The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-02-16
INDUSTRIAL NEWS
The New york Commercial says.

The New York Commercial says:
The sloss- Sheffield Steel and Iron &C s
stocks have participated in the general
advance in the minor steel stocks which
has taken place within the past two
or three weeks. During last week alone
the common stock of this company made
a net advance of nearly Sc per share and
the preferred advanced more than 50 per
share The common stock, although It
has never paid dividend, is selling for
twice as much per share as United
States steel common. The preferred is
selling considerably above par.
The last official statement Of earnings
available IS that for the nine months end
ed August 81, 1904 the company's fiscal
year ending November 80 In the nine
months referred to net earnings were
$685., 729 as compared with sl,56791s in the
corresponding period of the previous year.
Although there was a falling off of near
ly two-thirds in the net earnings, the
company not only earned its interest
charges. taxes and preferred dividends.
but carried to surplus account a balance
of S173, 729, or more than 2 per cent on the
common stock The total surplus on Au-
gust 81, 1904, was s2,441.210, or p per cent
on the total outstanding common stock.
The company's accumulated earnings are
equivalent to 4 per cent on the common
stock for eight years and with the cur
rent revival of activity in all branches
of the steel and iron trade, stockholders
of this company have ample warrant for
believing that the day of dividends for
them Is not far distant
The Sloss- Sheffield company was incor-
porated in 1899 1t acquired all the stock
of the Sloss Iron & Steel company of Biz
mingham, and the properties or MAORI
ty OF the stock of a number of furnaces
at Sheffield The properties include seven
blast furnaces, with an annual capacity
of 10000 tons Of pig iron; l4OO coke ovens
with a capacity of 375, 600 tons of coke
yearly, $1,000 acres Of developed coal
lands, and $4,000 acre OF iron ore lands and
| limestone quarries.
The authorized capital stock issue is
| $40, 600 each OF I per cent non-cumu-
! lative preferred and common stock. There
, Is at present outstanding S6,700,0OO OF the
preferred and $7500O00 OF the common
the unissued stock being that portion of
1 the authorized issue which was reserved
for the creation of a steel plant and fol-
other additions and betternients. Inc
| company began paying ltle regular IA PEI
cent dividends on the preferred stock in
April, 1900, and has paid them regularly
since The parent corporation has nc
funded debt, but there are s20OO.GO0 OF
| Sloss Iron and Steel company first mort
| gage per cent debentufes, due in 1917,
and $4,000. coo of the same company's gen
eral mortgage AZ per cent bonds, due in
1915 The entire fixed charge is s2l0,OOO.
! Last years experience illustrates adj
mirably how the company's conservative
capitalization enables it to withstand pc
riodic depressions in the trade without
| embarrassment 1t is reasonable to sup
/ pose that when the common stock Is
placed on a dividend basis 1t will be sc
permanently
| While Col. r. G.. Bush, president of the
Alabama Consolidated, is not prepared te
state definitely when his company VIII
begin to build new blast furnace, it is
believed that ground will be broken during
the present year. Colonel Bush left fol-
New York last Tuesday. Just before
leaving Colonel Bush said that he woulc
probably discuss with his directors the
furnace question, along with good many
other expansion plans, while he was II
New York As to whether the new fur
mace would be built at Gadsden or al
| Lewisburg, in Jefferson county, he would
| not