Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-11
GREAT IRON COMBINATION.
SIoss-Sbemeld Steel and Iron Com
pnny to BE Incorporated.

kNtW 1DIk llNtS.D
with the Incorporation of the Sloss-
Sheffield Steel and Iron Company, to
operate with a capital of $4,000 900 in the
coal and iron-fields of Alabama the most
important of the recent cancellations or
southern mineral properties will be atart-
ed this week under the laws of New .ier-
sey.
ms company VIII nave SlOUvJ,OOO IN
preferred stock and n like amount in COM
mon stock, but for the present only SG-
10000 Of preferred and S7,50OO00 of COM
mon will be issued, the rest TO be held I'm
the treasury for use I'm the further devel-
opment of the properties. In the forma-
ton OF the company the interests of the
Sloss Iron and Steel Company and the
Sheffield Steel and Iron Company have
been consolidated, both of these being inn
pOrtant factors in the development OF
what is known as the Birmingham region.
This consolidation. following so closely
upon the recent Incorporation Of the Ala
bama Consolidated Coal and Iron Com
pany, Of which John T. Seares is the
yice-president and leading spirit, and
which will also operate i'm the southern
field. is considered by people who are in
terested in such matters as striking cvi-
dence Of the increasing activity among
the iron manufacturers to fix their claims
for years to come upon all the coal ana
iron properties available
This will put three large companies
In the southern field competing with
each other in vigorous rivalry as they go
about the development OF Alabama
mining property" said John L. Searles,
yesterday. II refer 10 the Tennessee
Coal and Iron Company. which has been
operating for some time already; the
Alabama Consolidated Coal and Iron
Company. recently formed, and the Sloss-
Sheffield Company, which is later an
nounced as forming. OF course there
are many other individual furnaces and
plants on smaller scale.
There can be no wonder at this ac-
uWty in buying up southern iron pro-
Ierties when ono stops 10 consider that
there was never time when the demand
for iron products was 50 great, not only
at home, but abroad. The supply in
England Is short, and the American pro-
duct is finding its way TO many foreign
countries. Naturally we turn to the
South-to the Birmingham region-for the
future. Not only are the elements there,
but they are SO intimately associated that
the manufacture OF iron I'm Alabama can.
III my opinion, be made more profitable
than at any other point in the world.
The output Of the State last year. in long
tons, was 24Ol AS while that Of Penn
sylvana was 773.0S2"
The Sloss-Shehield Steel and Iron Com
pany, which. IL is announced. Will be in
corpOrated this week at Trenton, y. j.,
and which will be a rival 10 Mr.. Searles's
company as well as the Tennessee Coal
and Iron Company, will embrace four fur
naces in Birmingham and North Blrming-
ham, which have been practically rebuilt
and equipped with the most modern ma
chinery; the important mineral proper
ties adjacent TO Sheffield and Florence,
Ala, known as the Russellville ore tracts;
the West Point ores, the Lady Ensley
furnace property of about $1,000 acres,
with furnace and Improvements, and two
other furnaces at Florence.
1t is probable that Archer Brown, who
has been associated with Charles r. Flint,
of this city. in bringing about the con-
solidation Of these Alabama properties,
Will be made president of the Sloss-Shef-
field steel and Iron Company. Ii is an
n0unced that sufficient securities are held
i'm the treasury to build a basic steel plant
of capacity equal to that now nearing
completion by the Tennessee Coal and
Iron Company. Capital will be literally
invested in the near future for improve
meQtS