The age-herald., 1901-04-02

The deal by which the Tennessee Coal, Iron and Railroad Company becomes the purchaser and owner of the Sloss-Shef- field Steel and Iron Company is in a con- properties will form at an early date to be operated by the Tennessee company pany. Thus the Tennessee company will become one of the greatest iron and steel producing companies of America.
 Rumor yesterday had 1t that the con solidation was to be between the Ten" nessee, the sloss and the Republic com paries, but investigation both in New York and Birmingham develop the fact Company will not be part of the con solidation.
 It is said that the Tennessee Company will issue additional securities in the shape of both bonds and stock for the purchase of the Sloss-Sheffield Steel and Iron Companys properties.
 Negotiations About Concluded.
 Negotiations for the deal have been in progress in New York for the past sev- eral weeks and telegram from that city yesterday stated that the deal was in condition to be closed in a very short time. There are many matters in con- nection with the transfer of the proper ties which will take several weeks or a few months to finally consummate.
 There have been stories to the effect that John D. Rockefeller who Is said to have recently acquired large interest in the Tennessee Company, was the instiga- tor of the combination. This Is, however, denied, and New York authority Is to the effect that the deal was simply a business transaction; that the owners of the Sloss Company wanted to sell and the owners of the Tennessee Company wanted to buy. The Tennessee Company look upon 1t as a good business investment and therefore they are prepared to make it.
 An Era of Prosperity.
 During the past several months the Tennessee Company has been wonderfully prosperous There has been a splendid market for both steel and iron. The iron market has been steadily advancing; so has the steel market. Steel billets which were selling a few weeks ago at sN per ton have been contracted for during the past week at from s23 to s25 per ton, and the ruling price yesterday was $25 per ton.
 At.. ID -Ixlt xxt1l finally become a part of the Tennessee Company remains to be seen. The Repub- lie Company's properties are scattered. Only a small portion of its holdings are in the Birmingham district, and 1t is said that the Republic Company will not con- sent to sell its holdings here, Thus only the future can tell whether the Republic Company will become part of the Ten nessee Company or will eventually go into the United States Steel Corporation
 To Be Operated as Heretofore.
 It is said that the Tennessee Company, with it's new properties, will be operated as heretofore. At present there Is no prospect of its becoming a part of the United States Steel Corporation.
 President Baxter of the Tennessee Com pany and President Hopkins of the Sloss- Sheffield Company were seen yesterday by Herald reporters. and both de- clined to be interviewed on the subject, ar to give official denial or confirmation of the rumors
 Tbo-e were others howev"r. irt"~eStea in the respective companies, who had been in communication with New York, and who had no hesitancy in expressing the opinion that the proposed consolida- tion was in form to be finally closed at an early date.
 What 1t Means.
 The consolidation of the Tennessee and Sloss- Sheffield companies would bring un-