Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1915-07-19
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RUMORED MERGER
IS GIVEN CREDENCE
Believe Union Of Penna. Steel and
Cambria Plant Will Be Ef-
fected by MIR. Frick

Reports from Philadelphia to the
effect that recent stories Of the merger
of the Pennsylvania Steel Company
with the Cambria Steel Company are
about to materialize, were widely dis
cussed in Steelton to-day.
Stories concerning the purposed
merger have been making their ap-
pearance from time to time and ap-
parently come from well-informed
sources. They have been denied, how
ever, by Pennsylvania Steel company
officials.
This time the report comes from
Philadelphia where the two steel COM
panies have offices in the same build
ing. In a statement issued Saturday
by Chandler Bros. & Co., brokerage
firm, 1t is declared that Henry C.
Frick, principal stockholder of the
Cambria company, has acquired an
option of the Pennsylvania railroads s
controlling holdings in the Pennsyl-
vania company Speaking of the fu-
ture of both companies the banking
firm said:
Holds Controlling Interest
THE principal owners of the Cam
bria Steel Company have plans to
make that company one of the larg-
est steel producers in the United
States H. C. Frick is larger owner
option on the holdings fthe Pennsyl-
vania Railroad, by which the controll-
ing interest in the company is held.
1t is the purpose of Mr.. Frick and his
associates to combine the Cambria
with the Pennsylvania Steel Company
of which, also, controlling interest
is at present held by the Pennsylvania
Railroad. The combination would give
the Cambria an interest in shipbuild-
ing, as with the Pennsylvania Steel
Company would be ACQUIRED control of
the Maryland Steel Company, which
has a shipbuilding plant at it's works
at Sparrows Point; and 1t is under
stood that it is the intention, when
the merger is formed, to develop the
shipbuilding end of the business on
a much larger scale than it is conduct
ed now.
There is every prospect of a very
active demand for the building of new
ships, for a long time to come, and
there is the opportunity to make the
plant at Sparrows Point very impor-
tant. The Maryland Steel Company,
which owns that plant, is controlled by
the Pennsylvania Steel Company, and
plans for the merger of Cambria Steel
and Pennsylvania Steel are already
well under way. On account of these
pending developments, as we'll as on
account of the increasing activity in
the steel trade. the stock of the Cam
bria Steel Company is deserving of
careful attention from both the spec
ulator and the inventor"
Given Credence Here
+, Great credence is given the report
in Steelton where it is known that
the relations between the two compan-
les have been growing more intimate
in recent months. w. II. Donner,
president of the Cambria company, is
chairman of the board of directors,
the directing office, in Pennsylvania
Steel.
In addition to this there have been
a number of Cambria men placed in
positions at the Steelton plant. A
large amount of products from the
local plant is shipped to Johnstown
and considerable material from the
Cambria company comes here.
The merger of the two companies.
it is declared by steel men, would give
the new company powerful influence
in the shipbuilding trade through its
Sparrows Point plant, a subsidiary of
the Pennsylvania company.