The age-herald., 1901-04-05
MR. BACON TALKS ON THE SITUATION Says the Iron Trade Is Highly
 Encouraging PROPOSED CONSOLIDAT TON Declares That There Is Nothing In 1t as Far as He Is Concerned.
 The Rumors Con-
 tinue.
PROPOSED CONSOLIDATION

Chairman Don H. Bacon of the Tennes- see Coal, Iron and Railroad Company has given out an interview in New York in which he speaks most hopefully of the outlook for continued good business for the iron companies in the south, and espe- cially in the Birmingham district. He makes some interesting statements with regard to the Ensley steel mill and the rail mill now building in connection with 1t.
 With reference to the rumored. consoli- dation of the Tennessee Company, the Sloss-Sheffield Steel and Iron Company and the Alabama Consolidated Coal and Iron Company, MT. Bacon says the sub ject has not been discussed by the direc- tors and that there is no probability of an immediate consolidation of those com- panies. In the interview, which, is pub lished in the New York Times of Wednes- day, MT. Bacon says:
 Generally, the trade conditions are healthful apd prosperous. l believe 1t to be true that every manufacturer of iron is able to find a ready market for all of his products and at good prices, while the outlook Is that this present excellent state of affairs will continue.
 Sharing in the Prosperity.
 "As for our own company, We are shar- ing in this general prosperity. When our new mill at Ensley is completed we will be able not only to make billets and slabs, but also rails, small rods and bars, angles, sheet tin bars, and the like. This will not only enlarge our capacity, but It will mean that we will be using about 1000 tons daily of our own pig iron which formerly was disposed of in the open market.
 "The making of rails out of open-hearth steel is in this country more or less of an experiment though it Is not new in the older countries. With the exception of a few such rails made for the Pennsylvania Railroad Company by the Carnegie Com pany, there is none of that kind in use here. However, we expect to make suc- cess of this The advantage of open hearth steel rails is expected to be in durability.
 III ToldliOu tO tCpoi IS III WhANhA fAAA' ~~AAN other Southern companies are mentioned as likely to be consolidated, I may say that the matter has in no wise been con- sidered by or presented to us. under stand there has been some general talk, but that is all that know. We are sat isfied as we are, for we think we have a good property. And. except for the usual competition in the sale of pig iron, the other Southern companies do not in any way affect us."
 Other Views.
 With regard to the proposed consolida- rion of the Birmingham companies the Times says:
 Wall street believes that there impends a plan for the combination of all the Southern iron properties under the lead ership of Tennessee Coal and Iron, and that as soon as the combination gets in concrete shape 1t will be put into the steel trust. One report, indeed, has It that the Tennessee Coal and Iron Com pany has an opportunity to go into the trust independently, but that it's mana cement believes 1t to be the better policy to have its entrance into the trust at tended by other properties.
 Charles Steele said yesterday that he knew nothing about these rumors.
 Evidence appears of something excep- tional under way in the affairs of the important iron making properties of the South. None of them have gone into the new United States Steel Corporation so far but there are indications that at least two of hem may be so absorbed; but preliminary to this arrangement 1t seems to have been determined that the Tennessee Coal and the Sloss-Sheffield companies shall themselves come into close relations, even if they do not act ually merge.
 Many Reports.
 Wall street hears many reports touch ing plans involved in this project-one having it that the Ten nessee Coal and Iron property is able to show earnings which warrant its being taken into the great combine on basis materially above it's present market quo- tations.
 Tn this possibility-it is regarded semi officially as a probability-there is much that Is of helpful consequence to the South With the iron and steel trade of the country finally consolidated prac- tically under a single management there Will be opportunities for Southern natural advantages that have never hitherto ben open. Pittsburg no longer has need to choke Birmingham; Alabama and Tennessee have now chances on a parity with Pennsylvania and the Northwest. Narrow competitive policies make way for fair play-and fair play is all that the iron making South ever asked"
 Locally 1t is impossible to learn any thing definite concerning the proposed consolidation. Whatever trades or deals may be made will be consummated in New York where nearly all of the stock of both the Tennessee and the Sloss- Sheffield companies is held. Birmingham officials of the companies decline to dis cuss the matter. claiming that they have no knowledge of any impending combina- ttox o- oopoolilo fionc