The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-14
NEW STEEL MERGER
TO Be SECOND GIANT
Will Rank Next to u. s. Cor
poration - capitalization
$3.50, OOO,O 900 or More.
PLAN Is FAR ADVANCED

Thu great steel combination under
yesterday. Will rank second only to the
United States Steel Corporation. II com
pleted according TO present plans.
II is probable that the new corpora
ton will have a capitalization ~ be-
tween 325o.000,0 900 and $500, oe0, 900.
Mr.. Reploglc recently took a long step
toward carrying out his undertaking.
when he became a prominent factor In
the affairs Of the Cambria Steel Com
pany through the purchase Of 4 large
block OF its stock. The concerns that
will be merged will probably be the
Cambria steel Company, the Lacka.
wanna Steel Company. the Youngstown
Sheet and Tube Company n perhaps
some other smaller concerns.
II MAS learned yesterday from inter
Gets very close to Mr.. Replogle that the
negotiations were so far advanced that
Il would be useless to deny that n new
steal combination was under considera-
ton. II was said that tho Cambria.
Lackawanna and Youngstown compa-
MES would be in the merger. but II VAS
denied that the Maryland Steel Com
pany. which Is owned by the Pennsyl-
,ania Steel Company. would be included.
This was accepted as n denial. too. OF
the rumors that the Pennsylvania Steel
Company would be included in the new
concern. 1t Is not unlikely. however.
that some shipbuilding concern ma be
included In the merger. 1t is rumored
that tho Newport News Shipbuilding
COMPANY, the New York ~Shipbuild!ng
Company OF the William Cramp 4 Sons
ship and Engine Building and Dry Dock
Company might be included in the
merger.
James A. Campbell. president of the
YOUNGSTOWN Sheet n Tube Company.
was quoted yesterday as saying that
| his company's stockholders would vote
on Tuesday upon the selling OF their
| holdings for $500 a share TO "A new cor
| poation to be formed AS a consolida-
| ton OF the Cambria, Lackawanna and
Youngstown companies. Mr.. Campbell
denied that the- was an intention OF IN
Guiding the M.dvale Steel and Ordnance
| Corporation. the Pennsylvania Compan,
or the Maryland Steel Company, al
though there had been some talk OF
inviting the Republic Iron and steel
Company to Join the merger.
John A.. Topping, president OF the
Republic Iron and Steel Company. later
IN the day authorized the following
EAAttN IAtANN AAhA
the Republic Iron and steel Company and
other steel int ests are without ans
| foundation whatever. Under existing
| conditions the possibilities in this d!rec-
ton are not only remote. but. In my
opinion. the period is ~inopportune, con-
sidering the interests OF the Republic
Steel and ron Company"
Mr.. Replogle, when seen at the Of
| Aces OF the American Vanadium Com
| pany yesterday. said that he was not In
IA position to make any announcement
as yet. but intlmated that there nigh.
Le something to say later In the week
He refused to answer questions as 70
whether a banking syndicate had been
formed TO finance the merger and as t.
what the companies under consideration
are.
Should the proposed 10000 900 or
$500. 00O, 900 concern DO formed It would
be "a formidable rival OF the Steel Cor
poration and would be considerably
larger than the new Midvale Steel and
Ordnance Company. Such a concern
would be able to exercise considerable
influence on steel prices and would be
q tremendous factor In the market.
The ~IAckawanna. the Youngstown
Sheet and Tube and the Cambria Az they
now stand have a total capitalization OF
$3.50. 600. 00o.