The sun., 1901-03-25
STEEL TRUSTS PLANS.
The Giant Combine Will Probably Go
Into Effect April |.
NEW SYSTEM OF OPERATION,
No Announcement as to Formulation
of General Wage Scale-J. Pier
pont Morgan Will Sail For Eu-
rope After Consolidation.

pittSDurE, Marcn ga nc OnitSu
States Steel corporation, the greatest
combination of business interests i'll
the world, will from present indications
be doing business April l. and In the
Pittsburg district, the leading iron ana
steel center of the country, over oo,ooo
employees In the mills and blast FUR
naces will have new employers. 1t is
not the intention of the new corpora
tion 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-
ber of employees and Is closely follow
ed by the National Tube company ana
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
many being under the jurisdiction or
the Amalgamated Association OF Iron,
Steel and Tin Workers. The wages
paid are regulated by an annual scale
agreed upon by that organization 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.
! i. Pierpont Morgan, who will be In
strumen,al in putting the corporation
into business. has returned to New
| York from Washington for the purpose
I, of perfecting the final details of tht
+ gigantic scheme of consolidation. Mf
: Morgan had planned to sail for Europ,
T during the latter part of the week, bu
: lie has postponed his departure unit
l. the middle of April. when he expects
d the steel trust will be sailing smooth
l. ly on its own account.
s. President Schwab and ex-Judge Gar.
will, ii is said. have the best offices
IS and If chosen chairman Mr.. Gary vii
l. have great deal to say and recelr
l. large salary for saying it.
]. At the reorganization meeting to D.
held Wednesday it is expected tina
the present Carnegie company will e
out of existence. IT was formed
: year ago to take in the stock of TIL
Carnegie Steel, II. c. Frick Coke an
lc other companies after the famous figh
st between Andrew Carnegie and MI
T. F'rick, which resulted in big con
h. bine, with $160,0o0,000 capital stoc
IS and S160 100000 in bonds.
,,- Most Of the officials Of the Carnegi
SIS Steel company expect to retain thei
er offices under the new management
i'll but President Schwab will be over al
1t is said that he was rendered til
ed presidency of the United States Ste'
q. corporation with a guarantee to hold
he for FIVE years.
er The postponed annual meeting of Il
re National Steel company will be held
" New York Tuesday. 1t is understot
that representatives of the new CO
poratiop will enter the board and tn
r. similar changes will be made in I
ev- boards of directors of the other su
has sidiary companies at special meetin
at to be called soon.