Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1902-06-12

n New York dispatch to the Phila-
|phia Inquirer, dated Saturday, says:
Fangements were completed late this
kernoon for the underwriting Of the
nds that will be issued by corpora
In formed for the purpose of con
idating at least five of the big ship
ilding yards of the country.
|1This Ii the same amalgamation that
( attempted last year and which then
lied because of the dissatisfaction
tpressed by the investing public with
IA form of the securities offered. The
&oioct was never abandoned, and since
Say, 1901, the plans have been slowly
Maturing.
4 No one could be found today who
$ould give full list of the yards now
Interested in the deal. Among others
known to be concerned are the Bath
Ion Works and the Bath Windlass 20.
i Bath, Me. the Crescent shipyards
i Elizabethport, N. J. the Newport
Jews Shipbuilding and Dry Dock
company, of Newport News, Va. !;
he Union Iron Works of San Fran
SEQ; the Harlan & Hollingsworth of
4 Eilmington, Del.
AT the head of the great concern as
&anager will be Lewis Nixon of the
Crescent shipyards, who is also closely
Elied with the Cramps of Philadelphia.
Beyond the fact that the underwriting
II the securities of the proposed cor
koration had been agreed npon, nothing
Iould be learned from those Interested.
From source that must be regarded
Is authoritative it was learned that
bonds will be issued to the amount OF
|25, OOO, 600. In what form the other
|ecurities will be issued no ono would
|ay.
A New York paper says: During
The last week there have been several
meetings in New York of those most
and q full agreement is
Understood to have been reached. The
underwriting, it is believed, has beer
hrranged through the office of Alexander
II Green of No. l20 Broadway. Beside:
Mr.. Nixon it is understood that j. J.
bicCook, H. +. Huntington, Irving M,
kcott, builder of the Oregon, and Henr,
Poor have been concerned in bringing
kbout an agreement of the big ship
building interests of the country.
4 AN of the yards brought into th'
hlan will DO operated under singh
Work will be distributes
n manner that will make it POSSIBLE
to construct all classes of ships at tn
least cost. Shipbuilders of foreigl
countries wifi be met in competition, i
being the opinion of the American
that the natural advantages that shoul
result from the constant development
of the steel industries Of the Unite
States will make it possible for ship
to be built here cheaper and bette
than else where. and that this can b
done without reduction of wages.
"In the natural course of event
ships will be operated as well as built
and further developments of the con-
1,ination are contemplated. One VIII
has made a careful study of the situa
Non made the statement at one of th
meetings recently held in New 1or
fhat within the next five years th
shipbuilders of the United States wi
take from the shipbuilders OF EuroT
I'd much work that the remainder wi
|be shifted to this side of the Atlantic
|hnd that foreign owners will make it
Eule to buy ships in this country.
'By extending the equipments fI
Ship construction the yards that wi
come under thesingle management wi
BE prepared to build any class of era
from a freight carrying merchant vess
+ o the largest ship OF war. A secoI
Combination may make it possible +
Ihe big battleships to be complete
ven to the armor plating.
Secretary W. De W. Dimick of t
HARLAN Il Hollingsworth Co. says t
pmpany is not in the alleged Gel