The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-02-22
MERGERRE.P0Rl.. | | l \
SENDS ]. | PR!CyP. 4. |
Advance arded as Further Ter
roof Tha lars I: Are
out Comp plete.
POSITION NEssEE 1. ';l:| GO.
"A
R1ulrnlored i'm lat CO ! olnfr l Il 81 81 Has
3 cen Secured bys Big
3iss Syndicat i|3
Syndicat te.
------ . -7-';l

(specta i; to, The Times -Dlspat tch.)
NEW ny DIRK, Feb. q. The further
sharp I'd dVances q In. tbs common sst ock Of
the sloss- She field Steel and IRON Com-
pany to-day was accepted by Wall Street
as proof that the plans for rSconso lidating
sthef Southern iron compantes es are h com
pleted. +. X Last night the stock clos ed u at
Isl Is I'd opened to-day Al 81 sand up#to
2:3Otthis afternoon had sold as high as 81,
a maximum gain OF over 20 points since
last III ght. s 4. 81 sS.
i46S These * figures would seen1% Ito Ind tc
also that the price asked for a controlling
interest IN the company Is "a t least ca round
the present figures Whiefitsis not possi-
bic to getsFa official statemen + on his
point, st would not be surprising II the
figure was well above par. l35
~ 1T is understood also that there are two
propositions under consideration with re-
tspect 10 the Republic Iron and Steel Cons
pany. One is to take over the a labama
properties. which there Is reaso on for be-
.lleying Is practically closed ~ the other
8is5S to 4 take over the Western proper ties
rs well which It Is underst ood has n not
reached an altogether definite stage as
yet. 1T Is known, however, that several
Of the dominant interests In the Republic
Company are In favor of the consolida-
ton schem t5s sS
ssts The Tennessee Coal and Iron directors
held their regular monthly meeting to-
day. In addition to the transaction
of routine business the directors dis
cussed the much heralded scheme for the
merger or bination OF e the several
Southern steel and iron companies and
finally authorized the following state
5ment: si siSl y i3 f II ' I.
SSS;$3,HyYhereas, the daily newspapers con-
ttinue TO report that this company has a
representative negotiating for its 3nmal-
gamation with other Sou uthern iron CONS
panies, we deem It wise Mt this time TO
place on record that no such Ions
have been authorized by the board OF
directors, and that none of Its officers are
aware OF such rotations. 7ics5
i5 The 1 Hloss-She Steel md Iron in
terests were In conference with Mr., Hoad-
ley this afternoon. and the details OF. tho
proposed passing OF control of the COM
Spany were discussed. NJ &
5 1t was reported this afternoon In Wall
Street that5the control of tho Tennessee
Coal ana Iron Company had been pur-
chased by a. syndicate, and that negotia-
Sttonsy for a merger had been conducted3by
Sthis.syndleatei and not by the directors
st Joseph \ II, Il Hondley, Of this city. who
was Ssa Id to he interested In the syndicate
formed to purchase the Tennessee Coal
and Iron stock, made the, tlrst statement
to-day: n It,l 5 Il + n.
"a syndl lcate has already been formed
to combine5the Southern iron companies,
and if the caucuses now being held be-
tween representa- Of tho different
companies result satisfactorily the bank
Ing firms Will finance the deal" l
e Mr. Hoadley declined to give the names
banking houses. " g8 F s