Evening star., 1901-08-24

STEEL TRUSTS RIVAL
iisssN nj
Biggest Industry West of the Missis-
sippi River.
COLORADO FUEL AND IRON COMPANY
It Employs 5000 Men Of Thirty
Different NationaIities.
ITS CHAIN OF PLANTS
DLORADo FUEL AND IRON COMPANY
CHAIN OF PLANTS
Special Correspondents Of The Evening Star.

opeciai correspondence of The Evening star
DENVER, Col, August 21, 1901.
There are few live Americans who do not
taken an interest in the buying and selling
OF stocks Gamblers, investors and oper-
ators may form in numbers a comparative
~ small percentage of the population of
the country, but even those who do not
participate in stock transactions nowadays
watch the market for the news. for it's in
dications as to the condition of the coun-
try. for it's effect upon their own business,
and sometimes to figure the profits or loss
es they would have made had they really
been in the game
With all this widespread interest in the
dclngs on change, there are thousands
whose pulse responds to the rise and fall
of prices who have no definite idea of the
meaning Of the magic abbreviations by
which are designated the various enter
prises whose securities are tossed about so
freely.
II Atchison'' goes off ten points some
bcdy has Won or lost. If steel is on the
decline wise people shake their heads. In
a general way the public knows that
'Atchison" represents a great railroad cor
pcration. that "steeI' means the trust.
what such properties are really worth,
why they should be worth millions more
or less today than they were yesterday, is
not the concern of the stock speculator.
intrinsic values mean nothing to him, it is
the artificial value governed by general
conditions, rumors, the health of owner,
or some other temporary influence.
High up on the list of stocks posted in
every brokers' Office, and in the columns
OF every newspaper, stand &c. F. and l"
IN the fluctuations of this stock during the
past two or three years fortunes have
been made and fortunes lost. Men have
bought and sold it in thousands of shares,
making or losing, the case might be, with
no idea Of what this legend really stood for
except that in general way it meant Col
orado Fuel and Iron" AS to where this
corporation was, where it operated, what
IT dld not warrant these great transactions,
mas been no concern of the gambling pub
llc The fluctuations in G. F.. and /. stock
nave been violent. 1t has never had
strong supporting influence behind it. A
majority OF the stock has been held by
men VINO We're practical business men and
mad confidence in their property, but who
were In no way concerned with the stock
market. c. F. and I. therefore has been
a root ball, constantly on the move and
perpetual source of surprises. In 1893 the
stock was as low as 16 cents on the dollar.
Within three months past it has been 122;
today 1t hovers between so and 100, as the
influence of general market conditions may
decree. E ~
Owninss OF the Company.
The Colorado Fuel and Iron Company is
the greatest industry west of the Missis-
II
which will bring in time to the entire
country clearer idea of what it represents
than now prevails. 1t Is not trust, nor is
it one Of those intangible corporations
which operate giant plants worth millions
or dollars, yet have no property of their
own This company now owns and con-
trolls nearly 100000 acres of coal land and
1900 acres of iron ore. With it's great steel
works at Pueblo, Colo, it is making q
second Pittsburg of that city. It employs
1900 men, representing, with their fam
lies, one-tenth of the population Of Colo
rado. The income of this company last
year was $4,000, 600, and it's expenditures
trif1e over $4,000, 900. 1t takes over $780,
600 every month to satisfy the demands of
the pay roll.
Commencing at Sunrise, Wyo., its prop
critics form chain 1900 miles long to
Fierro, N. M. The links of this chain are
twenty-eight coal mines, nine coking plants
with $500 ovens, and at Pueblo, Colo, and
Laramie, Wyo., the only steel plants be-
tween the Mississippi river and the Pacific
coast In addition to these industrial con-
Germs the company owns $4,000 acres OF
grazing land and about 1900 Of the town
lots in the city Of Pueblo. In addition to
furnishing a vast tonnage for several
transcontinental railroads the company
operates 100 miles of railroad of it's own.
From its coal mines the c.. F. and l.
marketed last year over 100000 tons. Of
coal, or 20 per cent of the entire production
in Colorado. This year 1t will mine 1000 900
tons. Last year it produced 100000 bushels
of coke, or 95 per cent of the product of
the state, and hundreds of new coke ovens
are now in process of construction. From
it's steel mills 72S,0O0 tons were marketed,
and orders were refused for over 25o.OOO
tons more.
The c. F. and l. Company has grown to
what it is with capital Of So, 100000. 1t
has recently increased this capitalization to
$4,000, 600 by the issue of $15, 600, 900 in
per cent bonds, with like issue of COM
mon stock to redeem them on demand.
This $15,0OO 600 is to be spent at Pueblo
enlarging the steel plant to capacity of
1900 600 tons of finished product each year.
The new manufactures are to be tin plate
sheets, wire nails and other profitable pro-
ducts of like character. These new mills
will, it is estimated, increase the value Of
the output Of the company by 200 per cent.
On a conservative estimate the physical
plant of the c. F. and l. Company is cstf-
mated to be worth $25,0O0. 900 at the present
day, and the s1500O,000 to be realized
is yet to be expended on construction.
No AmIiation with Steel Trust.
This company is not affiliated in any way
with the steel trust, and is protected from
it in it's operations by thousand miles of
rail haul on every side. The oriental trade
is already cutting some figure in it's re-
ceipts, and great developments are ex-
pected in that direction. The interstate
commerce commission has given Colorado
the benefit Of her geographical situation in
this respect, for it has ruled that the rates
to the Pacific coast need never be more
than rs per cent of the rates from Chicago
to the Pacific coast, and in such a product
as steel the freight rate figures largely in
all bids for contracts.
The future of this great industry so i'm
portant to the west, seems already as.
sured, for last years orders for steel were
refused, owing to limited capacity, which
would have brought the total output to a
million tons. With physical plant equal
in value to it's capitalization, fixed charges
amounting to less than 5000 per year
and ample sinking fund to tide over emer-
gencies, such as strikes. ETC., the enterprise
presents an interesting contrast to the
hugely watered concerns recently organized
east Of the Mississippi.
With a profit Of 81 per ton on its steel
output next year. sthe c. F. and I. Com
pany can pay per cent upon its 3S,OOO,-
600 of common stock.ssOn the same basis
the '.steel trust ntus4 clear s. per ton to
pay the same ratesof Interest. The profits
on steel are nowe4f0 per ton or over, and
at these figures sthea possibilities of this
Colorado plant become bewildering. With
the capacity which will be given by inn
provements now under way, and in a year
Of good business and High prices, the c. F.
and I. Company can figure upon 81, 600 600
profit in its operations, 81, SOC, 600 from its
coal mines and IS. 100000 from its steel