The Birmingham age-herald., 1904-12-05
ALA. CONSOLIDATED
 HAS 10000 TONS
PRESIDENT BUSH REPORTS TO BOARD OF DIRECTORS SHOW ING THE COMPANY TO BE IN A STRONG CONDITION.

At the annual meeting of the directors of the Alabama Consolidated Coal and Iron company held in Baltimore a few days ago President T. G. Bush made his report in detail on the operations of the company for the past year. He said:
 ''The affairs of the company are in a prosperous condition, particularly con- sidering the depressed period attending the iron business, which practically cover ed the past fiscal year of this company, the price of iron during that period having run more dangerously near the cost of production than probably at any time in the past history of the iron trade"
 Among the interesting features of the report which will be published later in condensed form for the benefit of the stockholders, is the statement showing the growth of the company from its or ganization. to the present time, covering period of five years. For the first year, ended October 31, 1900, the output of iron was 67.034 tons, the output of coal 206 496 tons, and the output of coke 72,- 67S tons. Each of these items shows a gradual increase from year to year as the properties were being developed and improvements made until the present year, ended October S1, 1904, showed ar output of iron of 195,61O tons, an output oi coal of 5SO106 tons, and an output oi coke of 2S4, ,O96 tons.
 'The record of the first six months oi the fiscal year shows" said Col Bush that had not the interruption occurred by the strike of the miners, the outpu of iron would have been 10000 tons ol more, the output of coal eO0,0OO tons. anc the output of coke 27O,OOO tons. The out put of coke was produced with the com pany having about 100 coke ovens idl, during the year.
 Another interesting feature of the re port is that in the sales of iron, coal an, coke, amounting to $2.270.000, there wa not dollar lost on bad accounts Tn report as to earnings shows that for tn five years, including the unproftable yea which has just passed, the net earning '1Ac %i5Dfoi1of.oNt WHICH WAS SQInclenf C pay per cent on the preferred stock am leave an average of more than per cen on the common stock. It Is a well-knowi
 fact that this company has paid regu larly per cent dividend on it's pre- ferred stock from the organization of tn
 company. the twentieth quarterly divi dend having been recently declared an paid on the 1st instant
 "The position as to the sales of iro
 of this company is strong, inasmuch a | 1t carried during the depressed period
 very large stock of Iron rather than t
 sell it at the prices which ruled 70 low 1 This stock amounted to more than 5000 tons on November 1, and the compan now has fully 10000 tons of iron subjec
 to sale and delivery between now an | January 1. 1905. It also has a fair per 1 centage of orders on its books for tn | first quarter of 1905 at the present rulln
 prices. which are very profitable Thi makes the prospects of the company | from a financial standpoint, interestin
 and promising, if the present market pric | of iron is to be maintained for any req l sonable length of time. It Is safe to say
 however. that the dull period is matte of the past, and will probably not be ex 'perienced again in the iron business fo several years to come."