The Birmingham age-herald., 1905-04-07
INDUSTRIAL NEWS

The Birmingham iron market is firm at $13.5O for No foundry, but 1t has not been quite so active this week as it was throughout March.
 Merger news was scarce here yesterday. President J. C. Maben of the Sloss-Shef- field company, who has been in New York for two weeks, is expected in Bir- mingham Sunday or Monday.
 The New York Commercial of Wednes- day says
 Representatives of the banking inter- ests concerned in the negotiations for a combination of Alabama iron and steel companies denied yesterday that the mat ter had progressed so far as an agree ment on capitalization, as had been re- ported in Wall street One of the bank CTS said:
 Just at this time the whole market is in the air We are considering it. eer- tainly, but it is impossible to forecast even | approximately when the plan can be an nounced, and of course it may come to naught after all. The statements which are being made regarding the amount of 1 capitalization said to have been agreed upon are guess work Nothing can yet be said about any of those details
 President T. G. Bush of the Alabama Consolidated Coal and Iron company, who is in the south was quoted yesterday as expressing his conviction that the pro- posed merger would be carried out in the near future. and that it would include the Tennessee Coal and Iron, Sloss- Sheffield Alabama Consolidated and the southern properties of the Republic Iron and Steel company.
 It was said officially that the coal out put of the Alabama Consolidated for March had been 62 coo tons. the equivalent of nearly 750OOO tons year. and that the capacity of the mines and works would be | steadily increased, according to the plans outliend by President Bush when he was in New York. It was also said that con tracts were being let for the machinery and construction work of the new blast furnace the company will build. including a 0-horse power boiler plant. four blow ing engines hoists. etc. The addition oi the new furnace it is estimated, will in crease the companys yearly capacity fol pig iron production from 1S0,000 to 250OO tons.
 A statement was made to the effect that the controlling interest in the Ala bama Consolidated company, which Joseph H. Hoadey and associates purchased some months ago. was now the property
  that that corporation would therefore bt one of the chief benefciaries of the merg CT. International Power stock has beer somewhat more active on the market this week, and the price has advanced nearly four points, although the market for thu | stock is narrow
 The stocks of all the southern iron anC steel companies declined sharply yester day, and the street came to the conclu sion that Mondays advance had beer based less on substantial progress in thu merger negotiations than on manipulation In this it was declared that the with drawal of stock loaned to shorts played conspicuous part
 Another conference of bankers and di rectors of the companies Is scheduled fo today, but there Is little expectation tha public announcement will follow. The Wall Street Journal says: According to the programme at presen there will be no significant changes mad in the directoratelof the Tennessee Goa and Iron company at the annual meetins [ to be held on May ?.
 The books will close for the meeting ol April 10, and it Is expected that if ther, Is any effort on the part of those whc have been accommodating the stock to in crease their holding. it will be done prioi to the closing of the books
 ! The so-caled Hanover bank crowd i. credited with having ample stock to con trol the annual meeting and what change. are made in the board will be at the in. stance of the present management