The Birmingham age-herald., 1905-02-24
PRESIDENT BUSH TALKS OF MERCER VIII RedOuRd to the Welfare
 of Alabama $3O,OOO,OOO TOB INVESTED Consolidation of Southern Properties Is Most Important Since Forma-
 ton of the United States
 Steel Corporation.
$3O,OOO,OOO 10 BE INVESTED

l Kew York, February 3.-(Special) )-The Tribune today says: T. G. Bush of Bir- mingham, president of the Alabama Con- solldated Coal and Iron company and the Shelby Iron company one of the fore most business men of the south and long intimately identified with its railroad and iron interests. is now in New York in | connection with the proposed eonsolida- tion of the iron and coal interests of l Alabama. In an interview today MT. Bush said: Nothing could be done that would insure more to the iron interests as a whole in this country and of Alabama particularly than the bringing together in one harmonious organization of the chief iron and coal properties in Alabama. All thoughtful business men concede the fact that this is a day for large oper- ations and perfect organization in order to secure economical D: 1duction and the most satisfactory results to the investors of capital as well as to the consuming public, by establishing stability of prices It Is well understood that in Alabama, as in other mineral districts of the country a great deal of pioneer work had to be done, and it has naturally taken long | time to establish thorougl confidence In the investing public, which is only in recent years beginning to realize the enormous possibilitieG of the Alabama | field.
 Immense Mineral Resources. i Some conception can be had of the mineral resources of Alabama, when it is understood that there is owned by the companies which are proposed to be merged into one common interest. an aggregate of 3,000,00 000000 tons of coal of provable workable seams, and soc, ,000 900 tons of proven workable ore This Is 100,- 000,000 tons of ore more than the total ore supply claimed by the United States Steel corporation, and the coal supply is many times as great as that owned by | the steel corporation.
 | Tt has been recognized for many years that the fullest utilization of this vast mineral wealth could not be brought about until a consolidation of the various iron companies could be effected, in order to prevent unnecessary wasteful competition. | But, because only in that manner could sufficient capital, running far into the mill | lions, be secured to bring about a develop ment fully commensurate with the re- sources. Birmingham just now is some what in the stage of iron and steel de- velopment which Pittsburg went through year or two before the organization of the United States Steel corporation. com bining the vast iron interests of that sec- tion, provided capital for the development on far broader scale than had been pos 1 sible before.
 Materials Close Together.
 Though it is true that the percentage of iron In the ores of Alabama is some | 11er. i,, .of &l, TaIro C.. perior district, this is far more than off, set by the fact that the Lake Superior ores have to be hauled thousand miles ! to Pittsburg, and the coke transported a | considerable distance, while the Alabama coal iron and limestone are in sight of each other and the furnaces. The situa- tion heretofore in the efforts made to bring about consolidation of the iron l interests was very much like that which for some years prevented combination of the locomotive interests of the coun- try; namely. the inability of the various companies to get together on a satisfac- tory basis.
 "It was not until after Joseph II. Hoadley after others had failed to &C., complish a combination of the locomotive interests, purchased outright one plant after another that it was possible to bring these into one company, and then 1t was that MT. Hoadley organized the Ameri- can Locomotive company. The result Of such consolidation as that brought about by Mir Hoadley, both in industrial and railroad interests, proved conclusyely that a consolidation of the iron interests in Alabama could best be effected in the same way: that is, by the purchase out right of the various properties desired Therefore this plan adopted by MT. Hoad- I ley and his associates to insure success is | the one which commends itself, not only to every thoughtful business man, but to | the strong banking interests of this city. Not New Idea.
 | "The importance and the value of con- soidating the iron interests of Alabama | into one organization is not new | thought with me. or with others, and while I, together with some others. have | made some efforts in the past which did not attain success, l never gave up hope