The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-11-07
CONSUMMATION OF
BROWN ORE DEAL
Most important Ever Negotiated
in the South.
AGGREGATE 5000 ACRES
Success ofthe West Point Mining Com
pany Is Without Parallel-Devel-
opment of the Fields at p
Russellville.
5000 ACRES

Florence, November 6.-(special.)-T
most important brown ore deal ever nego-
tiated In the south has just been consum-
mated in this city by Messrs. A. A. Ber-
ger and N. G. Elting, president, secretary
and treasurer, respectively, of the West
Point Mining company. The sale is of vast
import to the northern Alabama iron dis
trict
The entire assets of the West Point Min
ing company, which practically controlled
the brown ore fields of northern Alabama
and southern Tennessee, has been sold to
the United States Ircn company of New
Jersey, corporation organized with a
paid up capital of 81 100000.
The deal embraces all the personal prop
erty belonging to the West Point Mining
company, including washers and equipment,
and all the personal property belonging to
]. King MeLanahan, of Hallidayburg, Pa,
formerly operated at Pinkney Tenn, to-
gether with the Wilson. Hyde. Mcintosh,
Hurst, Hamilton, Douglass and Richard
son ore properties at Russelville, Ala, the
West Point Mining company Brunnell, Her
ron, Hollis, West Point Iron company,
Couch, VanLeer, Powell, Hamilton, Buck,
Smith, James Smith, Bivins and Emmett
properties in the West Point Tenn, dis
trict, and also the valuable Laney proper
ties in eastern Alabama, north of Annis-
ton.
These properties aggregate about 5000
acres of land, on which 1t is estimated there
are thirty million tons of brown hematite
ore, averaging 50 per cent metallic iron, and
worth at conservative estimate at least
81 100000
The West Point Mining company was or
ganized about one year ago by A. A. Ber-
ger and N. C.. Elting, the former being
elected president and the latter secretary
and treasurer. The success of this COM
pany is without parallel in the SOUTH From
a small institution with paid up capital
of $4,000 1t continued to expand until 1t ac-
CURED and controlled the most valuable
aggregation of brown ore properties in the
entire south. It's success has exceeded by
fer the expectations of the original promo
ters. The gentlemen who negotiated this
deal are expert in the iron ore business and
have rendered the north Alabama section
a great service. Their ability to handle
property of this value has been clearly
demonstrated by carrying this immense deal
to a successful conclusion.
The officers of the United States Iron
company are as follows: j. w Gates, pres
ident; c. G. Gates, treasurer William Ed
enborn, ]. w. Gates and Col. 1. l.. Ellwood
executive committee They are gentlemen
of the highest character and integrity, and
perfectly able to carry out their policy of
development from financial standpoint.
&c tba Of ba Arna
lean Steel and Wire company corporation
with capital of 800 900 900, and the largest
producers of steel wire in the world. Mr..
Gates, together with Messrs. Edenborn and
Ellwood, are the members of the executive
committee of the American Steel and Wire
company The United States Iron company
has financial backing that insures it's abili-
ty to develop the large properties they have
just purchased, and their coming into this
field means much to the iron interests of
the entire south.
They are already operating the mines at
West Point, Tenn, formerly the property of
The West Point Mining company, and also
the McLanahan mines at Pinkney, Tenn,
and they are making preparations for the
development of the fields at Russellville,
Ala. To do this means the expenditure of
millions of dollars, and the value of the ore
when taken from the ground will be al
most incalculable The entrance of this cor-
poration means the development of inter-
ests that could hardly have been accom-
plisned by local money, and the next steps
will be awaited with interest.
The deal is perhaps the largest that has
ever been engineered in this section of the
south, and Messrs. Berger and Citing are
to be congratulated upon their success. The
United STAGES Iron company will become
the largest producers of iron ore in the
south.