The age-herald., 1902-02-09

shows that since May 1, 1899, the com pany invested s. 618 6l0.19 in entirely new construction.
 Ore and Coke Supply.
 When this company was organized, on May Il, 1899, their ore supply for Bes- semer mixture, by the acquisition of ore mines, consisted of 2500.0o0 tons Since that date .the company has acquired, by contracts extending over a period of years, by fee, and favorable leases H. 5OO,oOO tons additional, making total supply of more than 14,000,000 tons, or sufficient for the requirements of our northern blast furnaces for q period of 2S years.
 We have a sufficient acreage of Con- nellsviIe colSing coal to supply our north ern blast furnaces for period of 20 years. This supply of ore and coke places the company in a strong position to pro- duce Bessemer and forge pig iron at the lowest possible cost.
 Birmingham District.
 'In Alabama the company owns 7OO0O,- 900 tons of ore and 5O,0O00OO tons of coal, mostly in fee, together with ample quan- titles of limestone, all within a switching distance of three blast furnaces at Thomas, Ala, which have a daily ca pacity of $50 tons of basic foundry and forge pig iron. This ore, coke and lime stone will cover the requirements of double the present capacity for more than fifty years. The company produces all of it's own coke, ore and limestone re- quirements in this district. and with three modern blast furnaces, one entirely new, the others completely remodeled since they were acquired by the company, pig iron in this district will be continuously produced at the lowest possible cost. ''The pig iron capacity of the Northern furnaces is 1000 tons per day and of the Southern furnaces $50 tons per day, or CO., 900 tons per annum.
 ''The company has recently acquired tract of 1900 acres of Pittsburg coal, which insures an ample supply Of steam coal for the valley district for forty years. ''The foregoing statement of facts will suffice to convince that we own sufficient raw material to cover steady produc- tion of pig iron for conversion at our Bessemer steel plant and rolling mills for many years to come and into finished material at most favorably costs.
 ''The following is safe estimate of the value of the raw material in the ground now owned by this company: 100000 tons Lake Superior ore,
 at 50 cents per ton .............s 7,OOo,OOO 6,0O0.O0O tons Connellsvile coking
 coal, at 25 cents per ton. n........ 1,50O,OOO 12, 500,000 tons Pittsburgh steam
 coal. at 10 cents per ton ........ 1,25O,OOO 50000,0OO tons Alabama coking
 coal at 10 cents per ton ........ 100000 50, ,000, 900 tons Alabama red ore at
 10 cents per ton ................ 12OOo, 900 20.0 900 tons Alabama brown ore
 at 10 cents per ton ...... ...... 12 000,OO0
 
 
 The operations of our plants were ma terially interfered with, during the last three months of the year. by reason of the inability of railroads to handle ma terial We are pleased to state that this condition is very considerably improved.
 The Balance Sheet.
 MT. Thompson reproduces the balance sheet of December 31, which showed cash on hand s94s s.S13. .5S. and total assets of $52, ,364, ,444. .64.
 The profit and loss sheet is as follows: For the six months ending December 31, 1901.
 Profits from the business of the
 company after deducting all expenses, excepting repairs
 and renewals .. ............ $1, ,419, ,549. .SS Less amount charged during
 the six months to operating,
 expended for Improvements.
 renewals and repairs taS
 against $566,622 .54 during the
 previous 12 months) .. ....... 4S6. .426. 42 Net profits during the six
 months !. :. :. ............s 9Ss 12s. .4e | Deduct, two quarterly divi- dends. Nos and 10, of 1% per cent each on the preferred stock outstanding, paid on October l, 1901, and January 2, 1902 :. .. :. ..................... n1.s1s 50 Surplus for the six months in excess of dividends on prefer red stock ~. :. ...............s 22l.5os ss Surplus on the books on June 30, 1901 :. u. .................. 1.los ss5. .ss Surplus on the books on De-
 cember 31, 1901 .............. .$1 .331 172. .64 Mir. Thompson gave out his totals to Birmingham friends when he was here two or three weeks ago. He was very bouyant over Republic results.