The Birmingham age-herald., 1902-09-20
NEW PURCHASERS
 HAVE BIG PLANS
Details of Sale ot the Sheffield
 Furnaces
GATES ORGANIZED THE co.
Purchaser ls the Blast Furnace Syn dicate of Which William Eden- born Is chairman-6ought
 Property in Virginia.

The Iron Age of this week contains the following account of the recent sale of the Tennessee. Coal Iron and Railroad company's Sheffield furnaces to William Edenborn and associates and the plans of the new organization:
 The sale of the furnace property at Sheffield, Ala, and of the Russellville ore mines of the Sheffield Coal, Iron and Steel company. owned by the Tennessee Coal, Iron and Railroad company, has been ratified by the board of directors of the latter company. The purchasers are the Blast Furnace syndicate, of which William Edenborn is chairman. This company, who have a capital of g, 800. 900 of common stock, subscribed by a num- Der of capitalists among whom are Will liam Edenborn of New York, I. L. Ell wood of Chicago Alfred Clifford of St Louis, James Gayley and w. R. Walker of New York, Thomas Dolan of Philadel- pa, Charles Allis and William J. chal- mers of the Allls-Chalmers company of Chicago. H. Belmer of the Belmer Ma chine company of Cincinnati. G. H. Tim AlCA Aiidfai Ol tlit oA. lAOhi0 iAOiA anu AitN- chine Works of St Louis. Herman sielck- en sf Crossman & Co.,. New York and others.
 Organized by Gates.
 This organization has grown out of the United States Iron company, organized some years since by John w. Gates, Isaac L. Elwood and William Edfnborp. to acesire a number of ore properties in Tennessee. Some time since MT. Gates parted with his interests to MT, Eden- born and is no longer identified with the concern. The property includes mines at West Point, the Smith mines near Law renceburg Tenn, and mines Tn the Rus sellville district. The United States Iron company developed the mines, put up three washers to handle the brown hem atite and shipped ore largely to the fur naces at Sheffield, Ala. The question arose, in the further development of the property, whether 1t would be expedient to erect blast furnaces. It was finally de- cided to acquire the three Sheffield fur naces One of these has been in con stant operation for some time. It was blown out for repairs in August but has just been relighted The blowing power being il adequate to operate the other two, there have just been purchased two large blowing engines suppianted by the sellers by more modern and more power full engines These will be erected at once, and since the lining for the second stack is on the premises it is probable that the second stack may be started without delay.
 Virulnia Purchase.
 The blast furnace syndicate have also purchased from General Ayres of Big Stone Gap, Va, the property of the Stone Gap Colliery company, located in the Stonega district. This comprises over 60OO acres of coal lands, and also the Wise Terminal company line of road about six miles long from Norton, Va, to the mines near Wise courthouse. Norton is the junction point of the Louisville and Nash ville and the Norfolk and Western rail- roads, so that the company can ship over the former to Sheffield. or can reach the markets served by the Norfolk and Vest ern railroad. The Stone Gap Colliery com pany had practically completed the open ing ot the property. There will be built at once sG0 coke ovens to supply the shef- field plant with fuel from these mines.
 The new company having now acquired these different elements toward rounding out their operations will probably be known as the Sheffield Coal and Iron company. Ths organization so fac as the election cf officers is concerned, has not