The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-03-31
AGAIN At WORK
On. | Iron. ] MERGER 1 [.
Negotiations Have Reached Point
Of Fixing Valuation Of
Various Properties.
BIG INTERESTS BEHIND II. NJ MOVE MO
Believed Magnitude Of Srran|s;alc sac;
ton Will Astonisll Wall 58
Street-Stoclss Active.

(Spccial to The Times. d. patcn.) ia.. l1s.
NEW, YORK Mar. 30.--The sGuthern
steel ana iron stocks were very strong rom
"a 10 da i. 4 market and showed tendency '
ID continue their upward movement Fol
u lowing al, extensive rise In tennessee
Coal and iron, sloss- Sheffield Steel ana
iron and Republic Iron and Steel shares 't
moved UP sharply. 4,
& 1t was said to-day that there Is reason
\ to say that negotiations toward lhc
Southern merger have gotten as fhrs Us
thc Il arrangement for q committee to iix
Ito valuation OF the various properties
concerned. Tho new corporation Whlc ,
u was formed some time ago was slronsis
,,nderwr,ttcn ana It was reported that
the controlling interest in all Of the prop
critics under considelat ion had nlreadyt
agreed to enter into the proposed merstT$
Of the Southern iron companies win VII !, tne
exception Of those In the Sloss- Sheiiicid
Company and that the Ia ttersWas willing
n to entertain any pro y
Tor Joining In the undcrtaking.
st9 Should the scheme AS at present out
lined be carried through successfully y:
lsia likely that Wall Street will learn with
IS st,rprise OF the actual magnitude OF the
" transa ctiorl. ID q. Reid and the MOO res.
Il the Rock island party, so-called, arc inc
leading spirits In the new c1terprl sc. ne ne
Hanover Bank interest, which controia
Tennessee Coal II are co operating with
thet.l. Blair e. Co.., are ,lnders GOD \ To-
# be Interested. John W. Gates is said to
q: figure insthe negotiations as representing
n the Republic 1rcn and Steel Company.4
whose Alabama properties will probably
Al be taken In. ga g5s l S
Iron Conditions in South.
$ The Southern iron companies have not
"A added appreciably to their surplus stocks
OF big iron this month. On the other
Isl hand demands Of consumers have q RI VII
on surplus stores, except perhaps In the
case OF Sloss- Sheffield, which has accu y
rnlilatcd al slight surplus for the mont al
4 Sales on No pig iron have been made
n as high as 314.25S per ton. but the month
the average baslsSwo be nearer 1870.
III the bright outlook for continued de-
,nand the iron and steel men OF the Birm-5
.3ipgharn field Nsee handsome profits for
j|their respective companies. with pig
iliron costing around $3.50 and selling at
3from s1375 to s1425 there Is a profit
large enough to Justify the ton OF the
Eloss- Sheffield and Tennessee Coal anu
\ Iron directors In declaring dividends on
81 the common stocks OF their respective
I'M companies The best founded objection
Is, hsoweyer,S that each company has
thereby made 1t practicable to spend as
much money for improvements us tho
expansion Of the Southern iron and steel
q trade demands. tx Ri ,sss IN n
For nine months the coke production
%of Alabama has. been severely curta!led
4 by the miners strike. There Is a chance
I that the miners and operators will come
II ito terms in June 4
I AS soon as the Southern iron merger
/ Is consummatcd the present obstacles
y In the way Of peace with tho miners will
he removed. Temporarily much Of the
coke used I'm the Birmingham district is
being sent In from Virginia. President
Il r. G. Bush. OF the Alabama Consolidated.
s. who is also head (! of the Shelby Iron
Company. the principal m aker Of charcoal
~. and pig iron In the South. reports a great
reyIva. in charcoal business. The $ac-
cumulations OF six months have disaD-
" peared. %