The age-herald., 1902-03-18
.SLOSS COMPLAINTS
 ANNUAL REPORT It Will be Submitted to the Stockholders Today 1901 YEAR OF PROSPERITY Board of Directors and Set of Officers to B4EIected at the Meet
 Ing In Jersey
 City
1901 YEAR OF PROSPERITY

or the SloSS-SneHlelo steel ana Iron Com pany will be held in Jersey City today President D. O. Hopkins will submit his annual report. This report, which was approved by the board of directors last week, is printed and bound in pamphlet form. On the first page appears this d. rrctory of the companys various offices
 Principal office, In the State of New Jersey No. 24S Washington street, Jersey City.
 General offices, in charge of operations, Birmingham, Ala.
 Registrar of transfers, Guaranty Trust Company, No. 28 Nassau Street. New York City
 Transfer agent Central Trust Company No. 5i Wall street, New York city.
 The stockholders will elect a board of directors for the ensuing twelve months, and the directors will in turn elect the officers.. President Hopkins will be re- elected. His report follows: The Presidents Report. To The Stockholders
 This report covers our second fiscal year. from December 1, 1900, to Novem- Der 30, 1901. As large percentage of the earnings are realized from the manufac- ture and sale of pig Iron, therefore. what ever reduces the output of Iron or raises Its cost is of most material concern. Un- der the caption "Blast Furnaces is given in detail the improvements that have been made. During the time the furnaces were idle and undergoing repairs, we were forced to reduce the outputs of raw materials, thus increasing costs and, in part, explaining the net results as here reported. To more clearly bring to your attention the comparison of prices obtained from iron and because it vital ly affects this years showing, the re- suits are here given:
 Average price realized
 on pig iron .. ........ $l0.5l SlS'f Profit on pig iron ship
 ments i. =. .......... .s311, ,407. .19 s742.S52 19
 The cost of production of iron decreased S5 cents per ton compared with 1900.
 Blast Furnaces.
 In order to improve the physical con- dition of the blast furnaces, those in the Birmingham district were out Of blast during the fiscal year as follows:
 City furnace No. l, out of blast Ill days from July ?.
  from October IA (now undergoing exten- sive repairs).
 North Birmingham furnace No. out of blast 100 days from April 2S.
 North Birmingham furnace No. 4, out of blast 124 days from July 30.
 The repairs were very complete, in- cluding refining throughout with best quality of fire brick; heavy base plates cast iron columns, heavy crucible and tuyere jackets, modern and latest design ed coolers and tuyeres, pure copper blocks for preserving bosh, heavy crinoline bands and hustle pipe reconstructed; also equipped with new and heavier blow stock two stoves erected new through out, twelve remodeled and refined throughout. two chaged from two-pass to four-pass; the addition of one new Aliis- Chalmers blowing engine, overhauling or ten engines, two of these being equipped with 600 horse power heaters of latest de- sign, four new Cameron pumps added and others overhauled; No. furnace equipped at an extra additional cost so that it can produce either basic or foundry iron as desired by the management.
 When No. 2 furnace was blown out and dismantled, it was found that its general condition was so bad that a further ex- penditure on 1t would be a waste of money Therefore, the stack was torn down and is being built new from the ground up. This furnace is being en- larged, its height being increased to B. feet which Is 13 feet higher than the old furnace. This furnace now undergo ing reconstruction will be put in blast on or about May 1, 1902. provided no unfore- seen delay of machinery or constructive material is experienced. It will be equip ped with all modern devices and is de- .s,~ .11 fA reconstructed No. 1 furnace.
 The result of these expenditures are be- ing shown in reduced cost, higher per- centage of foundry iron and particularly in the increased tonnage produced.
 Philadelphia Furnace.
 This furnace was blown in on the first day of January, 1900 after being rapidly overhauled on an old in-wall that had been left in the furnace and which stood exposed to the weather for seven years. Under these conditions 1t was not ex- pected that this furnace would run the usual blast of a reconstructed furnace but it was deemed advisable to blow 1t in as quickly as possible in order to get the benefit of the high price of iron then prevailing. Its physical condition IS such that maximum results can not be obtained and when blown out 1t will be reconstructed on lines sufficiently strong to insure an average daily capacity of from 180 to 200 tons.
 Hattie EnsIey Furnace.
 This furnace was partially completed. as far as the three stoves, stack, erection of new stand pipe and installation of Allis blowing engine were concerned, by the first of October, 1900. but 1t was deemed advisable to add another stove, 500 horse power of boilers, and make sev- eral minor repairs prior to putting on the blast. On this account. the furnace was not sprted until the 17th of July, 1901.
 It has been proven that the construction of all the Sheffield district furnaces was