The Birmingham age-herald., 1905-12-21
SLOSS MAY YET bE
 IN CONSOLIDATION Considerable SIosS Stock Owned
 by Merger People SOME LARGE EARNINGS
Sloss-SheffieId Co.'s Total Surplus Now Amounts to More Than $3,0o0,oO0. The enn.-RepubIic Syndicate
 Is Making Extensive Plans.
BY SEWALL HAGGARD.

New York, December 20.-(Special)-If any further proof has been needed that eventually there would be merger of the Tennessee Coal, Iron & Railroad company and the Republic Iron & Steel company and that it would also include the Sheffield Steel & Iron company it was furnished today when it became known that the Republic interests had acquired enough Sloss- Sheffield stock to entitle them to representation on the board
 It was also learned that although the merger may not come immediately the change of control of Tennessee Coal & Iron. means the spending of a lot of money to improve the property of the company in the Birmingham district when the Tennessee company is merged with the Republic company. It Is said that stock of the former will be taken over on the basis of one share for two in collater- al trust bonds. Should the latter be quoted as worth S0 then the price paid for the stock of the Tennessee Coal & Iron stock would be 16o.
 Facts in regard to the earnings of the Republic Iron & Steel company, are be- ing given out. It is said that they are now at the rate of $4,O00.0o0 It was fur ther said in a semi official way that the earnings for November were nearly sS30,- OO0 and that there is every indication that they will be fully as large for the present month provided the weather is not severe enough to interfere with oper- ations.
 It was said that the executive commit tee of the Republic Iron & Steel company is now engaged in formulating plans bearing on a merger of the Tennessee company, with the former corporation. If the present plans. as now understood arc carried out, holding company will be formed for the purpose of taking over the southern properties of both corpora tions and a selling agency will handle their products
 The story that the steel trust will ulti- mately gobble up the southern steel and iron properties gains credence. In con nection with this, a report that the one vacancy on the Tennessee Coal & Iron board will be filled by H. c. Prick was looked upon as significant.
 c. S. Guthrie denied that MT. Prick was A. member of the syndicate which had bought control, but MT. Tricks associate, s. L. Shoonmaker, is actively identified with the new control. When asked as to the report that the steel trust was be- hind the buying of Tennessee stock. Judge Gray said that he had heard noth- ing of anything of the kind having taken place.
 Tennessee was not in much demand to- day. enough stock having been secured by the new party in control to accom- plsh it's purposes. The price was allow ed to drop from IA to 40 by early In the afternoon. This caught some margined accounts which had been bought around 145.
 Republic was also in less demand now that the best is known. The rule to sell on good news was being generally fol- lowed today by traders in the stocks named The stock closed a 140h.
 Preliminary figures of earnings of the Sloss- Sheffield Steel & Iron company for the year ended November 30 last. show that net profits were s1.606.5l6. an increase of ss960S0.
 Charges, taxes and dividends did not increase and ss1O,516 was added to the sur plus. The total surplus nov amounts ts g. .129, 4s&