New-York tribune., 1901-01-22
SITUATION FOGGY.
MR.. CARNEGIE QUOTED AS DECLARING
THAT HIS COMPANY is NOT
NEGOTIATING

No ray OF light yesterday penetrated the dense
Cog OF mystery in which the steel situation is
cnveloped. The Evening Post which last Mon
day printed interview in which Mr.. Carnegie
said that the Idea OF consolidation was lin the
air" and added. significantly. what a combina-
tion 1t would be-. yesterday quoted Mr. Carnegie as
declaring positively that. far as the Carnegie
company was concerned, no negotiation of the
sort was on foot The article continued:
Mr Carnecie's personal view of the situation
may be authoritatively stated follows:
The immediate cause OF whatever trouble exists
carnegie company is about to construct extensive
works for the manufacture of tubes. Yet the fact
thai this company was going to engage In such
work must have been well known to the chief MEM
TE OF [nF ScF Tnst year ago me ee
from the Carnegie company, but decided to erect
the Carnegie company then announced that il
would be forced to erect mills to finish its own
To know what had taken place taken by sur
Steel Somnn ,9 puPv @ nataG NAV oT me @
erect mills in Chicago for structural steel works.
but il was added no objection has ever been hea rd
of from the Carnegie company their doing so
on the contrary the most friendly relations exist
Regarding the trade war" stories, the basis
of which attempts have been made TO depress
prices and disorganlze the steel market Mr. Carnegie
denies that they have any such basis as ts alleged
and no vast combination of All the comnanies Is
seriously contemplated. Several of the allied COM
his opinion, become more closely allied and here
being be IN IN PH so 1 h 9 e
company. It would be hailed as advantageous
There Is nothing in the situation, It was added
upon which Ia predicate industrial war: on the
contrary, everything favors peace.
John w Gates and John Lambert have come on
from Chicago. and Mr.. Gates is said to have spent
a short time yesterday at local offices of the
American Steel and Wire Company a dispatch
from Chicago represents Mr.. Gates as saying that
he would not he surprised If the story that the
Steel and Wire Company was to he absorbed by
the Federal Steel Company should turn out to be
true.
Henry c. Frick is beginning to figure prominently
in the surmises and regarding the outcome
Of the reported negotiations for Mr.. Carnegie's
controlling interest in the Carnegie company Mr.
Carnegie 1t is declared, has antagonized the Penn
svlvania Railroad his reported determination to
construct his own railroad tidewater; he has
rayed against him the Moore steel companies by
the announcement of his intention to manufacture
sheet steel and he made enemies of the Fed
eral Steel Company and the American Bridge Com
plant at Conneaut The breach between Mr.. Carne-
he announced his purpose build 1900 900 tube
plant at Coneaut The breach between Mr. Carne-
gle and Mr.. Frck. which nearly resulted in long
and costly litigation has never been healed. 1t is
commonly believed. Mr.. Frck is in the prime or
life of long experience in the steel business and
of the highest executive ability, and 1t is said In
some quarters that if there is TO be war between
Mr. Carnegie and the powerful steel and trans
portation interests which he has antagonized by
his policy of expansion Mr. Frick Will come ror-
ward as the leader of the opposition. The rumors
go even further than that, declaring that II MI
Carnegie shall close out his controlling interest IN
the stock of his company, his personal rollowinS
Frick will become the directing head of the great
Carnegie company.