New-York tribune., 1903-03-27
TO KEEP CARNEGIE NAME.
Substituted for National Because OF
Its Value.
my TELEGRAPH TO THE TRIBUNE. |

Trenton n j.. March 26.-The Carnegie Com
panT the National Steel Company and the Amerl-
can Steel Hoop Company, all owned by the Unted
States Steel Corporation were merged to-day unoer
the corporate title of the National Steel Company
At late hour this evening word was received mere
that an amended certificate would be hled to-rhol-
row morning, changing the style OF the ne" cor
poration from the National Steel Company to the
Carnegie Steel Company, the object of the altera-
ton being it is understood not to lose the value
of Mr.. Carnegie's name. The consolidated COM
pany has an authorized capital stock of $N},VoVU
being one-fOurth of the combined outstanding stock
of the constituent companies which are as follows:
Carnegie Company $160O00OOO: National Steel Com
pany $59 OOOOOO and American Steel Hoop COM
pany s33 100000.
Stock in the consolidated corporation Is to be
issued in the of $25 par value for every SlOo
par value of stock, whether preferred or common
in the constituent companies. The National steel
Company is to operate under the powers and prtVl-
leges conferred by the charter Of the carnegie
Company, the bylaws of which have also been
adOptcd The directors are W. Z. Corey, c. NJ.
Schwab F. II. Gary. w. W. Blackburn and Thomas
Murray. The officers give their addresses as Pitts
burg. and follows: President w. Z. Corey;
secretary and treasurer. ". w. Blackburn; assist
ant treasurer. W. c. McCausland, and assistant
secretary and auditor, J. J. Campbell All are off,
GERS of the old Carnegie Steel Company.
The resolution consolidate was adopted by
unanimous votes of all the stockholders at meet
fngs OF the three corporations held on January lO
The certificate OF merger recorded in Essex
County and filed with the Secretary Of State to-
day. 1t contains preamble setting forth that
the merger deemed advantageous because all
the corporations engaged in similar business
The certificate signed by directors of the three
constituent corporations
Like the old Carnegie company. the new corpora
ton is to have only class of stock BY the re-
duction in of issued capital stock the State
will lose taxes $1S9,GN,0N of stock, amounting
to $3.50 year.
Pittsburg March o6.-The only explanation of
fered in Pittsburg for the filing of articles of
merger at Trenton to-day by subsidiary companies
of the United States Steel Corporation is that the
latter is about carry out its plan Of merging all
the subdivisions Of the general corporation ana
M aaynf wa 5 5ee tbs PaFfos etock6oIdng, Concern
This plan will 90 away With the 1ndlTIdual Or
the American Sheet Steel Company. the American
Tin Plate Company; the National Tube ComPany a
the Federal Steel Company. the American Brldg3
Company. and all underlying concerns now opera ed
C0rDoration paws a tax In New-Jersey on its gen
eraI capital. while each Of the underlying COM
it is represented in the general capital Of the cor
poration In other words the corporation is pay
President schwab, Of the United States Steel C2T-
Visit is business one and that he will be here
several days. His arrival revived rumors Of pro
the corporation, but he refused to talk.
Elbert r. Gary chairman of the board Of direc-
TORS of the United States Steel Corporation. and a
director Of the newly incorporated National Steel
Company says that the question Of merging all
or some Of the other constituent companies has not
vet been considered. The just-efected merger OF
the three companies he adds, was decided on sew
eral months ago, and was made solely 10 promote
economical administration.
Special dispatches from Pttsburg received Eester-
dav in Wall Street reported President SchWao as
in conference with representatives Of the Jones &
Iaughlir Company. and gave 1t as the preValnhe
belief IN Pittsburg that the negotiations ior tne pt
chase Of the Jones & Laughln properties by the
steel Corporation at price between $50 ana
SO0 0OO 600 would speedily be concluded, payment
to be made onehalf in cash and one-half IN ponnS