The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-01-01
The Buffalo Evening News OF Satur-
day contained the following:

The Buffalo Evening News Of Satur-
day contained the following:
An important step in the history of the
gerat Buflalo steel plant ut stony Point
was taken at Scranton yesterday. Tine
stockholders OF the Lackawauna Steel
and Iron company held "A meeting ana
voted to Increase their capital from so'-
$4,000 to $25,oVO,OOO.
Just what tl.at move meant the Stock
holders would not say alter the meeting,
but the understanding In Scranton, The
same as In Buffalo, is that 1t meant put
ting the company Ii share to 80 ahead
with the great plant at Buffalo
Whether the Lackawarna's plant will
be abandoned at Scranton when the Buf-
falo plant Is completed, or continued
there as a branch of the Buffalo works,
Il not known.
MIR. j. j. Albright, one of the principal
stockholders In the concern talked very
frankly and Convincingly with News
reporter concerning the matter this fore
noon.
II don't know what l can say beyond
what has been said In the way of giving
assurance that the steel plant certainly
will be built at Buffalo, said Mr.. AL
bright.
But will anything Of a tangible ma
ture be done In the near future?' was
asked.
"It seems strange to me-" he said.
"that the people seem unable to UNDER
stand that a work Of this magnitude cam
not he done in a week or month. 1t Is
not a plant that can be constructed un-
der a Temporary shed. Imagine the miles
Of plans that must be made Think Of
the great stretch Of machinery that must
he planned for and the drawings that
must be made. Why, If all the mechan-
ical engineers and craftsmen in the coun-
try were employed upon this work II
could not be done In week rs many peo-
pie seem to think. The work is progress
ing as rapidly as possible"
But when will the work on the plant
begin?'
II cannot 60 into details. There are
naturally many things in such an enter.
prise as that which cannot be talked
about in the newspapers.
"But Is not the company losing great
deal by not being able to take advantage
Of the high price of iron and steel?'
'"The company that is back of this en-
terprise is not building this plant be-
cause Of the present advance in the price
of steel and iron. They are building
for the years that are to come. They
are building a great plant that will be
one of the permanent concerns OF the
country"
Mr.. Albright was asked to explain just
what sigfiniiicance the meeting of the
stockholders Of the Lackawanna Stee
company at Scranton had yesterday.
"They met for the purpose OF increas
ing their capital just as had been ad
yertised," he said. "a circular letter wa:
printed in the New York papers some
time ago stating that this would he done
That is all there was to that meeting 81
far as ! know"
"Will the plant be moved from scran
ton to Buffalo'"
THAT is one of the things ! canno
talk about. But 1t seems to me that th'
fact that a million and half dollars
have been expended here preparatory t.
building the big steel plant ought to b'
sufficient assurance to the people tina
the work will be completed. l regre
very much that so much nonsense ha
been printed in some If the papers abou
the Rockefellers and other things II
connection with this enterprise. 1t doe
nobody any good and it Injuries Buffalo
on the outside
]. N. Adam, one of the men inter
ested in the Buffalo steel plant, said t.
Z Buffalo Inquirer reporter:
.The Lackawanna Iron and Stee
company and the concern which vii
puild the Buffalo plant are one an
the same. Now that official announce
ment has meer made. the work vii
be pushed forward busily."