The Birmingham age-herald., 1905-04-11
MIR. MABEN TELLS
 IF MERGER TALK Says That the Merger Was
 Never Really "On" THE BLAIR CONFERENCE When Bankers Offered Only to Ex- change Merger Stock for sloss,
 MT. Maben Counted Himself
 out-Directors Here.
THE BLAIR CONFERENCE

President J. c. Maben of the sloss-shef' field Steel and Iron company returned yes terday morning from New York, where he had been since the latter part or March. He was accompanied to Birmipg- ham by w. H. Goadby and w. D. strong directors in the Sloss-Sheffield company Yesterday afternoon MT. Maben, MT. Goadby and Mir Strong inspected the Sloss furnaces on First avenue and also the furnaces at North Brmingham The visiting directors will inspect some Of the company's coal mines in Jefferson county today and later in the week they VIII visit Russellville, where large ore mines are operated, and Sheffield and Florence where furnaces are in blast. MT Goadby is one of the old directors of the company and is thoroughly 1anli- lar with the company's properties ana rhe company's cost sheets. He comes to Ala bama from time to time and is one or the Birmingham districts staunchest friends and best prophets.
 MT. Strong, too, is thoroughly conversant with every detail of the companys opera tions, and has been over It's physical properties frequently. Both Mir. Goadby and Mir. Strong express themselves as highly pleased with conditions in the dis trict and especially with the physical and financial condition of the Sloss-sheffield company.
 About the Merger. Asked if the merger was off for good and all, MT Maben replied: "The merger
  was never on. There did seem to be some thing in the merger scheme in February, when the men controlling the principal companies of the Birmingham district were assembled in New York. But look ing back over the situation it appears now that the merger talk was all wind.
 'The people controlling the Sloss-Shef- field" continued MT. Maben, never sought the merger promoters but the promoters came to us and asked us for our price. Knowing and fully apprecat- ing the value of our properties we named what we considered a fair price for the common stock of the company-$13 share cash. The price was agreed to but no sale took place.
 "When I went to New York in March to attend our annual meeting my purpose vas to return to Birmingham immediate ly after the meeting adjourned. The mer- ger project was not interesting me in any way whatever. But MT. Hoadley urged mo to remain over for a few days for the purpose of attending a merger con ference at the banking house of Blair & Co. It was said that Blair had agreed to finance the merger and that everything was ready to be pulled off.
 Attended Conference.
 q did attend one conference at Blair & Co.'S, but when a proposition was made to buy Sloss-Sneffield stock with only merger stock offered in payment, l quickly made up my mind that there could be no consolidation so far as our company was concerned. am satisfied to le. well enough alone The executive du- ties of the Sloss- Sheffield company in- terest me very much and I am delighted to be back at my desk once more.'
 MT. Maben was asked who seemed to be in control of the Tennessee Coal, Iron and Railroad company when he left New York.
 "A member of the firm of Blair & Co.,, informed our people," replied MT Maben "that before Mir. Blair would consider the merger proposition, he had to be satisfied that the promoters had the actual con t,ol This gentleman said that MT. Hoad- ley satisfied MT. Blair that he OIoadley) and his associates had majority of the stock.
 And that" said MT Maben," Is all l know about the control of the Tennessee company,
 MT. Strong. who was with MT. Maben when the latter was talking to the Age Herald man, said that while no merger was in sight. he believed the principal companies of the Birmingham district would be consolidated some day.