The age-herald., 1900-01-20
WALL STREET VIEW OF THE SITUATION Prosperity of the Tennessee Coal
 and Iron Company. SOME AMAZING FIGURES Net Profits Likely to Reach $5,ooo,ooo Against $l.soo,ooo Last Year
 Bear Attack Upon Its Secur-
 ities Considered Absurd
SOME AMAZING FIGURES

New York. January 19.-(Special)- )-The Financial and Commercial World of this week publishes the following article con- cerning the Tennessee Coal, Iron and Rail- road company:
 Judging from the figures that have re- gently come to hand, Tennessee Coal and Iron quotations are likey to be very much higher in the immediate future than they have been of late.
 For some reason or other, which was never clear to those who are really well informed in regard to this company's prop erty, the bears chose to begin series Of attacks upon its securities not very long ago, and prices were hammered down to figures far below previous levels. Weak holders were shaken out to a considerable extent, to use the Wall street phrase; when in reality higher prices would have been more logical than lower.
 Net profi,s 5000 900
 '"rhe absurdity of the bear raids upon this crganizat ton is brought into striking relief by some figures which have recently come to hand. It appears that the net profits Of the company this year will not fall short of $5, ,000,000 as compared with about $l,- S00,000 last year Actual contracts have been made for 600,000 tons of iron and steel, to be delivered during the current year, and in addition to these signed contracts there is enough business in sight to keep all of the plants of the company running full time at least ten months. This means that the surplus earnings will amount this year to about $3 900, ,O00 or about 19 per cent. on the common stock, after paying the over due cumulated dividend the preferred of 4S per cent, and providing for all taxes, rentals and fixed charges.
 Tennessee Coal and Iron now owns more furnace stacks than any other iron prop erty in the world. During the past year the company purchased all the properties of the Sheffield Coal, Iron and Steel com pany, located on the Tennessee river, at Sheffield, Ala. That company had been the chief business competitor of the Ten nessee Coal and Iron and its absorption was regarded in Wall street master stroke of sagcity on the prt of President N. Baxter, Jr., and his associates. The plants and properties thus acquired cost more than $2,OO0,o 900 originally, but the company did not pay anything like that amount for them.
 The Steel Plant
 ''The steel plant of the company, which went into operation on December last, has met with phenomenal success. While the whole ten furnaces of the steel plant are not yet in operation, those that were put in blast have continued regularly, and the quality of the metal produced has been eminently satisfactory The plant is one of the largest in the world, and being the most recently built, is undoubtedly the best. Such is the universal verdict of ex- perts, managers and superintendents of other famous works in this country and abroad, who have recently visited and dn- spected it. The company has market for deliveries for the current year for more than half of its products, at prices entirely satisfactory to 1t. This, it wil be under stood is most valuable addition to the company's property and from 1t the man. agement confidently expect most satjisfac- tory results. It is also understood that several new coal mines and coke ovens plants, the development and construction of which were undertaken last year, are now about completed, and within a very few weeks the output of coal will be in creased from 2,50O to 5000 tons per day.
 There is no doubt but Tennessee Coal and Iron Is today one of the strongest, trials in the country, and, as we have said higher prices for its securities are inevita- ble."