it,
Al the reorganization meeting to be T
held Wednesday il is expected that
the present Carnegie company will 20
out of existence. 1t was formed q
year ago to take in the stock of the
Carnegie Steel. II. e. Prick Coke and
other companies after the famous fight |
between Andrew Carnegie and Mr..
Prick, which resulted in a big COM !
binc, with $160. 100000 capital stock
aud SlGh, 1000. 600 in bonds.
Most Of the officials of the Carnegie |
Steel company expect to retain their
offices under the new management. |
but President Schwab will be over all. |
1t is said that he was rendered the |
of the United States Steel
corporation with IA guarantee to hold il
for five years.
The postponed annual meeting Of the
National Steel company will be held in
New York Tuesday, 1t is understood
that representatives Of the new cor
poMtion will enter the board ana that
similar changes will he made in the
boards of directors Of the other sub
SIdiary companies at special meetings
to be called soon.