The age-herald., 1901-02-08
A BIG DEAL IN
 RED ORE LANDS
Twelve Hundred Acres Near
 GadSden Change Hands
PRICE WAS $1O0 AN ACRE
Bought by the Alabama Consolidated Coal 6 Iron Company, and is Valuable Acquisition-Offi-
 cialIy Confirmed.

The Alabama Consolidated Coal and Iron Company has purchased 1200 acres of iron ore lands near Gadsden, paying therefor about $120,e0 The lands were secured from c. E. Buck. who has operated mines on the property for the past ten or fifteen years.
 The lands acquired by the Consolidated Company by this purchase are situated in Etowah County, near Gadsden, where that company has blast furnace. The com pany has long felt the need of red ore lands, and about a year ago entered into negotiations with Mir. Buck looking to the purchase of the lands owned and operated by him under the name of the Attalla Iron Ore Company. By the acquisition of these properties the Consolidated Company has secured supply of the best red ore in Ala bama that is well nigh inexhaustible and in such close proximity to it's furnaces that the question of freights has almost been eliminated. The furthest of these lands Is only six miles from Gadsden and the nearest about two miles.
 Colonel Bush Talks.
 In speaking of the purchase yesterday Col. T. G. Bush, president of the Alabama Consolidated Coal and Iron Company, said: 'The Alabama Consolidated Coal and Iron Company has purchased of MT. c. E. Buck 1200 acres of red ore lands near Gadsden, for which it paid him considerably more than $100,000 Passing through this land is seam of three feet and upwards of the finest quality of red ore in the State of Alabama, the soft ores analysing over 50 per cent metallic iron and the hardest ores over 40 per cent metallic iron. The hard ores are self-fiuxing and are low in silicon. The seam as far as explored covers stretch of four and a half miles, over one mile of which has been developed and from which ore is now being taken. These mines are in full opera ton now and over 200 tons of ore are being taken from them daily.
 Tn addition to this purchase the Ala bama Consolidated Coal and Iron Com pany has recently purchased valuable ore lands on Shin Bone ridge, near Gadsden which, connected with ore properties al- ready owned by the company, gives us ore deposits running into the millions of tons. While we were we'll supplied with ores, these new purchases fortify us for an un- limited time.
 'The close proximity of these properties to the Gadsden furnace practically elimi- mates the freight question and also gives a low rate to the furnaces at Ironaton and to the Mary Lee furnace in this city,
 An Advantaueous Purchase,
 MT. Buck, who owned the lands bought by the Alabama Consolidated Coal and Iron Company, stated to an Age-Herald reproter last night that the deal was an advantage ous one for the company. He said that he would not have parted with the properties at the sum obtained for them yesterday had not it been for the fact that the deal for ,he sale was first suggested several months ago. Negotiations had been pend- ing for a loGg time, during which the lands had appreciated in value, but the price had to remain at the figures fixed in the be- ginning.
 MT. Buck said the ores on these lands had been analysed by experts and that careful examinations of the property had been made by geologists and mining engineers. Charles Catlett, formerly of the United States Geological Survey, went over the lands some time ago and more recently AL len w. Haskell, mining enginetA of this city, made an examination of the proper ties. Both pronounce the lands as among the most valuable of the mineral lands in Alabama
 Mir. Bueb stated to the reporter that the sale of the Attalla Iron Ore Companys properties would not affect the operating of the Trussvile furnace, which he had purchased, ores for that furnace being ob- tained from the Crudup mines, which he retains.
 The price paid for the lands purchased by the Consolidated Company from MT Buck yesterday was perhaps the highest ever paid in Alabama for a tract of land of that size. It was equivalent to about $l00 an acre. The Citico furnace at Chat tanooga has obtained it's supply of ore from the mines on the above lands for the past ten years