The age-herald., 1901-08-15

 RUMOR REVIVED. Is U. s. Steel Corporation After
 T.C. l. Company? WOULD BE IMMENSE DEAL United States Company Said To Be Laying Plans to Control the Big
 Industries of the South.
 Nothing Official.
WOULD BE IMMENSE DEAL

The report that the United States Steel Corporation had made overtures to the Tennessee Coal and Iron Company is be- ing persistent1y revived in all sections of the country The statement is that the big trust has made certain advances, which, if accepted, will result in the alli- ance of practically all Southern iron and steel plants under It's wing.
 The report has not been verified in off cial quarters, neither has 1t been denied. Every official interviewed dismisses the subject with the assertion that he has no knowledge of any such negotiations. This was practically the statement of Don H. Bacon, chairman of the board of directors of the Tennessee Company.
 The latest revival of the rumor grew out of conference said to have been held between the banking powers behind the Southern corporation and officials of the trust. The result of this conference has not been announced.
 A few months ago the United States Steel Corporation submitted certain pro- posals to the Tennessee Coal and Iron Company and the negotiations were under way at the time of the first outbreak of the Amalgamated Association.
 It is believed that one reason for the move on the part of the United States Steel Corporation was the strike trouble, at that time only a possibility. It was contended then that If the combine se- cured the majority of Southern industries the Amalgamated Association would have a much harder task to tie up all the mills
 Would Be Gigantic Deal.
 A perusal of the statements of the two concerns gives an idea as to the magni- tude of the rumored deal. No official in- formation is obtainable as to the finances of the United States Steel Corporation, but from unofficial deductions 1t is presumed that the company has issued In round figures
 Bonds ............ ........ $500, 100000
 Common stock .......... 300, O00,0OO
 Preferred stock .... .... 5OO,OOO,OOO
 Total .... .... ...... $1 300, 100000
 This makes the entire capitalization about S1 300, ,OO0, 900 with $50 900 preferred and $5O,000,000 common authorized and available in addition. This capital was issued to represent purchases of the se- curities of the constituent companies.
 The Steel corporation Is mainly a pro- prietary company and owns little manu- featuring property In its own name. The company's revenue comes mainly In the shape of interest and dividends. The constituent companies declare dividends to the proprietary company and the pro- prietary company distributes these to It's own stockholders.
 In June last 1t was estimated that the profits of the company were at the rate of over $100, 1000 per annum.
 Tennessee Compays Standing.
 The capitalization of the Tennessee Coal, Iron and Railroad company at the present time Is as follows:
 Common stock ....................$2 .$22, ,553. .0b0 Preferred stock .................... 24S,300 bOnoB ............ .......-... IU,lI5,UUU
 These bonds of its constituent con,pn nies at the present time draw from to per cent interest. The new $15, ,tc0, ,00O uI bonds are issued at per cent. About $100O0,000 of the new bond issue will be used to refund the old bonds outstanding
 The remaining s5,0OO,0o0 will be used for improvements and additions. It is calculated that the refunding will effect an annual saving in interest charges of about $100,000.