The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-07
$15O,O0O,0OO STEEL
MERGER Is PLANNED
Cambria, Youngstown and
Lackawanna Plants May En-
ter Latest Consolidation.
REPLOGLE AGAIN TO FORE

II was learned last evening that plans
are under way for the merging Of three
large independent steel companies Into
one concern which probably will be
capitalized at 100000. 900 or even more.
Such a combination would be greater
than the new Midvale Steel and Ord
nance Corporation. The companies
mentioned in the merger are tho Lacka-
wanna Steel Company. the Cambria
Steel Company and the youngstown
sheet and Tube Company. These three
concerns now have an authorized capt
talization Of $780, 00. 900.
Il also WAS reported In dispatches
from Pittsburg and other steel centres
that the Inland Steel Company was to
be included in the merger and that
Frank A. vanderlip, president Of the
National City Bank. Is forming a syn
d,cate to finance the merger.
Mr.. vanderlip said last night that
$500. 600, 600 concern had been pro-
posed to him. hut was later given up.
However. a director Of the Lackawanna
Steel Company acknowledged that a
merger Of the Lackawanna, the Cam
tTlt III NV ~
Tube Company was being considered.
but declined to say whether a banking
syndicate already was being organized.
Tie said that the Lackawanna Steel
COMPANY would b. the dominating unit
In any merger which might he enected
and pointed out that the company was
now buster and In a more prosperous
condition than at any time since its
inception. r.. \. :. Clarke. president
Of the Lackawanna Steel Comppn.. said
that he could not make any Statement
al present.
The lackawanna steel Company il
capitalized at $4,000. 900. OF which
$50. GOO. 900 IL common and $4,000. 200
Z per rent. cumulative preferred stock.
The company WAS incorporated Febru-
airy Is, 1909. in New York. to acquire
the capi,al stock and enlarge the proper
ties Of the Lackawanna Iron n Steel
Company. 1t owns an extensive steel
rail plant at Lackawanna. n. Y, the
property comprising over 900 acres. This
plant was started in 1903. The compan!
also erected a benzol plant shortly after
the outbreak OF the war and sold all OF
It's output .oi several years to come. II
has secured profitable war orders from
the Allies and has been a heavy seller
OF steel and steel products TO France
and Russia.
The Cambria Stee, Company is CAPT.
xdllZcQ AT bU,UUu,uVU. IL Wde uNoIpo
rated November "A, 1895. In Pennsyl'
vania. The works and plants are al
Johnstown. Pa. II also owns ana
operates several plants In Michigan
w. II. Donner. president Of the concern
Ia generally looked upon az the right
hand man of Henry Clay Fr!ck and ths
Cambria Steel Company Is usually con
sidered to be a pet of Mr.. Frick. J. l.
Rcplogle recently became "a prominent
factor in the company through his pur'
chase of :, large block Of its stock ana
wac recently elected to the directorate.
The Youngstown Sheet and Tube Com
pany was Incorporated in November
1900. in Ohio. and has a bessemer stec
plant. pipe and tube mill at Youngstown
and also operates the plant Of the Nor
gan Spring Company at Struthers, Ohio
TIE company Is capitalized at 100000.
600, of which $50. 900. 900 Is comn,on an,
the remainder I per cent. preferred stock
The combination OF these three con
Germs. with their varied plants, woul'
. make an especially powerful steel or
Canizatlon and one that u~ndoubtedl.
' would be In "A position TO exercise
g., potent influence on the making OF stee
F, prices.
1t is believed in Wall street that muc'
credit is due To Mr.. Replogle for bring
Ing the three concerns together. as tn
} steps necessary for their amalgamat!o
have quickened considerably since h
became "A factor in Cambria steel. Nj
Replogle has spent most of his time !
Philadelphia during the past few week
and seldom has been at his office her
for more than IA few hours "A weel
, He is looked upon as one Of the risin
young men OF the steel industry an
those who have come into business cor
tact with him express confidence In hi
future.