The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-05-19

the State University, was IN Birmingham
yesterday He Is naturally gEatified by the
growth of the university under his man
agement. In 1867 the enrolment OF stu
dents was 1877; in 1s97-9S. 1876; in 1s9s-99, go
These figures furnish signal proof of Dr.
Powers great ability, and are gratifying
to the Alabama public. The state has no
more useful servant than this successful
and distinguished educator.
Many returning legislators tarried In Bir-
mingham yesterday. Amongst those seen
in the Hobbies were Senators Cunningham,
Sowell of Walker, Horton, Mathews of
Marion, and Hail; and Representatives a
M. Tunstall, Wilson r. Brown and Bernard
HARDWOOD.
Editor Earl Cochran of the Fort Payne
Journal is in the city. lie Is one of the
best newspaper men in the state, and pub
fishes one of the neatest, newsiest and best
weeklies. Mr.. Cochran reports the indus
trial outlook for Fort Payne to be most
promising. The city is growing and the
people are confident.
0lSpuSu oillullb Ol I4lNlu5StOuB 10 Tic SuSot
of his brother, Hon. A G.. Smith, in this
city.
ROUNDING UP THE STEEL INDUSTRY.
What has been done in the way of con-
solidation in the iron and steel industry is
reviewed in last weeks issue of the New
York Financial Chronicle. The important
consultations are the Federal Steel COM
pany, with a share capital of about $780,
00O, 900, and bonds of SIS, 1884, 600; tne Ameri-
can Steel and Wire company, with a CAPT.
tai of sS6,OO0,O00; the American Tin Plate
company, with a capital of $46,O 900; the
National Steel company, with a capital of
$50 000,000; the American Steel Hoop COM
pany, with a capital of $4,000 900; the Re-
public Iron and Steel company, capital
SAT 100000; the United States Cast Iron Pipe
and Foundry company, capital, $So,e90 600;
the National Tube company, capital $780,
100000, and the Carnegie company, capital,
at a low estimate $3.50, 100000. One or two
other smaller concerns are noted in addi-
ton.
Altogether here are consultations which
have been formed within a, year, and which
have outstanding or in process of issue cap
ital in stocks and bonds aggregating $685.
125,O0O. But the Carnegie company talks of
a capital of $500, ,00O and in that case
the aggregate for the above consultations
would be $10S9, 125,OO0 There are besides
several large old iron and steel companies
which are either being reorganized or~ex-
tending operations, whose capital aggre-
gate over $10OG00,000 and three other large
companies, the Jones & Laughlin, and
Lackawanna, and Sloss Iron and Steel
companies are to be added, with a capital
of SIG, 10000 The summary is as follows:
Large consultations. -. :. 1873, 125 900
Companies extending operation. 101 49,, 001
Other large companies.... =. >. =. $3.50 900
Total. 80, -, .$9OS Ia, 000
Or, taking the Carnegie capital at the mini
mum estimate talked of-S500, 900 ,000-the
grand total becomes 81, 15S, ia, 900. This is
for % companies altogether. The IL con-
solicitations embrace nearly 200 formerly in
dependent companies.
The census of 1890 found about 1000 in
dependent establishments engaged in the
iron and steel industry, in its cruder and
heavier forms, and the manufacture OF
bolts, nuts, rivets, pipe, nails spikes, forg-
ings, enamel and stamped wire, etc. These
establishments covered substantially the
same field which the above consultations
now largely monopolize, and their total
capitalization was reported at less than
$500, 000, 600.
While the consultations and large COM
panies listed by the Chronicle presumably
comprehend the bulk of the iron and steel
industry, yet many small concerns are not
included; and so we may say that capital
of over a billion dollars is now to carry
on only part Of an industry which ten
years ago engaged less than half a billion
of capital for the whole of 1T. 1t is not to
be supposed, of course, that the industry
during the decade has expanded to any
such extent as the nominal capital engaged
would Indicate The fact is that the con-
solidated capitals have been heavily
watered for the purpose of concealng the
extortionate earnings of attempted monop-
oily.
THE MAN WITH THE HOE.
r.