The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-07-26
other COmpnnies May Join.

Other Companies May Join.
Beyond these companies actually
named as scheduled for entry into the
new steel trust. conjecture runs riot.
1t il reported that the Republic Iron
and Steel Company may he included and
that the Youngstown Sheet and Tube
Company, a corporation closely ami
lated with the Pic'ands, Mather 4 Co.
interests, may also join.
Should 1t 20 as far as this. II can be
taken for granted that II will also
take In upward Of 500. oOo, 900 worth
Of lake steamship and Lake Superior
iron ore enterprises controlled by the
leading interests Of this city. And It
may even reach down the line and take
IN such smaller concerns AS the Inland
Steel Company Of Chicago, the Brier
Hin Steel Company of Youngstown. tho
l.abelle Iron Works of Wheeling and
others in the same class operating
throughout the Mahoning and %Shenango
valleys.
The steel trade is asutter as Il never
has been since the days when the steel
harons OF the years l90O-l30l We're pick
ing up steel properties the country over
and paying FOR them in fabulous sums
since the year when pittshurg had to re-
wise its blue book and add two or three
pages for the new cuierie Of multi
m~illionaires who arrived over night
when the great Morgan steel coup was
sprung upon an ~astpunded world and the
first billion dollar corporation came into
being.
The last great obstacle 10 a merger OF
Independent steel companies was swept
aside when the Federal court in New
Jersey a few weeks ago gave the steel
trust absolutiou Of the charge OF COM
hiuation IN restraint OF trade.
The great proposed merger will be
directly competitive with the steel
trust, because II will represent a ca
pacitv ~ close upon i0,o0O,o00 tons
OF ordinary steel products as compares
with some 1900. 600 for the trust and
will also be a paramount factor in
several great Venue not seriously ex-
plotted by It's big rival in highly Spe-
cializrd stecls.
1t will be the largest single factor in
the coming era of merchant ship build
ing. The country viii look to II for
whatever supplies are needed in de-
vclOping our naval fleet and home lie.
fens!ve programmes and It will occupy
a most important role in feeding
the great and growing demand for high
grade steels that viii go with the future
unfolding of the automobile industry.
In the stock market the shares Of all
these independents have been doing some
remarkable stunts OF late. In fact. their
behavior has been such that the usual
eXcuse-war orders-dOes not half cover
the movement.
officials OF several of these. no'ahly
Crucihlc Steel, have issued statement on
statement warning the public that they
would get hurt II they purchased these
shares at high prices. But the suspicion
Is now growing that 1t is not half 81
much the public disposition TO gamble
I'm war stocks as II Is the suhterranear
efforts OF bankers and inside interests t.
gather in these securities for some such
killing" as occurred In 1901. when the
steel trust was formed.
Horace 5. Wilkinson OF syria use and
Cleveland. member OF the executive
committee Of the Crufhla Steel Com
pany, has issued numerous warnings
against the speculation IN Crucihle cons
mon, hut the Wall street plungers con-
tinue To gather It In,
PENNSYLVANIA Railroad ofNclals have
denied rumors that Henry G.. Frick has
been given an option on Cambria and
Pennsylvania Steel, hut admit that
Tricks friend. Mr.. bonner, is the owner
of an option on control.
some of the Possibilities.
The writer has no knowledge as tc
how many of the independents havs
signlfed their willingness to enter th'
new steel merger, but below II given q
list OF the possibilities, Including those
WIN can come I'm " they will ,ogethe,