The Providence news. (Providence [R.I.]) 1891-1906, 1902-04-14
RIVAL TO
THE STEEL
TRUST.
Powerful Company viii Bs
Organized This Week with
Capital Of S2OO,OOO,GOO

New York, April li-Arrangements have
been completed for the formation of
gigantic rival OF the United States Steel
company. The new company will be in
corporated in Trenton. ~ j., this week,
and will have capital of 5000. 100000.
IL has taken about a years work 10
effect the consolidation OF the various
companies. and one of those principally in
terestsd in the work, Frank conger. OF
the American Bridge company, died be-
fore seeing the task completed. Among
the other prime movers have been Joshua
Rhodes q Co. of Pittsburg:
n. Oil, OF Newcastle, Pa. Edward j.
of this city, promoter OF the American
Bridge company and representative of
vast iron interests at Youngstown, q.
The plan was to amalgamate the lead
ing independent blast furnaces and mills
of the country. and it is asserted that the
new combination includes the producers
OF more than one-half OF the pig iron
Of the Bessemer association.
The promoters OF the combination are
T.. III. Jennings, of the Pittsburg Bessi-
mer Coke company; H. c. Frlck. OF the
Youngstown Iron Sheet and Tube COM
pany, and +. Y. Humphrey. OF Pittsburg
The death of Mr.. Conger is said 20 have
prevented the company from including
bridge companies with net earnings OF
about 81 5000 a year.
The concerns that have agreed to con-
solidate are alleged To have earned fully
$l2.5o0.0O0 net during the last year. They
are:
Blast furnaces-Girard Iron company,
Matte furnace. estate of A. Byers; An
drews * Hitchcock. Hubbard furnace.
Hubbard. Ohio Ohio Iron and Steel COM
pany. Mary furnace. Lowellville Ohio;
Brier Hin Iron company, Brier Hill fur
mace, Youngstown Ohio: Cherry Valley
Iron company, Cherry Valley furnace.
Leetona, Ohio Cherry Valley furnace.
MiddleseX, Ohio: Youngstown Steel com
pany, Tod furnace. Youngstown. Ohio. all
I'm the Mshoning Valley, and the Punk
sutawney Iron company, PunXy furnace
Punxsutawney; Dunbar Furnace COM
pany. Dunbar furnace. Dunbar. Pa.
Stewart Iron company, limited; Stewart
furnace. Sharon. Pa, and Belfont Fur
mace company. Belfont Ohio.
Mills-kelly Nail e. Wire company, Iron
ton. Ohio Norton Iron Works company,
Irontou. Ohio; Belfont Iron company,
Ironton, Ohio; Marting Coal a. Iron com
pany. Ironton. Ohio; Ashlang Steel com
pany, Ashland, Ky; Cuyahoga Wire com
pany La Belle Iron Works. Steuben-
Vile, Ohio; Phenix Iron Works, Phoenix
Vile, Pa: Troy Steel company. Troy, n.
v: Ritter a. Conley Pittsburg; Carbon
Steel Tube company, Pittsburg: Youngs-
town Iron. Sheet & Tube company.
Youngstown, Ohio; Howe a. Polk Tub
ing) Danville. Pa: Central Iron Works.
Harrisburg Pa: Waukesha Sheet Steel
Works. Boston. Mass; King Bridge COM
pany. Cleveland Ohio: Phoenix Bridge
company. Philadelphia National Bridge
company Canton, Ohio, and Groton; Bes-
semer Coke company Pittsburg. Pa;
Brotherten & Sunday Lake Mines Mlchi-
gan: Biwabi ore company (part nteresD,
Mesaba Mahoning ore company tpart
interesD. Mesaba and Union Limestone
company part interesD. Ohio.
No name has yet been selected for the
company, but baptism Will he made to-
morrow or next day. Several titles have
been suggested. and IL only remains for a
final choice to be made.
At the office of the counsel for the COM
pany, Blymyer Hobbs & Clarke. 32 Broad
way, f. H. Clarke said the original plan
10 amalgamate 40 mills and furnaces had
been materially changed primarily be-
cause while all the properties intended to
be taken over are making very large
profits at current prices their location
is OF a dislntegrated character. SO that
the policy OF concentration could not be
successfully carried out
lit is only view 10 the permanent
future advantages that would be obtained
that the best independent mills could
with Justice to themselves consider such
a union"