Rock Island Argus. (Rock Island, Ill.) 1871-1872, 1872-06-06

BOARD OF THADE- IRox AND Steel
WoRKs.-The Board Of Trade met at the
Council chamber Wednesday evening, and
was called to order by w. W. Eggleston,
the President, who stated the object of the
meeting was to confer with Mr.. Williams, OF
Ohio, regarding the erection Of Iron and
Steel Works in this city
! Mr.. Alex Steel said that Mr.. Williams
was one of the proprietors of the Burgess
! Iron aud Steel Works, at Portsmouth, Ohio,
aud also Of Rolling Mill at Paducah, Ky.
Mr.. Williams visited our city last February
and had investigated the advantages offered
! for the esta blishment Of Il mill here. He
had, in company with Mr.. Bailey Daven-
| port, shown Mr.. Williams about the city,
and was pleased to report that he can be
suited with land for the works, which Mr..
| Davenport has generously offered as dona-
I ton.
Mr.. Williams was then introduced, and
stated that be had made a thorough exam
nation Of this point aud its advantages,
aud declared it TO be fully as good as the
point where his works now are, and thaE
coal costs less than they are now paying
A. this point they would have TO use pig
iron as our coal would not smelt ore. He
was satisfied that there is no risk in moving
the works here, snd came here to see
what the chances were. Matters had gone
so far, however, be would state his entire
plans, as follows:
The works would employ 300 men and
consume $50 tons of coal a day. They
have now g capital of $l65, 900, but wish to
increase it to 100000. They would re-
quire, Of the citizens OF Rock Island a
bonus Of say $35, 600 to meet the expenses
incurred in making the change of location,
aud loan Of $4,000 on bond and mort
gage, for term OF three years ct seven per
cent interest. They would not object to a
limited amount, IS capital stock, bot pre-
terred the money as loan. They have q
monopoly OF the process for the msnufac-
ture Of steel, known as the "Burgess" pro,
cess. The money would not all be required
8, once only as the works progressed, but
the entire amount would be needed within
eight months. They are now using largely
OF Missouri iron, and have been paying
from $3.50 to SIS 90 per ton freight, while
the same could be delivered in this city at
from 81 to $3.50 showing a saving OF from
81 10 $3.50 per ton in favor Of this point
1 II will require from fourteen 20 fifteen car
loads OF coal every "a hours TO run the
works day aud night and this would have to
be done, as IL costs so much TO start up
after shutting down. This would also be q
good market IN which to buy scrsp,iron
Their steel had been tested bv the cutters OF
this country, and at Sheffield, Eng, il toe
manufacture OF cutlery and razors, and had
been pronounced good
The idea Of establishing rail mill in
connection with it was discussed and 10
talking Up the advantages of lhs scheme
DR.. Pummer instauCed Sharon and other
+ towns in the east.
Go motion Of a. r. Mayo the following
gentlemen were appointed a committee TO 10
,esglgRte the matter under consideration and
report at future meeting Of the Board
Aessrs. ). Il. McCslister, Judge Guyer, A. c
Dart, Spencer White, De. Bresdy, Joseph
Bracket, c. Il Deere aud r. X. swan. .
A vote OF thanks was unanimously ten
dsred TO Bailey Davenport for his generosi
ty in donating the land.