The Birmingham age-herald., 1902-12-06
INDUSTRIAL NEWS.

The Associated Press dispatch in Fri- days Age-Hera1d quoted the Iron Trade Review as saying that In the south "aH important development Is te consolidate some of the isolated furnaces in the eastern part of Alabama with a view to strengthening them In raw material" That statement was evidently made on the strength of runner published in cer- tain of the southern papers two or three weeks ago. There was absolutely no ground for the rumeF. It probably grew out of the negotiations fer the sale of the Jenifer furnace. Some imaginative person coupled the name of the William son furnace with the Jenifer, and then added the Trussyille furnace, AS s prominent operator remarked several weeks ago. when asked if he had heard the rumeF concerning a movement to consolidate the single furnace plants, re- pliedi i'Nel and furthermore there can be nothing In if. This Is not the time to consolidate. Every furnace, big and little, Is making money, Consultations In this part of the company are effected or st- tempted only In dull times.
 Pennsylvania capitalists are consider ing the purchase of the Jenifer furnace, as was stated in the Age-Herald several days ago. W, IL Weller of Anniston owns a controlling interest in tho prop erty and an Anniston paper of Thurs day said that the sale of the furnace was reported to have taken place. The fact is that while the negotiations are very active 1t will be a day or more before the parties interested will be able to reach an agreement,
 The Jenifer was an old charcoal stack but it was rebuilt as coke furnace and is now said to be one of the best of the smaller class in Alabama. It has ca- pacity of about 150 tons Q day. It Is In Talladega county near the Calhoun line, and is about eight miles from Anniston. The Jenifer company owns ore and coal lands.
 The report of President T. G. Bush of the Alabama Consolidated Coal and Iron company for the year ending October 31, was read to the board of directors at a meeting held in Baltimore this week, It was the third annual report and was applauded as the best that had been sub- mitted. It showed the earnings to be $500. 600 which is 10 per cent on the s5O00 capitalization of the company. The stock is divided in s250O,00O preferred which pays a dividend of per cent and S2,50O,OO0 common. Of the half million earned $175, 900 goes to pay dividends on the preferred. which leaves exactly 13 per cent earned on the common. No dividend will be de- clared this year on the common stock, however.
 The Southern Car and Foundry com rany's charcoal furnace, known as the old Coosa, located at Gadsden, has been doing work since it was rebuilt and en- laIged. It Is now making at the rate of fifty tons a day and will probably do even better later on. It is said there was no truth in the rumor recently printed in one or two papers that the company was about to build a companion stack to the Coosa- According to one of the officers, nothing of the kind has been seriously considered.
 The Wall Street Journal says: Republic Iron and Steel will close the first half of It's fiscal year December 31. and the semi annual report for six months, according to an official, will be issued early in the coming year. It is understood that the results for the half year were quite satis- factory.
 There are rumors that the stock of this company is booked for a rise soon. The preferred stock selling round IT seems to be attractive. It is receiving dividends at the rate of per cent per annum, although it was only a year or so ago that the directors had to resort to the surplus account to pay the pre- ferred dividends. As to. the common stock receiving dividends those best informed say that there is no probability of such a thing taking place In the very near future.