The Birmingham age-herald., 1903-02-17

for diamond drill and other explorations and for abstracts and surveys. S6O'92491; for additions to office furniture account, $45A33. Total expenditure for construc- tion, additions. explorations. etc., S1,S71,- 9f76 This entire sum has been charged off to profit and loss, leaving balance of $413, sos. .05, which has been used to fur ther reduce the inventory value of plant account.
 Balance Sheet.
 Condensed comparative balance sheet, December 31, 1902, compared with Decem- Der 31, 1901:
 Resources-Coal and ore lands and other real estate, December 31, 1902, $26lSl. 6sO.- 66; December 31, 1901, s26 26245,S75.56; de- crease. $1141 S49O Plants and equipment, December 91, 1902 szo94,02S e6; December s1, 1901, $S,012S SOO.12 decrease, $a1S, .46. Investments, December 3l 1902. S296, 799.- 5S; December s1, 1901. ss2, 47O,72; decrease, $95 671 IA Treasury securities, Decem- Der S1, 1902 $615,OOO.OO; December S1, 1901, $S, ,0OO. .OO; increase, SCOT, ,oO0.O0. Cash, De- cember S1, 1902. $277.1212s; December a. 1901, $355, ,s65.37; decrease, $7S,744.09 Bills and accounts receivable, December 31, 1902, $2,O19. .77092; December 31 1901, $1,S26 GA; increase, $193,c43.2S. Inventory of pro- ducts and supplies on hand, December 31. 1 1902 $1, ,312 455.35 December 31, 1901, $1, 3S5, 603. .66; decrease, $73, 14S. 31 Total resources, December 91, 1902. sS7.746, s61 .45; December 31, 1901 s3s 226 743. .07; decrease, $479,Ss1. s2.
 *"Treasury securites'' consist of $37o.- ,fn 1or company bonds; S237,000 Alabama Steel and Ship Building company preferred stock; $S,0O0 Cahaba bonds. Liabilities. Capital stock, common, $22, 552, 800; capi- tai stock, preferred $24S,3 3Oo
 Funded Debt-Bonds of the Tennessee Coal. Iron and Railroad company De- cember S1, 1902. $12.29O5OO; December s1. 1901, SETH soc; less sinking funds Decem- Der 31 1902, s47S,SS3.77, and December 3l. 1901, $.is6 464. .06 net remaining liability December 31, 1902 $11,s11 ,el6.2s; December 21, 1901, s12,1 oS5.94. being a decrease of $373, 419.71. Net reduction of sinking funds Is accounted for by the redemp tion and cancellation of s155,00O Pratt Coal and Iron company bonds by the trus- tee of that issue out of cash in his hands. l Guaranteed Securities of Proprietary | Company-Bonds of Alabama Steel and | Ship Building company. S11Oo,0OO; pre- | ferred stock, $40 900.
 Reserve and provisional funds Decem- Der s1. 1902, s2eS. .9Se .66; December sl. 1901, | $231, ,44S. .49.
 | Current liabilities December 31 1902, $1 s25 2O5 5s; December s1, 1901, s1 46s 15S. .64 making total liabilities December 31, 1902. | $37, 746 s61. 45. and December s1, 1901, s3S 226,743.O7, being a decrease of s479,ss1 .62.
 Working Capital. l In statement of capital in detail, showing resources from all sources and disposition of same. 1t is seen the Tennessee Coal, Iron and Rail- I road company had a balance working capital December 31, 1902. of s2,2S4, Al. .9s, as compared with working capital De- cember S1, 1901, of s2,O9s, ,4ss05 Directors and Officers. 1 Directors of the Tennessee Coal. Iron | and Railroad company:
 l Class I, 1905: Joseph B. Dickson, New York; Walker Percy. Birmingham; James I Henry Smith, New York; Frank S. With 1 erbee, New York; Charles McCrery, Bir- mingham.
 Class II, 1904: Cord Meyer, New York; l S. L. Schoonmaker, New York; Benjamin F. Tracy. New York; James T. wocd- ward, New York.
 Class III. 19O3: Don H. Bacon. New