Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1885-07-16
portion of the earnings of the receiver


ship.
George NJ. Reynolds, representing
general creditors, objected to any
"treeze-out game" by the payment o
the interest and leaving the genera
creditors out i'm the cold.
There was a protracted discussion
among counsel representing the var
Gus interests, bondholders and genera
creditors, and the Court at length di
rected an order to be drawn up author.
izing the receiver to turn over posses.
sion of the works to the parties propos.
ing to lease from the Steel and Ore
Company, all parties in interest having
assented thereto. The lessees are A. M
Wilcox of Cleveland, Ohio; H. o. Bon
nell, Henry Wick, L. H. Wells, L. E.
Cochran, Rd. Brown of Youngston,
Ohio, and H. Nippert, of Terre Haute,
Ind.
AS soon as the order was made a
| Post Dispatch reporter called on Mr..
A. NJ. Wilcox of Cleveland, Ohio, whose
name Is first in the list of leases and
asked him for information concerning
the new company.
| "The lease on the Vulcan Iron
Works will be made out as soon as all
of the necessary arrangements have
been gone through with, ,"said he, "and
| we will take charge of the works inn
mediately. Among other things the
approval of the Bessemer Steel Asso-
citation must be obtained by US before
we can manufacture steel rails of the
Bessemer patents. 1 don't apprehend
that there will be any difficulty in OBJ
tanning it, however, ,and it is safe to say
that we will begin operations very
soon."
"How soon?"
"Well, think that we will have the
works repaired and in good running
condition within the next sixty days.
We will be allowed forty-five days by
the Court within which to make all of
the necessary repairs, but it will be ex-
tended if we find any difficulty in get
ing ready in that time"
"How many men will be employed
and who will be selected as superin-
tendent?"
II think that we will employ between
400 and 500; further than that / don't
care to say anythin g."
Mr.. c. F. Stuart of Cleveland, who
figured prominently in the organiza
ton of the new company and. appears
to have considerable to say about ever
ything that the company does, was
standing by while the above converse
ton was taking place: 81 wish you
would get that matter about the Bes-
Steel Association correct" said |
he; Zone of the morning papers said
that the new company would not make
Bessemer steel rails, which is all nom
sense. The works were built for the
of Bessemer steel and
that's about the only kind of steel we
can make. The Bessemer Steel Asso-
citation is an organization of steel man.
ufacturers throughout the country
which controls the Bessemer patents,
and until our company is admitted as
a member of the association, it can do
The st. Louis Ore and Steel
Company, from whom we lease the
Vulcan Works, have an eleventh in
terest in the association and they have
petitioned for our admittance as
in their stead. So. there is no
doubt that the association will consent
to take us in.
Mr.. Henry Hitchcock said that the
lease would be executed in detail as
soon as the consent of the Bessemer
was obtained, which, he
thought, would be within few days.
The Association owns the patents un-
der which the works are run, and their
approval of the lease is necessary.