The Washington times., 1915-11-25
NO MERGER FOR NE,
SCHWAB DECLARES
Bethlehem Steel Charges OFF
s1,500,000 As Result Of
Fire-Business Splendid.

PITTSBURGH. Nov. 3.-Not one
share Of Bethlehem Steel Company
stock has been sold by Charles NJ.
I Schwab
80 far az I am concerned. no merger
Is contemplated with any other concern
and none Is even in prospect" said the
president of the big steel company today
at the Fort Pitt Hotel There have
been all sorts of rumors to the contrary.
but there is no truth In them There is
no truth either of a conselida ton Of
Cambria steel with Bethlehem Steel. In
fact. We are too busy filling orders
70 take up the matter OF consolidation
with anybody"
What caused Bethlehem Steel to go
to 5000 a share?" he was asked.
Il am neither buying nor selling stock,
and I do not know what caused the
stock to rise to such a figure. I have
the original shares bought and do
not know why the stock rose any more
than you do"
Predicts Long Prosperity.
How long is our present prosper
ity going to last?"
my opinion II that we are in for
q long reign OF It. You know that in
1900 ] predicted that by 1920 our an
nual steel production would increas.
from 100000 tons. the figure at
which II stood at that time, TO 4O, 900, =
0O0 tons. and II liz now about 37OO-
900. 80 ] do not believe that was
wrong In my forecast. Steel is the
barometer OF all business and with
II at record d-breaking heights ana
the copper and oil business in splen-
dld condition. ! feel very optimistic
as to the future. But war orders and
tonnage going into these contracts are
not cutting az large figure as the
world attributes"
DO you think that the United States
VIII Decone the dominant power as a
m.a,nufacturing and financial nation?"
we are already dominant In tfrat re-
spect. our exports are unusually large
and splendid opportunity awaits US to
increase this business"
Indorses New Corporation.
What do you think OF the formation
OF the international corporation with c.
A Stone as PRESIDENT"
Most excellent. There has been vroa,
need OF such an organization as that in
order to build up our foreign trade and
where splendid opportunity awaits us
me greatest ihIng we need in this coun-
try today II the placing OF our manu-
featuring concerns and the distributing
process on an economical basis"
Is 1t true tnat the Bethlehem Steel
company has charged on $50 OO as a
result OF the fire the other day.
That Is absolutely correct. Our bus-
mess IL splendid and th"\outlook excel
lent Tor long time to come"
Mr.. Schwab. before an audience OF ap-
proximately 100 business men here to-
DAY pleaded for the construction of
American ships to carry American COM
merce:
II learn today that every sidetrack
along the Pennsylvania railroad be-
tween here and New York Is crowded
with loaded freight cars. awaiting
transportation facilities across the water
70 Foreign markets." said Mr.. Schwab
This mighty tonnage is being held up.
TO the detrimcnt or the country. because
there are no ships to carry 1t. am
ashamed to say that I have been COM
PEELED to 20 to foreign countries TO get
ships to bring iron ore to our furnaces. "
Mr. Schwab also argued AT Length for
IN" free transportation OF American
commerce through the Panama Canal.