The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-09
DETAILS D. A BIG DEAL
Continued From FIRST pag.

Continued From First Page.
j. PierDCnt Morgan is planning the ac-
QUESTION Of the properties of some Of the
largest iron and steel companies of tn. s
country.
Ii, as now seems certain, Mr. Carnegie
Is to receive $l,500 for each $1,000 share
or his stock, the transfers in his case
alone will be the equivalent of nearly
$lSo,0UOCG0.- inasMuch as the great s eaI
nagnateS holdings at present amount IN
SS60V0'tt5 Is. as seems possible. the mi
norlty. holders are TO be locked after ,hv
wi, NloIgttn $ syndicate. TIE, fDaneiering
Will ihFoiFe the equivalent OF $249, Oo0G00. .
ms Is certainly beyond even Mr. Nor
gan ability to provide in cash on shorf
notlce Tor single transa elton withol-t
serloi-"iy affecting the money market
ana no surprise was therefore felt when
Judge Gary made the sta tement totlav
mat The actual transfers of cash would
pe Small MI Carnegie is not likely 10
give up such gitt-edged security as the
shares Of his own company for anvtIinor
less attractive, and no surprise was ex
pressed IN financial circles today when If
became Known that the financial nan
contemplated either the reorganization
on greatly enlarged capital basis OF
oie oI the existing steel COMPANIES Or
poration to hold the controlling stock Of
'iie various component companies.
INTEREST AT PITTsBTrRc
FIIISBQRG, Feb. 8.-Financial AMI
eteei men or Pittsburg are anxiousIy
60 g" ot'ihg turner information from New
1orK relative to the Carnegie deal hut
not word came here today that gave
any ihteiiigence as to what progress is
pelng made by the Morgan syndicate
towards closing the big deal that is nov
on. 1t was learned from private adyices
CEat there Will be very little cash re-
CURED to conSummate the deal Tf the
pans go through Mr.. Carnegie will win
draw entirely from the affairs of -t.,
carnegie company, taking for the trans
Ter OF MS stock a sum exceeding SS5 nm
QUO In guaranteed per cent bonds VIII i,
are to be a first lien on the Carnegie
and other properties
WHAT CARNEGIE GETS.
Gossip centers now mostly on the prize
mat Will be paid for the S. 600 shares ,1f
STOCK. Two years ago H. c. Flick
ana others, including former Judge w.
ii. Moore, obtained an option on Car
hegles holdings, paid a million in hard
money, 1alled to complete the deal and
lost the million. At that time Carnroia
stated that the next time he set price
II would be high This statement is he
ing referred to as evidence that the nrice
Is considerably above the par value of
SI'VO snare. 1t is understood in the
Carnegie building that Mr. Carnegie has
taken steps to protect the interests of his
: younger partners. One of the few Of.
ficials of the company who could be seen
today said, in relation to the report from
New York that the minority stockholders
had taken steps to block the deal. THE
report is not true From Mr. Carnegies
statements In the meetings I am certain
that he Will do, nothing important with
T-g-E lii f,r11
the men whom he always affectioaately
referred to as his younger Partners 1
do not think that the reports which con-
meet the name of H. c, Fricl1 with pros
;tests are correct. The latter has beea
at his office here for the last two weeks,
busy with his real estate matters
A call at the; office of Mr. Frick elected
no informal ton. He sent word out by
- Secretary Colwell that he had nothing to
say. -..-s.4....,