Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1900-08-03
TO CUT PRICES.

IaReS-AmeElcanB In OOutEOl.
A correspondent of the New York
Herald writes:
SYDNEY, Cape Breton, July, 15.-
Smelling works, expected to revoiu-
tionize existing conditions in the iron
and steel trade, will be established here
by the Dominion Iron & Steel Com
pany, at the head of which is H. NJ.
Whitney, of Boston Gas fame. His
chief lieutenants are Sir William Van
Horn, of the Canadian Pacific rail-
road; R. B. Angus, of the Bank of Mon
treal, and R. G. Reed, the Newfound-
land railway man.
The general manager fso IA. VII Mox-
ham, who established the iron plant at
Lorain, and who managed the relief
works at Johnstown when it was de-
stroyed by the flood of some years
ago. The consulting engineer is Julian
Kennedy, of Pittsburg, who acted in
that capacity for Carnegie and other
leading American iron-nakers. The
plant is being erected by Ritter, Con-
ley & Co., also of Pittsburgh who have
built plants in America, England, Ger
many and Russia, and who admit to
this being the largest contract they have
ever undertaken, the specifications COW
ering practically everything requisite
for a first class plant and the contract
figure just touching $4,000, 900.
Sydney's Main Advantage.
Sydney's main advantage lies in its
being the centre Of a vast carboniferouS
area, with an immense deposit of lime
stone adjacent thereto. Next in i'm
portance in estimating its facilities is
its geographical position, the nearest
point to Europe of the mainland Of
North America, only 1900 miles from
Liverpool Thirdly counts the exist
ence OF great beds of hematite ore at
Bellisle, in Newfoundland only 400
miles away, and lastly comes the
bounty which the Canadian government
pays in order to stimulate this indus
try-S2 ton on pig iron and $3.50 on
steel billets or other forms.
The coal beds of the Sydney district
aggregate 200 miles OF productive
seams, of total thickness of 5000
feet, enabling an estimated output of
5000 900 tons for 1000 years.
The hematite ore is obtained from
Bellisle. The deposit there is rich in
quality and rare in convenience No
where else in the world can iron ore
be produced as readily and as cheap
IL.
Millions in BOunties.
The blast furnaces are expected to
turn out daily 1 400 tons of pig iron,
an annual output OF 5-,l 900 tons, which
at 81 ton will yield a bounty of
S1,022, 900. The steel mill is expected
to produce 800 tons a day, or $4,000
tons a year, the bounty on which, at
$3.50 ton. would amount to $438, 900,
total bounty for the first year the
plant is in operation of 81, AGO 600 AL
lowing for the sliding scale of reduc-
tions in bounties, which last for eight
years longer, it is more than likely
that the company will receive about
100000 in bounties before these are
eXtinguished.
With all these advantages in favor of
the Sydney works the claim does not
seem eXtravagant that the starting of
the smelter there will work revolu-
ton in the iron and steel trade. The
production of these commodities in the
more Western centers will have to be
at reduced profit, as an expert au-
thority asserts that Sydney will be
1ol0 " pAOuuo0 tAou at 20 ION less
than the price now ruling with these
concerns which are likely to be its
competitors. The same authority es-
Inmates that this will represent an an
nual loss of $7,500,000 To Pittsburg, in
view of the present and prospective
output OF that center.
Shipbuilding Plant Also.
A shipbuilding plant, it is expected
will be established in che future, for
which industry the surroundings are
decidedly favorable, and in that case
the present plant will be doubled, the
capital stock of the company having
been fixed at figure sufficiently large
-$20, 900, 000-to make that feasible.
Up to date the outlay has been as fol-
lows: