The Birmingham age-herald., 1905-12-29
|S SLOSS COMPANY
 ID BE IN MERCER?
J. H. HoadIey Again Active in
 Merger Scheme
SL0SS MEN INDEPENDENT
MT. Maben Says the Controlling Peo- pie In His Company Have Not Been Approached-Not
 Eager to Sell Out.

Now that the Tennessee Coal, Iron and Railroad company and the Republic Iron and Steel company are practically one, under the direction of John W. Gates, the question of absorbing interest in iron corporation circles in Birmingham is, will the Sioss-Sheffield properties be acquired the district?
 With regard to the Sheffield said President J. c. Maben, when asked if his concern would be merged, T can only say that the men who control our company have not yet been approached, and it is a well known fact that a control cannot be acquired unless certain large stockholders are induced to sell. Our people are not eager to make a sale On and are well satisfied"
 MT Maben spent several days in New York last week and there heard much merger talk but little to indicate that
 
 a proposition to the Sloss-Sheffield peo- pie.
 It is known however, that J. H. HoaG- ley is making an effort to merge the Sloss- s-Sheffield, the Alabama Consolidated and the Southern Steel company the lat ter controlled by the Schulers MT Hoad- ley Is said to be busly aengaged now on such d scheme. It is said to be his pur- pose to consolidate the three concerns named with a view of operating the prop critics independently of the Republc-Ten- nessee combine. But some persons are inclined to think that Hoadley is simply an agent of the Gates syndicate, while MT. Hoadleys friends insist that he is at work on his own account.
 Asked what he knew of Hoadley's plans, MT. Maben said last night that he had no definite information. All l know" said MT. Maben, lis that the men in control of Sloss have not been approached"
 Logical Scheme.
 man formerly connected with the Sloss gave it as his opinion that as the logical thing for the Tennessee Republic interests to do would be to acquire the sloss-Sheffield they would proceed to buy a control of the latter company He pointed out that the Sheffield was too important a concern to be left out. Early in the year when MT. Hoadley sought ito merge the Tennessee, the Sloss- Sheffield the Alabama Consolidated and other companies in the district he offer ed the men in control of the Sloss $125 share for the common and $40 for the preferred. These prices the Sloss people were ready to accept. In fact these were the prices they fixed and the prices MT. Hoadley Is said to have agreed to pay. But the deal fell through.
 It is thought that any syndicate desir- ing to control the Sloss can buy now at the figures formerly named-s125 for the common and $40 for the preferred.
 When MT. Maben was in New York he asked one of the prominent directors of the United Steel Corporation if the steel trust was seeking through the Republic syndicate to enter the Birmingham dis trict. The reply was prompt and decisive. "Our corporation has never for a mo- ment thought of acquiring control of the Birmingham plants. The companies oper ating in the Birmingham district doubtless have valuable properties, but as the Uni ted States Steel has it's hands more than full, 1t cannot take up any new proposi- tions9
 The Iron Market
 In speaking of the iron market, Mir Maben said sales were being made at Y450 on a No. ? basis. The market is always quiet during the holiday season, but consumers are clamorous for delivery which is slow on account of car short age.
 The outlook for next years business is exceedingly bright. The railroad com panies are placing large orders for equip ment and there is every promise that pig iron will be in brisk demand at high prices early in the new year. An active buying movement is expected between now and February.