The Portland daily press., 1888-12-14
MAINE MEN THERE.
The Coal and Iron Region Of Alabama
Where Portland Men Are
Interested.

birmingham Despatch to Boston Advertiser.l
with English syndicates buying 100000
acres Of coal lands in the South, and when
the fame of Alabama iron spreads so far that
Krupp. the iron king of Germany, declares
SHOULD fate drive me from Germany, 1
would Go to Alabama" is 1t not surprising
that New England capital has been 50 slow
to take advantage of the splendid opportuni-
ties for land investment and industrial de-
yelopment here displayed? Recently a few
Kansas City gentlemen, natives of New Eng
land. have been attracted to this spot, a
proof, indeed. Of its possibilities when the
wonderful and STILL continuing growth of
their own city is remembered. In COMPANY
with party of Rhode Island, Maine, Massa-
chusetts and New Hampshire capitalists,
tney made an inspection run through the
wills Valley from Chattanooga to Birming-
ham. The remarkable features Of the valley
seemed to them to be most attractively con-
eentrated at Fort Payne, the county seat of
DE kalb county. 80 miles above Birming-
nam, where. as have noted, the iron, coal
and limestone deposits are all found within a
range of one mile.
After looking over what had been done at
Birmingham and more recently and more
brilliantly at Bessemer, they were not slow
In taking action, and If New England people
~
ufacturing town of 10000 or more inhabitants
at Fort Payne. A company called the Fort
Payne Coal and Iron Co. was organized, with
Hon: j. w. Spaulding of Portland. Me-, as
president; Hon. ID. II. Goodell, governor
elect OF New Hampshire, and Hon. Henry b.
Peirce. secretary Of state Of Massachusetts,
as vice presidents: Mr.. 9. L. L. Stedman
secretary, and Mr.. E. II. Tobey treasurer.
Among the directors note. also, Gen. Sell
don Connor, ex-governor Of Maine; Hon. f.
Iii n
representatives of Rhode Island. and MT
Horatio Adams Of Kingston. Me. w. J.
Cameron, president of the First National
Bank Of birmingham, and Col. John b. Bod
die, are the local representatives. Mr.. w. Ps
rector.
The Fort Payne Coal and Iron Company.
organized with capital of $1,000, 900, divid-
ed ilto $4,000 shares Of 800 each. 1t is pro-
posed to sell 10000 shares at S25 a share, and
with the proceeds purchase some 5000 acres
OF mineral lands at at Fort Payne. embrac-
ing deposits of iron ore, coal. kaolin, fire.
clay, limestone, with abundant supplies as
well OF timber and water. The company al
r.ady has an option on this property, and
also on ABOUT Tour hundred and fifty town
lots at Fort Payne.
The iron can be made at this point in prof
liable competition with that made at any
other neighboring point seems to me, after a
survey Of the locality and its topography, in
Il
and chemists are to be relied upon. That
this whole section can prosper when any
other iron section Of the country can is dem
onstrated to the satisfaction of an OHIO
paper. which says: There is not furnace
In the South that cannot make iron and shin
1t to the moath Of any furnace in Ohio and
sell 1t at profit for what it costs to produce
iron at an Ohio furnace"
At Fort Payne, | confess to being as fa-
vorably impressed with the immediate prob
n hn rrand Ia Iwr 1rw..
other industries than pig iron, as | was by
the latter, Inviting as 1t Is. Nowhere in this
whole South, neither at Chattanooga nor at
birmingham, nor at any one of the dozen
satellites, have l seen a stock of coke. At
COKE ovens, on the other hand, | have fire.
queltly seen train Of empty cars waiting
Tor the next haul. With no boom In pig
iron, this fact augurs well for those who
may choose to put little money into the
manufacture OF coke, and the fine cokipg
qualities of the coal at Fort Payne Suggested
that point as one of the first to be developed.
Then, when one looks into one of those l5O-
ton furnaces of the Tennessee Coal and Iron
Company at Ensley, and tries to realize that
zoo,OuO Dig nre Drick are consumed in its
maintenance every year; that those fire
brick come all the way from Liverpool, o.,
Dy rail-, carriage enormously enhancing
their cost in the South; that the economical
manufacture of the future, which competi-
tion will force, will necessitate the
making Of those brick nearer the place of
consumption; and lastly, that al. Fort PAYNE
the deposits of friedrich clay are practically
inexhaustible, there is discovered the basis
OF new industry which compares in profits
with those upon which it feeds. OF kaolln.
OF quality to make the finest Of crockery
and porcelain, there Is a large deposit near
Fort Payne, and there is not an extensive
pottery south Of the Ohio River.
An offer has already been made to estab-
lish steel producing works at Fort Payne,
to use the newly discovered Henderson pro-
cess, whenever pig iron furnace shall have
been put under way. Inducements to bank
ing capital are also offered by a shipper of
cotton who will make that his depot for at
least 1000 bales year if bank can be es-
tablished. And so. with little New Eng.
land energy and capital applied to the bril-
liant possibilities Of the place, there Is no
reason why the remarkable records of Besse-
mer,and Birmingham shall not be equalled
at Fort PAYNE. GALEN STONE.