The age-herald., 1901-01-12

they cared nothing about the University lands in the beginning and had only taken them because I had urged it. How they had bought the intervening lands and made a contract with the Southern Railway Company agreeing to furnish certain ton mage in compensation for the building or a branch track eight miles in length; that they did not want the people of Alabama to think that they were party to any questionable transaction, and so prejudice them in all their public dealings; and that 1hey were forced now into a long, veXauous ard expesive litigation with the university of Alabama for their investments and en- gagements with the Southern Railroad were such that they could only give up the, lands after making every defense known to the law.
 I certainly thought when the trustees met and had their land commissioner be- fore them, with his maps and reports oh the value of these lands, and they had au- thorized and directed the Governor to con- vey the property, that the matter was lawfully and finally settled. The deed was not made for a long time after that meet ing All the trustees knew what had been done and not single one, as l am advised, ever sugge sted that the sale should not De made. The only pretense that this solemn act of the board should be set aside is that the wrong man had called the members to- gether, or there was not notice of the
  regulations. They did meet and consider and act, and had a month or more to re- fleet before any money was paid, and not a member questioned the legality of the act or the propriety of the sale.
 Another fact is that after careful ex- animation of the lands the Sloss-Shefield Company desired to take not exceeding 2040 acres; the balance was condemned as being worthless to that company either from having no coal on it or as too remote from proposed transportation for use in many years. The option taken August 29, 1899, covered only 2600 acres. This was 54o acres more than the company cared to ac- qure, but the Governor and the board forced it to take all the land the uniyer- sity had in certain townships, amounting to 44S0 acres, on the ground, as l was ad- vised that the purchaser should take the bad as we'll as the good. So the company did take more than twice as much land as 1t really desired MT McCaley In ms re- port, says that about half the land con tained neither the Pratt nor the American seam, the only seam desired, fully verify ing the company's expert in his previous reports
 It was charged that the Sloss-Sheffield Company paid more for the land than the university got for it. This is absolutely untrue 1 know that the company never paid cent to any one for any lands except the amount named in the option and deed.
 1 present these facts in my individual ca pacity, without desire to shield any one from responsibility, asking only what l conceive to be plain justice to myself. While I am first vice president of the board of directors of the Sloss- Sheffield Steel and Iron Company, and your favorable ac- tion would no doubt help that corporation 1 come unofficialy, without their knowl- edge or authority without having talked to a single director of this company or it's attorney, and caring not whether it bene- fits or hurts any person whomsoeVer. am simply asking this honorable body to take that action which think is just to me and the proper thing for them to do know nothing to the discredit of any gentleman in all these transactions. I am pers onally cognizant of every detail in regard to the negotiations for and purchase of this land from beginning to end, excepting only such as took place before this board. If any member of the board suspects that there was any wrong done or contemplated, any unfair or improper conduct upon the part of any one, and desires to know the truth, am here now, ready and willing to be put under oath and answer any questions you may ask in regard to any fact not al ready fully disclosed in this paper, and to 2 tell all that know without regard to who it may benefit or injure.
 Now, gentlemen of the board, the lands
 
 valuable as has been represented to you, and I assert most positively they are not as valuable my own lands thatI sold at a less price The newspapers pubrshed that at your last meeting, Prof. Mccall ley appeared before your board and made a special and detailed report these lands It was stated that Dr. Smith had been requested by the Governor several weeks before the meeting to make a thorough examination of these lands as to their value, etc The Governor stated that Prof. McCalley Cr Smiths assistant, had made most of une examinations, and then Prof McCaney stated substantially that the university lands were not as good as mine. I got s10 for mine and the undversi- ty got $12.50 for it's lands. The statement that I was using the university land to sell mine when mine was the best, Is as unrea ble as it Is untrue. Mir. Mccall ley also stated that the price obtained for these lands was their fair market value. That settles a great many falsehoods that have been uttered about this transaction. I challenge you now to produce single well-posted operator or deale,- in coal lands in Alabama who will not testify under oath that the price obtained was a fair and full one, and could not be obtained today for the same lands. They are no more valua- be than the seven thousand acres of lands in the same locality that have since been purchased at the same price, l allege and can prove that you receive more for your lands in proportion to their value than was received by any other owner for any coal lands ever purchased by the Soss- Sheffield Company
 As to the policy of leasing instead of sell ing, all that l can say is, that my experi- ence in leasing coal lands, and have dealt in them more extensively perhaps than any individual in Alabama, with perhaps the exception of Mir B. M. Long, is that leases are not satisfactory. It is only one time in a thousand that there is money in these leases. and the lease by my la mented friend, Colonel Hargrove, to MT. Aldrich is that one That is a valuable lease, and the only one of importance that I know of in Alabama. I have made some half dozen leases of coal lands, and I had to take the lands back and cancel the leases. There has never been time other than in the summer ard fall of 1S99 during the boom, that these lands could have been sold for that price. Your lands, scattered as they were, with no chance to body them up with other lands not valuable