Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1915-10-07
BULGARIA HAS DEFINITELY
JOINED TEuT0NIC POWERS:
WTIMATuM SENT SERBIANS
R;val Promoters
Are PURCHASING
Big Steel Plants
Corey Interests Bidding Against
the Schwab- -Morean-Frick
Crowd for Independ-
ekt Manufactories.

u
New York. Oct 7.-As told in dis
patches to The Sioux, City Tribune
four weeks ago. giant rival-possibly
two--soon will appear in the field
against the U. S. Steel Corporation.
Two groups of fnanciers. bne headed
by Charles M. Schwab. head of the
Bethlehem Steel company. and backed
by J. p. Morgan & Co, the other head
ed by William Z. Corey, the man who
organized the U. S. Steel corporation.
are lin the field bidding folh independ-
ent steel plants with the sobject Of
founding greater corporations.
The Bethlehem company is negotiat-
ing gEwith the Pennsylvania and the
Cambria Steel companies. The deals,
involving millions of dollars. have not
vet been closed. it is. said, but are In
a fair Way of settlement.
Corey Back Into Game.
The Corey interests, beginning with
the MidVale Steel company as ii neu-
cleus. are bidding for other plants. 1t
has been rumored that these interests
were about to acquire the plant of the
Crucible Steel company and possibly
some others. The Cambria plant. how
ever, is controlled by interests allied
with Schwab. Morgan and Frick.
In fact, according to high author
ity familiar with the situation in the
steel trade. there never was a time
since the formation Of the United
that so many deals involving many
millions OF dollars were under way as
at present.
Two Now Giant Rivals.
In Wall Street gossip the names of
Charles NJ. Schwab. chairman of the
Bethlehem Steel corporation. and FL.
G. Frick. who is said to have !, large
interest. together with an option on
stock of the Cambria Steel company.
lam T. Corey and his associates
who have Just acquired control of the
Mldvale Steel company and increased
It's capital stock to $lo0.0O0OO0, This
gossip was engtfiened by an author
itativs statement explaining that MI.
Corey and Mr. -Scflwab We're in no
wise cooperating and that the rumors
that Bethlehem and Midwife would
combine had no basis.
How Interests Arc Allied.
The negotiations between the Per.i
sylvania and Bethlehem interests with
the subject of the price 1t was under
stood at which the Pennsylvania rail-
road, which owns a 54 per cent inter-
est in the Pennsylvania Steel company.
would relinquish it's holdings. The con-
ferees who met at Mr.. Schwab's Of
flee included II. Il. Stephenson, head of
the Morgan banking house in Phila-
delphia and Il director in the Pennsyl-
vania Steel company: Henry Tatnell,
vice president of the Pennsylvania
railroad: William II. Donner, chair
man of the Pennsylvania Steel com
pany. and several directors of the
Bethlehem company. None would dis
cuss the deliberations except to, say
that nothing had been decided
Mr. Bonner is president also of the
Cambria Steel company. which 10 like
wise controlled by the Pennsylvania
railway system. He is understood to
hold for H..C. Frick an option on the
Pennsylvania holdings of the Cambria
Steel company. Although ii was learned
that this option had not yet been eX-
ercised. it was generally believed Mr.
Frick was concerned In the negotia-
tions for the control of the company
which are known to be pending