New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-14

UNION OF TaF TINNES>IL AND THE DE- BNh
DELEBEN co>L NND IRON CORPORATIONS.
The negotiate which have been roniia- ior ~"
Int two wccl. for "a union " the Tennessee '""i.
lrol and Railroad G miauy with ti" d. haF'''''"
coal and Iron Company and the >lo-,. Iron ava steel
Contcuy. have been successfully con dmaicd -" lar ~
thc nr two COM, ration, ar, concerned. III" terms
have been agreed up'n satisfactorily between th'' i"'
which repr,,cn, more ran nyesiNihs u the entire n
t.r,.t- tuvoy,d The >lo-s C1mrany which repre-
sent, c,s than oc Ath - the catr property has NOT
becu included 60 tie new arTun- mcnt
General statement of ,hc result OF TIE negotiations
wa. made yestcvl1y hy the pcsidcut, ol tf tWp com
rnlc.. * senator TAoua, G. Iatt of tho tennessee
Cnu,plur and Henry /. De Ea.tclahcn. e. 10" p'
l,.,ic!c~n Company. First II MAY Doe ,ad thai there
will b, %, c.,u lu tn" organization OF the tennessee
Co,l and Iron Company, except Increased tepfc'""A
t,n ir the boaId of directors and M Increase IN 10"
.u,,,n. - capiiallniion IN" capital of the D.
Iard,l,lcn COMPANY wa SloOJD.OoO iu stock. ana i
had ,ot s3OOOO0O ia bond. The tennessee coal
and Irnn C.mpuny had out fJ.ooooo' Ia bonds ana
had - 100000 m preferred stock ard S2,oooo'o com
mon .t,ch That j., To ,ay the two commuir, trPsr
.cuf.d c;,p!tallnuoa OF 80" 900 900 n common ,oc"
and a OOJoOO ia preferred atJ.h and had f-ooo'po
Of bonded Indebtedness. The capital OF what may bc
termed Tor convenience, the new company VIII DE
s17 900 OOO comiuon stock and Si0oo."oo preferred
torl and ~ .OOo 900 OF the common Stock VIII remain
In tlr II
Joint cpta stock ha, been sealed down, not Increased
The Importance Of tn, transaction can be- better
understood by u bl1cf glance at the two properties
The Tennessee Coat and Iron Company WAS chart 'ted
In 1s5., a., the scwanee Mining Company. In l-j' It
us changed TO the Tennessee coal and Railroad com
many and continued operating under thl' name unu
l-si when IT al. orbed the sewaucc Furnace Compau'
ycar later Il absorbed the southern state, Coal lion
and Land Company OImtcdl, ana thcn ITS name "as
chnnr.d n II, present title. the Tennessee coal. Iron
and Railroad Company. -Four year Later t "h-orb"d
he Pgut, Coal and Iron Company ana the Alice Furnace
Company. At present It owns 2o-,VoO acre, oi coal
and Iron land. chiefly IN Alabama, and id, ten blast
furnaces and 1880 coke oycn-. IT, daily output II
abou, / ooo tom Of pig iron aud 500 ton, Of coal
The De Bardcbcn Compar' represent, the 'onsoi
dation of a nafdulcn di.icrcnt corpora Ions. II AT
fir, tofl,,d the Ecs-cincr lion ANA steel Company
and then the Lltlc Ecll. ncAt the Eureka und the
lleuryenon All this absorption la, taken place
within the last four YEAR. Thi, company OWNS
100 600 acre, o. coal and iron lands IN the Warrior
and Calaba cod basins of Alabama. II Ia, seven
blast furnace, aud 0iO coke ovens. 1t, daily output
i, 7ao ton, of DIG uou and 5000 ton, Of coal. III,
company', lard, are uterlockcd ana mtcrWoNcn with
those Of the rcnnes-cc Coal and Iron Company. In
fact il may De- said ttat the two canpanic, have zen
rivals In the fullest -ense OF the word. They mined
their coal in practically the territory, made their
iron and coke under similar conditions and with the
same advantages. sold their output In the same mar
kets and the main advantage Of uni0l would be- or
conr,e TO minimize The expense Of production.
Thc wo great coal basins OF Alabama are the Warrior
and CahaLa They are separated by the Red Noun
tain which contains the iron Cic from which thcsc
compauic. drew their supply. over .lAty miles of tins
mountain l. now owned hl these oomplnir' ihr
Warrior coal field CARRYING the cohlEs coal !, under
aid iv the Pratt aud Blue C.r"k the Pratt be-
ing about II feet In thlchncs, aud the Blue Gre 'k
eight feet minmnms ime % naant oatrr cn" uome',o
qmires about forty live mile of the Cahrba and about
hny miles OF the Warrior hcds