The age-herald., 1899-01-26
THE TENNESSEE COMPANY
Will Increase Its Output Of Coal and
 x Pig Iron.
ARRAY s3y s .NTS TO RETIRE BONDS
3 z ort Business is Especially
  V . ying and the Company is fly Marketing 10000 Tons
 c of Pig Iron Abroad.

New York, January 25.-(Special.) .)-The New York Times will tomorrow publish the following interview with A. M. Shook, vice president of the Tennessee Coal and Iron company, giving his views of the iron and general business outlook in the south:
 'At no time in the history of the Ten- nessee Coal and Iron company have the prospects for its business been better than they are today. The demand for all of it's products has been phenomenally large. It's export business is especially gratifying, 10000 tons of pig iron daily being marketed abroad Its coal trade is larger than ever before appearing in the records of the com. pany.
 Arrangements have just been completed for the retiring of S700,0 of it's per cent. bonds that are subject to call. These are the s4OO,000 Eureka and $S00 900 Alice T per cents. The building of the large plant, together with the industries that 1t is drawing around it, is creating largely increasing local demand for the company's products. both of coal and iron. It is mining and marketing 350,0O0 tons of coal per month-- representing an increase of about 10 per cent. over year ago-and this output will necessarily be largely extended so that ad- ditional consumers locating in the Birming- ham district may be supplied.
 Output of Pig Iron
 "The company's output of pig iron is about 10000 tons a month, and will be in- creased within the coming sixty days by at least 5000 tons monthly. Prices for this iron are $2 per ton higher than they were early last year.
 
 "The outlook for the coal and iron in- dustries of the south is brighter than that for similar industries in other sections of the country. The tide water is more &C., cessible, and there must also be taken into account the fact, now conceded everywhere that iron Is being produced cheaper in Bir- mingham than in any other place in the world. Iron can, in fact, be delivered at tide water cheaper than it can be produced Tn any other section of the United States. And, aside from this, the facilities of the southern iron properties for getting the product to foreign markets are also supe- rior to those of the iron producers else- where, owing to the fact that the entire cotton crop that goes abroad Is practically moved from the gulf or south Atlantic ports, every cotton carrying vessel that Is engaged in the business requiring 800 to N,VVV eoiio Oi DIS HUH tO HOlu II down after all the cotton 1t can accommodate has been loaded.
 Trade in Mexico and Cuba
 Tn Mexico, too, the company's coal and iron trade is rapidly increasing while in Cuba as well a large business is prom sed. There are many other things now in process of incubation that will materially add to the business and revenues of the company
 Outside of the iron and coal isiness there Is great improvement betr :, made all over the south. One of the very largest interests in that section is lumber, and those connected with that industry are more prosperous now than they have been at any time in the past. The lumber mills around Chattanooga are doing an extensive business. To the Chattanooga market are brought the supies of logs from the tribu. taries of the Tennessee river, which pene- trates the most extensive territory of yir- gin forest in the south
 This is also true of Nashville which is situated on river reaching into the same great virgin forests of eastern Kentucky. southwest Virginia and eastern Tennessee There is the largest lumber trade being en- joyed in this region at present that has ever been known, and the industry is in a heal thy and prosperous condition.
 Agricultural Interests
 "All of the southern agricultural interests die ohoWiuB coIlSiueTdDte progress, nOtWitn- standing the fact that products are reIa- lively low in value. The cost of production of cotton and of everything else has gone down also, making net results to the pro- ducer as good if not better than they were formerly. Recently cotton prices have ad- vanced and there appears to be ready market for greater quantity than Is now produced.
 "The railroad interests are also enjoying an era. of unexampled prosperity. On the principal southern roads the traffics are larger than ever before. The volume of business in all lines is unprecedented ex- tending beyond the record of period of good general business which was felt in 1892
 Money is now coming out and seeking employment in greater amount than ever before. Business activity and prosperity in the south are assured. Credits are good and collections prompt. The merchants of Nashville Montgomery, Birmingham, Chat tanooga, Atlanta and Memphis are especial ly prosperous and enjoying the best trade period, perhaps, both wholesale and retail, that they have known at any time within the last ten years"