The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-07-01
CONSOLIDATED PROPERTIES
wiIIce : 10000 Acres ofLand
81 Four Furnaces.
SEW : HUNDRED COKE OVENS
c.S
s
j. c :. Searles Is Leading Figure in
the Organic Options in Part
Secured Eight and Ten
Years Ago.

John E. searles and Abram 8. Hewitt OF
New York and some of the leading New
York and Boston associates, the Interna-
tiona Trust company of Baltimore, Messr5.
Middendorf. Oliver & Co. of Baltimore,
John L. Williams & Sons of Richmond and
others have just succeeded in arranging
one of the most important coal and iron
consultations ever effected in the south.
A syndicate with a capital stock of $5.-
100000 has been organized, all of which has
been underwritten, and has purchased the
Clifton Iron company, one of the most
noted iron properties of Alabama, owning
10000 acres of land and two furnaces; the
Standard Coal company, regular dividend
paying coal property, owning $4,000 acres
of coal land the Mary Pratt furnace In
Birmingham; the Gate City properties, ad-
jacent to Birmingham-which was pur-
chased some months ago by Baltimore and
Richmond interests-and the Gadsden fur
mace and large ore properties in connec-
tion Herewith.
Will Cover 10000 Acres
The consolidated properties will cover
about 10000 acres of land four furnaces and
several hundred coke ovens. Repairs to
some OF the furnaces, the building of four
or five hundred coke ovens and the treb-
ling of the coal output are now under way
and will be completed in about four
months, when the company will have an
aggregate capacity of S0oo0 tons of pig
iron per year, and daily output of over
1900 tons Of COAL These properties have
been examined by some of the ablest ex-
perts in the country, including Ricketts,
and Banks of New York, J. p. Witherow
of Pittsburg and Nicholas s. Hill, Jr., of
Hill & Howard, Baltimore.
All reports indicate that these are among
the most valuable coal and properties in
the south, and 1t is believed that the COM
pany will have the best combination OF
brown ore and red ore and high grade
coking coal of any company in Alabama.
With its furnaces located at the most avail
able points for the cheapest production of
high grade iron, 1t will be able to make
iron at profit even should prices ever re-
turn to the low figures prevailing two or
three years ago.
I. G. Bush President
T.. G. Bush president of the Clifton Iron
company, one Of the ablest and most noted
iron men of Alabama, will be president of
the Consolidated company, and F. NJ. jack
son, general manager of the Standard Coke
company, who has operated that property
for the last ten years, will have general
charge of its coal and coke interests.
The options on some of these properties
were secured eight or ten months ago, be-
fore the present activity In iron commenced,
and could not be duplicated at present.
The properties will be paid for in full. All
improvements and engagements of opera
tions of mining coke and iron making have
been provided for and the new company will
start without any Indebtedness, Of any
Kind, as no bonds are to be issued, and
with ample cash working capital.
Messrs. Joshua Levering and Richard II.
Edmonds are in Alabama representing the
International Trust company in arranging
for the transfers of these properties. Mr..
Abram s. Hewitt, one of the most noted
iron men of the world, who has long been
Identified with some Alabama interests,
will be director in the company, as Will
John E. Searles. This is one of the first
fruits of the trip made by Mr. Searles last
winter in company with Richard H. Ed
monds, of Baltimore, in the study of the
resources of the south.