Birmingham age-herald., 1895-08-04
CHEERING NEWS.
President Garland of the Amagamated Asso- citation Sends Comforting Words of
 an Advance to Puddlers.

The puddlers will have an increase of 25 cents per ton in this district, begin ming tomorrow.
 President Garland of the Amalgamated Association of Iron and Steel Workers of America is authority for the state ment.
 The cheering news was received here yesterday morning in the shape of a telegram, which stated in substance that on and after Monday the scale for pud ding iron in rolling mills would be $4.25 per ton, as against $4, the price hereto fore paid. The telegram stated that manufacturers had conceded the ad- vance.
 This means much to the men in the pudding departmentS of southern roll ing mills. At the Birmingham Rolling Mill company's plant there are 25O men employed in the pudding department, and the average work of each man amounts to one and a half tons of iron per diem. This means about 375 tons per day which indicates an increase of about $10O, or about 5000 per month
 GREATEST sC-----TRN CONCERN. Points That Sho, - 4dammoth Propor-
 tions of the T. O., I. & R. R. Co.
 The stock of the Tennessee Coal, Iron
 
 from $l4 to s3S in the past six months. This rapid advance very naturally caus- ed the jealousy of the bears in New York and, aided by the New York Herald, they made a preconcerted effort to bear the stock, but their attempt resulted in fail ure. This attack by the bears caused President Baxter to give statement for publication of the extent and value of the property of the Tennessee Coal, Iron and Railway company. This company owns seventeen furnaces of modern make, the four at Enslay being the largest and best in the world. Eleven of the seventeen furnaces are now in blast, turning out 53,O00 tons of iron a month. The two OK moor furnaces have been refined and will soon blow in increasing the output to 65, 900 tons per month. The company is the largest producer of pig iron for the general market in the world, and is mak- ing iron at lower cost than at any pre- vious period. It's coal output is from 275, ,000 to 315, 900 tons per month. The coal and iron is ineXhaustible. The com pany has in the treasury SAY 900 of De- Bardeleben bonds. for which 1t has re- fused 921a The sale of these bonds would leave a surplus of treasury assets of over $1, 100000. The profits on iron production are from $2.50 to s per ton, and on coal 5000 day. Since 1887 the company has expended on its property $3,U55, ,SUU. Tn AuulllOH lO tile COdl tHu iron property the company owns eighty miles of railroads, thirty locomotives and 800 cars.
 The iron men are expecting another advance in pig iron shortly. The stocks are running low and the demand is in creasing. The stock on hand in foreign countries is also very low, so that there is no danger of importations. Iron can be advanced $2 a ton oyer the present price without danger of meeting the com petition of imported. iron. The price of pig iron has advanced $2.75 a ton since the 1st of January, and if another ad- vance of $2 a ton is made, the $4.75 about equals the import duty. While the ad- vance in the price of pig has been very rapid it has not equaled the advance in bar iron which is now $S ton more than it was three months ago. Coal has also advanced considerably. The Tennessee Coal, Iron and Railway company is now getting 71a cents ton more than 1t did a month ago The advance in prices in the United States will doubtless af- ford foreign manufacturers to import to some extent, but so far tin plate is the only article that can be imported with profit