STEEL TRUST IN CANADA.

Manawatu Standard, Volume XLI, Issue 8196, 24 May 1906, Page 4

STEEL TRUST IN CANADA.

A iiKCKJfT cable message *tAted that the American Steel Trust lu* decided U> erect extensive nf>rki and eommemv the manufacture of iron and *v*\ in Canada. 1 The announcement **»made by the trade journal Hardware ami Metal, io March. It w«* stated that the' Trust. had *iicqm'r««i' a inte for the factory,' a» vrcli' • m extensive .■ coal and' Iron ort"'aresi ;ift Oatevfc .' ; oa«' of these areas, which had 'been carefully examined by the Trust's experts, had bee a reported to be the most extensive in the world. " Fill details will not be ' made ' ■ pttblie for some time," stated Hardware and Metal. "It may be some time before building operation* begin, and the entire plant will not be firmbed for two or three years or longer. Ibis will depend on the industrial development of {hr« country. It was stated at a meeting of the directors recently that about >,<**> would be spent on the plant eventually. It is intended, however, to complete certain parts and put them in operation as quickly as possibly. This will an expenditure of £2/MXK f M)." The same journal announced that there was a prospect of m important develop' meat of the Canadian iron and steel industry in another direction. A company composed of Canadians and financed with Canadian capital, had decided to erect a factory in the Dominion for the manufacture of foundry pig-iron. The steel side of the business would be developed later. The announcement is interesting, as showing that the American Steel Triiit will not be allowed to exploit Canada's' mineral sources without competition. The Trusts have secured a firm hold in the United States, and are able to crush out any objectionable competition pretty much as they please. Canada has so far remained fairly free from this form of'domination, and the Steel Trust'# decision to erect Canadian works no doubt marks the beginning of an effort to secure a footing in new territory. The Canadian Government will have an excellent opportunity to j give the United States a lesson is the matter of Trust suppression.