The Birmingham age-herald., 1903-02-20
INDUSTRIAL NEWS.

Joseph Wharton, the dean of American iron masters, is quoted as saying that the estimate of an output of 2O,OOO,OO tons of pig iron this year within the United States is not extravagant
 The heavy consumption of iron is likely to continue throughout the year, and pro- duction would be much larger at this time, if the supply of fuel was ample There has been some improvement lately in this respect, and the railroads are ex- pected to be able to handle more coke tonnage from this time on, in which case the pig iron output will be increased. Foreign prices are somewhat higher, which seems to check importations.
 The New York Commercial publishes the following dispatch from Pttsburg:
 Frank L. Clark, president Of the Ala bama Tube and Iron company, and for merly a partner in the Clark Bros. mills in Pittsburg, before they were absorbed by the United States Steel corporation, has been here to look after improve ments contemplated by his comro1y in the Alabama field. These are parliy the increase of the company's mineral lands in Shelby county, Alabama, and the erec- ton of additions to the plant now located 1 at Helena, Ala. The main offices of the company are at Birmingham. During his trip north, MT. Clark secured workers from Pittsburg.
 Since the purchase of the old Shelby Rolling mill at Helena by the Pittsburg men, the business has been increased vastly. The mill is an old one, having been started in 1873, and was somewhat enlarged in 1889. In 1901 the Clarks sold out their Pittsburg works to the United States Steel corporation, purchased the southern works, and have since been giv- ing their attention to the development of the iron industry in the south.
 l The Wall Street Journal publishes the 1 following editorial coments on the recent annual report of the president of the Tennessee Coal, Iron and Railroad com pany:
 Tennessee Coal and Iron officials have ] made a gratifying change in the matter of their annual report this year. They print document which is reasonably complete as compared with the most insignificant statement made year ago. l While there is still information to be de- sired with respect to the company's bus mess. no fault need be found with the company this year in the matter of &C., counting.
 The company reported profits for the year after expenses of all kinds. including current repairs, renewals, etc, amount ing to s2,656,746. After deduction of in- terest changes, sinking fund, and depre- citation, the balance left was $l,4S2, s5S, equal to something over per cent on the company's common stock outstanding. The report does not state the amount of money paid for repairs. renewals, etc., | during the year In future reports this might be set forth with advantage. It is always well to know how much has been applied to these purposes, for, while nc standards of comparison exist which are applicable to various companies, compar- isons in the case of an individual com. pany with its own record are always in. teresting and usually valuable. The de, preciaton funds set aside from the profits of the year are intended to cover only the depletion of mineral lands, coke ovens and plant and equipment at the mines The amount set aside for this purpose las year was s4195S6, being about IF per cent on the book value of the lcompany's req estate investments. Apparently the fur mace depreciation is taken care of in op erating expenses proper. Appearances in dicate that the company has made suf
 ficient provision for these purposes dur
 ing the year.
 The company had a surplus over its in terest charges last year of slsS52. .4s5. Ex animation of balance sheets show tha
 City employees have qui
 their. ioba and oona f0 M0rl