The times. [volume] (Richmond, Va.) 1890-1903, 1899-07-01
Messrs. John |, Williams & Sons
Members of Syndicate.
WILL BEGIN FREE OF DEBT.
The New Company VIII Issue No
Bonds and VIII Have an ample
Cash Working Capital - The
Property is Among the
Most Valuable of Any
in the South.

ANNISTON. ALA. June Special
Messrs. John j.. searlcs and Abram s.
Hewitt. of New York. and some Of the
leading New York and Boston associates,
International Trust Company of Bau-
more Messrs. Middmdor. Oliver d. co..
of Baltimore. John l.. Williams q sons
of Richmond and Others have just sue
ceeded iu arranging one of the most Inn
pOrtant coal and iron consultations ever
effected in the South.
STOCK ALL TAKEN.
a syndicate with capital stock OF
$5000O Oo0. has ben organized. AN of which
has been underwriuen. and has pur-
chased the Clifton Iron Company one of
the mos noted iron properties of Ala
hama. owning $1,000 acres OF land and
two furnaces. the STANDARD Coal Conn
pany. "a regular dividend paying coal
property. owning 1900 acres OF coal land.
the Mary Pratt Furnace. in Birmingham.
the Gate City properties, adjacent 10
Birmingham. (Which was purchased some
months ago by Baltimore and Richmond
interests and the Gadsden (Ala)
furnace. and large ore properties IN con-
necton Herewith. the four furnaces and
several hundred coke ovens.
Repairs 90 some of the furnaces. the
building of four or five hundred coke
ovens and the treblng Of the coal OUT
put are now under way. AND viii be COM
Dleted within about four months when
the company Will have an aegrcgate OF
property of 10000 tons of pig iron per
year. and daily output of over 300 tons
of coal
PROPERTY VALUABLE
These pr0Ufrties have been examined hY
some of the abiest experts in the country,
including Ricketts, and Banks of New
York. j. r. Withr0w, off Pittsburg. and
Nicholas S. Hin. in. (of Hiu aud How
ardl. Baltimore An reports indicate
that these are among the most valuable
e..f .f 'rl I..t..l,.a u tne South.
and IL Is expected that the company Will
have the best combination of brown ore
and red ore and high grade coking coke
and coal of any company in Alabama
and with IT'S furnaces located al the
most available points for the cheapest
production OF high grade iron. VIII De
able to make iron at profit even should
price. ever return To- the low hgures
prev1uing two or three years ago.
THE OFFICERS.
Mr. n. q. Bush. president of The Cliiton
Iron Company. one of ihe aDlest ana
most noted iron men of Alabama. VIII ne
president of the Consolidated Company
and Mr. r. ST. Jackson. general manager
of the Standard Coal Company. who has
operated that property for the Iast ten
years win have general charge of lis coal
and coke interest
The options ON some of the properties
were secured eight or ten months ago.
before the present activity in iron COM
menced and could not possibly be- dup.i-
Gated at present.
FREE OF DEBT
The properties will be paid for in fun.
All improvements and cnlareemeuts of
operations 0f mining coke and iron max
ing have been provided for and the new
company viii start without any ndebt-
edness of amy kind as no bonds are 90 Doe
issued and with ample cash working
c9p,taI Nessrs. Joshua Leverlng and
Richard II. Edm0nds are in Alabama Zee
presenting the international Trust Com
panv in arranging for the transfers of
these properUes Mr. Abram s. Hewitt
one of the most noted iron men of the
world who has been identified with some
Alabama interests viii be "a director in thc
company as win Ar John +. Scaries.