New-York tribune., 1905-02-05
Rig COAL AND IRON DEAL.
Transfer of Stock of the alabama
Consolidated Company Completed.
[Br rrLnaRAru TO TIE rRrBUNE.l ]


Baltimore. Feb. 4-The delivery IN New-York last
night os 10000 additional shares OF the stock of
the Alabama Consolidated Coal ard Iron Company
30 NeN-York interests, who were already heavy
owners in the company, completes the most I'M
portant transaction made in the coal ana iron IN
terests OF the South for some years.
The Alabama Consolidated Coal ard Iron Com
pany the control OF which since its ore sanizatlon
has been held in Baltimore, although the late
Abram S. Hewitt and General Samuel Thomas Of
Nev-York. both directors in the company
I'D TO tbs time OF their deaths, IS OF the most
important coal and iron companies OF the South.
II is now mining 10000 tons OF coal year.
which viii be rapidly increased TO an annual out-
put az 100000 more; is making between 2So'V"
10000 CT coke, and is operating three 1ur-
nsces WIN a total capacity of about 10000 10
1s5eco tons OF pig iron With practically an un-
limited supply Of raw material owning nearly
20 m Of the richest coal territory OF Alabama
an6 with iron Gre and limestone in equal aoun-
dance. the company is in a position. when de-
sired TO increase its production just as rapidly as
now mines can be opened or new furnaces oullt
Plans are under way looking TO the turning OF
much of its pig iron INTO the finished product'
and these plans when consummated will have q
very far reaching effect upon the industf1a4 oe-
yeiopment OF the South, marking one Of the most
important periods in the material upbmlding o,
the vast coal and iron interests OF Alabama Die
tatng the price OF pig iron for this country. and
at times of depression debating tho price of pig
iron for the world Alabama is now commanding
before the attention OF the foremost
hnaaciers and iron and steel men OF the world
Alabama is already producing nearly one-haf as
much pig iron as the United States produced IN
1850. and the development in that State promises
10 far more than equal the amazing progress which
has been made in Pennsylvania IN the last quarter
of q century. What has been done IN Pittsburg in
the last fifteen twenty years in the creation
OF the vast steel interests OF that city and the
development OF its almost unbounded wealth is
10 fa 80 loha
fact. the purchase by New-York people of the
Alabama Consolidated Coal and Iron Company as
The hrst move in some far reaching plans has been
consummated.
The directors of the company will be T c. Bush
OF Birmingham president; Erskine Hewitt who
succeeds his father the late Abram S. Hewitt:
D. G Boissevain OF Boissevain & Co.. bankers. OF
New-York: Joseph II. Hoadley Of New-Yorl1. who
Company. and IS now president of the George II.
Harris Corliss Engine Works OF Providence, the
controls the Greene-Wheeiock Engine Works Of
Works of Bridgeport, building rapid fire guns ard
projectilss for this and other governIaents. The
Nev-fork Richard II Edmon3s. president Of
Ine NanGIacturerS, KecorG Pu5:shiHg CON-
Baltimore; w. NJ HoaglaIG Of New-Tork, and
i. X. Hill of Providence. TIE officers OF the com
pany VIII be T. G. Bush. who has oeen president
since its organisation. and % whose ability and
been DUE Joseph H Hoadiey vice-president: VIZ NJ
Hoagland. secretary and treasurer aud Richard
II. Ednonds. chairman OF the executive committee
The letter on Birmingham published in The Trb-
uile last week, quoting the late Abram 5. Hewitt
predicting that Alabama would dominate the basic
steel industry of the world. makes this
important one the beginning CT great
Development in the South. Abran 6. Hewitt was
orc OF the original directors and Il member of
the executive committee of this company. and is
quoted as having said TO some friends OF his that.
considering the intrinsic value OF its
sources, he regarded its capitalization being
on 4 lower basis than that of any other iron
Solidation with which he acquainted. The
company is capitalized at $4,000 OF common
stock, N.20.0oo Of preferred stock and 100000 of
bonds. and since its organization years
ago. has proved phe2omeEally successful. Us
wealth OF coal ard and all raw materials which
enter into the making Of iron and steel. owning,
il does. more than sixty thousand Of land.
panies in the country.