The comet. (Johnson City, Tenn.) 1884-1916, 1891-04-30
WHOLE NO. 366.
An Experts Opinion on Southern
Iron and Steel Making.
Manufacturers Reeor /.

tftNNA AA'hhhHs
Manufacturers Reeorl,
Col A. NJ, Shook, who has so long
been prominently identified with the
iron and steel interests of the South, is
endeayorng to secure the building of
large steel plant at Ensly City, near
Birmingham, Ala. Col. Ensley and
Mr. I. I, HillmOn, of Birmingham.
have incorporated the Southern Steel
| Co. for this purpose, and the Tennes-
see Coal, Iron and Railroad Co., which
owns 81 per cent, Of the Ensley Land
Co., has agreed to transfer this to the
steel company for 100000 stock in the
latter company, which will be capital
lied at 100000, upon the under
standing that outside parties shall
raise 100000 cash. In discussing
this enterprise and the future of
Southern iron and steel, in an inter
view in the Nashville American, Col.
Shook said:
Southern iron makers have arrived
at point where they must enter upon
the manufacture Of steel or wait indel
initely for any further development Of
the iron interests of the South"
In reply to question whether he
made this statement unqualiRedly,
COL Shook said it was his deliberate
conviction. Southern iron men had,
he said, just succeeded in crossing the
Ohio and reaching Pittsburgh and the
Mahoning and Shenango valleys, when
the iron makers of that region, forced
to shut down their blast furnaces, de-
clared with practically one voice that
they would not start up again until the
railroads, coke burners and ore and
coal mine owners readjusted the prices
OF the raw materials which entered
into the making of pig iron, so as TO
enable the owners of the blast furnaces
to sell their products, at least, in the
markets north of the Ohio at rate
that would force back the Southern
invaders, That readjustment has al
most been accomplished after n strug.
gle in certain quarters, Of which the
terrible coke strikes are an illustration
and these blast furnaces are now in Il
position to sell pig iron at - a ton less
than they have sold it heretofore. In
other words, the railroads have reduced
the rates of transportation; the coke
burners and coal and iron miners
that is, the owners OF these industries
have reduced the price of materials.
1t was, Col Shook remarked, COM
mon cause against n common enemy.
The result is that the products of the
Southern blast furnaces must be util-
lied more than ever at home. And
this, he added with emphasis, is made
all the more imperative from the fact
that the use Of steel is rapidly taking
the place of iron in all manufactured
articles.
"Now then" said Col. Shook, "our
confident hope is that the railroads
centering in Birmingham, where the
plant is to be located, or should say
Ensley, six miles from Birmingham,
must make up every dollar Of this
outside half Il million Of stock.
"When the basic process was first
discovered in England twenty years
ago" the greatcost Of experimenting
with it was such that nobody would
undertake it, One of the great rail-
roads, recognizing that it was prob
ably great factor, placed G25,000, or
S125,000, in the hands of firm with
directions to give the discovery thor
ough trial at Middlesboro The result
has been to make Middlesboro the
greatest iron market in the world.
"Now, am positive that the rail
roads about Birmingham can afford to
do as much in this instance But even
should they never even reap a dollar
OF dividend, the indirect benefit it
would be to them in upbuildipg that
region and preserving the future pros
perity Of the furnaces they take freight
from should be a sufficient induce
ment.
II mention this because | want these
railroads, for their own sake, toencom-
age and uphold this enterprise.
| Continuing in the same voice, Col.
Shook said that the proposed plant at
Ensley would be upon much greater
scale than that at Chattanooga, and
in referring to the latter, he stated
that even in the prolonged depression
in iron it had managed to live,
and that in prosperous times it must
inevitably make money. The results
at Chattanooga, he said are no longer
an experiment
"We in the South, added Col. Shook
"are making 100000 tons Of pig
iron per annum. | predict that five
years hence we will be making 2,000,-
600 tons of steel. 1t is absolutely GER
tain that we can make steel at remun-
oratiye prices.
A Glorious Record.