The age-herald., 1899-09-02
Wll Go Up Beside Those At
 Thomas. DALI CAPACITY OF 200 TONS Authorized at Recent Meeting Of the
 Board of Directors. TALK OF THE NEW STEEL MILL The Concern Has Been Laying Plans to Build One in This District-No
 Official Confirmation Re-
 ceived So Far
ALK OF THE NEW STEEL MILL

The Republic Iron and Steel company will build new blast furnace in this district. It will be of 200 tons daily capacity and will be equipped with the most modern and complete machinery for pig iron manufac- turing. Work will begin at once and 1t will probably be finished within eight months.
 The new stack will go up beside the two furnaces at Thomas which were formerly owned by the Pioneer Mining and Manufac- turing company and recently absorbed by the Republic company along with the two rolling mills of this district.
 The plans for the new furnace have al- ready been drawn and in few days con- tracts will be let for the different branches of the work. It will be 1sx2o feet. The quarterly meeting of the board of directors of the Republic company was held in New York during the early part of the week and the building of the new furnace was au- thorized. Among other business transacted by the board a dividend of 1A per cent. was declared on preferred stock.
 Figuring On Steel Plant
 Several local representatives of the com- pany were present at the meeting and 1t Is said that the company is well pleased with its holdings in this district and will con- Itinue to improve and enlarge them. i It is known that the Republic company has for some time been figuring on erect ing large steel plant and two additional iron furnaces. The high officials who vis- ited the district some time ago started ne gotiations for these improvements as soon las they went back north. but no definite conclusion has been reached up to this time.
 i The matter was considered at the meet ing of directors in New York, but just why the deal was not closed is problematical. It is said by some that the building of 8 steel plant may be delayed, but that the announcement of the building of another iron furnace may be looked for any day.
 By experts it Is said that the building of steel plant would be very tedious and a very expensive undertaking at this time. The market price of every sort of material iron and other kinds. has taken a leap upward within the past six months. There is no telling how long the upward trend will continue. for prices are advanc- ing every day. There is serious short age of all character of materials. Plants that manufacture machinery suitable for steel nils. as well as for other industries, are clogged with orders, many of them for more than a year to come. Some are so far behind that they will positively not book orders at any price. All this would make the erection of a steel plant rather cum bersome.
 |. Would Cost Twice as Much
 "This," said a well-infonmed man yes- terday, twill initiate against the building of new industries of any magnitude. If the Ensley steel mill were only started now 1t would cost twice as much as 1t has, and it would take three years to build 1t. It is a difficult task to get machinery of any kind, so great is the demand in all classes of industry"
 It may also be argued that the scramble for steel billets and pig iron is just as great, and that the profit on these products has increased in proportion far enough to warrant the opening of another steel plant.
 It was suggested by recognized leader in industrial circles yesterday that there was more foundation to the talk of the Republic company Improvements than that about those of any other concern. He ar- gued that the Republic company already had raw material iron furnaces and rolling mills The only thing it needed now to turn out finished products without the aid of other concerns was steel plant to supply It's rolling mills.
 It is not denied by the Republic com- pany officials that big improvements are contemplated, and in all probability are al- ready well under way as far as the inside workings are concerned.
 The Gate City rolling mills are running night and day, and 1t Is said not to be at all unlikely that improvements will be made in that plant.