The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-04-07


BUILDING Company, says the rurnor
Of the sale Of the yard to Soh~as
10 not correct.
Reports that Charles NJ. Schwao.
the Pittsburg steel magnate, has pur-
chased or In negotiating for the New
port News Shipbuiidirg and Dry DOCK
g Com pany, for the purpose OF manu-
fact,irinr locomotives and other rail-
way equipment aside from carrying
IN the shipbuilding business. ara lent
additional credence by the fact that
Ychwab is known to have been casting
his eyes about for some time In quest
II q more suitable location than MS
Bethlehem plant In western Pennsyl-
sania to utilize vast quantity OF IRON
orc property which ne acquired In
northwest Texas last fall.
Although II was the intention OF
Hchwab to convert some Of this ore
into steel in a smelling plant AT BOIL
var, new seaport across the Day
rom Galveston, and TO ship the re-
Yuainder by water 10 his Pennsylvania
plant latest reports from Texas moi
cate that these plans have not been
perfected altogether to the satisfaction
Of the steel king.
Trouble With Charter.
In thA f1rst Mace. considerable diff
eulty has been encountered In procur~
tng the proper kind OF charter from
= the State OF Texas Several months
axo a charter was obtained. but IL was
found later to be In violation of the
State laws In view of the fact that IL
included the right to rire as well as
20 manufacture the Texas ore product.
4 then became necessary for the attor-
nevs 20 get around this technical OBJ
etaela, the laws requiring that sep
arxtp charter be obtained for manu-
Assuring and mining.
This hitch plainly annoyed schwae.
who surmtaed that II was an EFFORT
on the part of the ''trust-busting Tex
ans TO block his plans.
Meets Another Obstacle.
In order to get the ore TO Pennsyi-
vAnia. Schwab contemplated putting
on 4 line OF ships between Philadelphia
and Bolivar, but II WAS here that he
met another obstacle. This was nofh-
ing mere than the extra freight rates
Dc would have TO pay from Phiiadel-
phfa to his Bethlehem plant
II was while the steel magnate was
revolving these facts In his mind that
reports gained currency that he either
lad bought or would buy the Newport
News plant, by which he could urfffze
his Texas as we'll as Cuban ores at IA
minimum cost. Newport News being
IDEALLY located on the Atlantic sea
board for his purposes.
Il has never been Schwab's fnten-
don. II may be stated, to make use OK
much Of his Texas ore at the plant
which he proposed to erect at Bolivar.
Two reasons were assigned for this.
One was that Schwab was reluctant
10 invest a large amount of capital in
the Lone Star State, and the other was
4 the expanae Of getting coke and gtuli-
lar material for the operation of his
Bolivar steel plant. Tentatively. he
had planned to procure this material
from Birmingham. shipping It from
that point to the Texas port in barges.
Virginia Port Ideal One.
In view of these facts, II Is evident
that Schwab could find no better point
than Newport News to suit his plans
Z A. that port he can undoubtedly assem-
hle all the materials necessary for the
manufacture OF steel at less cost than
any other point In the country. the
Chesapeake and Ohio railway. which
piercea the great mineral deposits In
West Virginia. having Its terminus
there
This road has long been anxious to
have Q steel plant established at New
port News, and officials of the system
did not conceal they pleasure on learn
Ing through The virginian Wednesday
that 6ohwab has probably purchased
the Newport News plant or may do so
Confirmation Expccecd Soon.
Full confirmation OF tho reported
purchase II expected at an early date
despite the fact that officials OF TIL,
shipbuilding company persistent,
maintain that tho rumors arc abso'
iutsfy without foundation.
Pres dispatches OF late have car
r1od the news that 6chwab has beer
havtug considerable trouble with hi
men q Bethlehem, and has ever
threaksned to close his plant dows
oomplstsiy Y thsy persisted in max
lAg greater demands on him,
This would seem 10 be another FAC
Tor calculated to make Hohwab iool
toward sonic other point for location
70 bettsr Garry on hfs steel manufao
turfng business.
u biz industry, ouch M Echwai
would conduct, giving steady wori
throughout the yeer. will doubtless
10 Welcomed with open arms by thu
poopia OF Newport News, who hav,
heretofore spent much Idle time a.
result OF tho fiuotuating character o
tbs bodybuilding business,
Tomas Tkip Dramatic,
a0Awahss visit to Texas last fai
w. n0thine short Of dramatic, al
th0u9A travelling In private car h
dld everything possible to prevent hi
peeoenoe IN the State being known. n
n had hardly crossed the State borde1
hOw9voF, before rumora began to cir
oulata that tho great steal king IN.
pso4age az Andy" Carnegie was Ii
u 6tAte on eons secret mission
Gchwub s1aid low when tia rumor
slasted. md for nearly : weak hi
eaboUis weFe kept ssosst. Elm
\ nv ~ ~ l0cated hx neSspape
g, ~ WAo boAsdsa his private on
I'll 01kA 0uohln9 past the guards 1t IN
&&1N 6AnRdad the king IN hts den
s8 lil ss = Weee nrhwab Peauctanijy "A
s ~ ldsnklfy, but asirsd tsat !
l1oe1 - 1osSth gasa.1