The Birmingham age-herald., 1905-03-01
INDUSTRIAL NEWS


 Albert Phenis, special representative of the Baltimore Manufacturers Record, says in an intervew in the New Orleans Picayune:
 From such information as I can ob- tain, and looking at published news paper reports in the light of previous knowledge, I am disposed to believe that the so-called Hoadley syndicate will suc- ceed in It's efforts to bring about com bination of the larger coal, iron and steel companies now operating in the Birmingham district.
 Joseph II. Hoadley is well qualified by previous experience to carry out such plans. His organization of the Ameri- can Locomotive company Is an indica- tion of his ability in this line. Within thirty years half a dozen attempts have been made to bring about a combination of the locomotive works of this country. all without any degree of success A few years ago MT Hoadley took the matter up and in a. short time succeeded in bringing all of the important loco motive works of the United States and Canada, with one exception, into the American Locomotive company. It has a capitalization of s50.000,000, twenty-five million each of common and preferred stock. and Is one of the conspicuous in- dustrial successes of recent times
 'Hoadiey is president of the Interna- tional Power company. a holding com pany which he organized at the time he consolidated the Green and Wheelock Engine Works and took over the Amer ican and British Manufacturing company. International Power owns a majority of the stock of the American Locomotive company also and MT. Hoadley, through his ownership of International Power and American Locomotive stock, is by far the largest owner of the American Locomotive securities.
 MT. Hoadley, through hls engine, To- comotive and machinery companies, Is very large user of iron and steel. happen to know that for a number of months past he has been making very careful study of southern conditions particularly In their relation to iron and steel. coal and coke production, and the south's advantages as a center for the manufacture of iron and steel products
 international Power. some weeks ago, secured the ownership of the Alabama Consolidated Coal and Iron company The president of the Sloss-Sheffield Coal 
 ley has acquired a controlling interest in that company. The report of stock sales shows exclusively that the owner ship of the Tennessee Coal, Iron and Railroad company has been bought by the Hoadley interests in the open market and 1t Is a well known fact that the Re. public Iron and Steel company has fol some time been willing to dispose of 1t: southern holdings, in order that 1t may aat~ to oil of ftC of ond gies on it's larger interests in the north Rational commentators in New York admit that by stopping threatened corner, and controlling the market IT these southern iron securities. Mir. Hoad ley has demonstrated ample financial re sources for carrying out the plans h' has announced. which are to bring about a consolidation of all the important iron coal and coke companies h the Alabama district. I think he will succeed.
 'I am strongly of the opinion that tho whole object of this consolidation move ment is the legitimate development on { broad basis of the iron and steel inter ests of Alabama. I believe it was in spired by a knowledge of the enormou. growth in the worlds consumption o iron and a realization of the vastly in creasing importance of the southern iror fields in this connection. It was realized that a cOnSOliudllOil sucli ds lutsr put ting into the hands of one organizator large properties with great wealth-creat ing possibilities, would be one of tht most important industrial movement. that could be undertaken today.
 "Mr. Hoadley is a very rich man. bu also a young and exceedingly active one He is also man of marvellous insigh and boundless enthusiasm. It is easily conceivable to me that. realizing the al most unlimited possibilities for the devel opment of coal iron and steel interests in Alabama, where nature has made i' possible to produce iron and steel cheaper than in any other part of the world. Mir Hoadiey sees an opportunity for carry ing out plans of the most ambitious scope for m achievement such as i' rarely within tho rench of any leader and that 1t has become an absorbing am hition with him to lead this movement tho greatest of its kind over undertaken in the south. and one of tho Ereatest ir tho oountry-to development such as the south has never known
 The Chattanooga News says;
 The preliminary work for the erection of the new Chattanooga furnace bcRar today. The new plant will take tho place of the old, dismantled one situated neay the southern base of Gamer. hiii. and will represent an expenditure ef eioo.coo The work will be under the supervision of new company which was formed