The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-08-23
Southern Steel Company to
Acquire Buck Properties
A STRONG COMBINATION
Development at Gadsden and EnsIey
on Broad Llnes---AIl the Plants
Are Practically New-Llst
Of the Properties.


ident. will acquire all the stock of the
two concerns of which e. E. Buck is pres
ident. namely, the Laeey-Buek Iron COM
pany and the Chattanooga Iron and Coal
company.
The details of this merger have been
worked out and agreed to by the various
interests in the deal and 1t remains only
for the stockholders of the Southern Steel
company to go through the formality of
voting to increase the capital at meet
ing called for September l. The company
Is now capitalized at N6OO0,0O0 1t is
proposed to authorize the issuance of So
100000 additional common and several
millions of preferred.
It is understood that only portion of
the increased stock to be authorized will
be issued at present; only so much In
fact as will be needed to pay for the
Buck properties to be acquired and to
carry on development work.
The merger is backed by prominent
New York bankers.
To Make Transfer.
The transfer of the Lacey-Buek stock
and the Chattanooga Iron and Coal COM
pany's stock will be made within few
days, following the meeting, of the South
ern Steel company.
This consolidation is regarded in iron
and steel circles as a matter of very high
Importance. inasmuch as the valuable ore
acquired through the Lacey-Buek COM
pany and the Chattanooga company will
enable the Southern Steel company to ex-
pand its manufacturing business on large
and enduring lines.
Plans for increasing and diversifying
the Southern Steel company's finished
product are practically completed.
The Properties.
Here is a list of the properties of the
three companies about to be merged
Southern Steel company
Steel mill with six open hearth furnaces
at Gadsden.
Blast furnace of $50 tons capacity at
Gadsden.
Nall and wire mill at Ensley.
Coal mines at Virginia in Jefferson
county.
Three hundred coke ovens with more
building at Virginia.
Coal mines at Altoona in Blount county
Ore mines at Porterville on the Alabama
Great Southern railroad
Ore mines al Dirtcellar on the Alabama
Great Southern railroad
Lacey-BuelS Iron company
Blast furnace of $50 capacity at Truss
Vile, in Jefferson county.
Three hundred coke ovens at Trussville
Coal mines at Graves near Birmingham.
New coal mines being opened near
Palos.
Red ore mines at Crudup.
Brown ore mines at oremount, in Polk
county, Ga, on the Southern railway
Spencer quarry near Boyles, in Jefferson
county.
Chattanooga Iron and Coal company
Blast furnace of 200 tons capacity at
Chattanooga.
Coal mines at Dunlap Tenn, on the
Nashville, Chattanooga and st. Louis rail-
road. sixty miles from Chattanooga.
Fifty coke ovens with more building at
Dunlap.
Estelle red ore mines on the Chat
tanooga Southern. The ore here Is like
that at Crudup-of exceptionally good
quality.
Brown ore mines at Cedartown. Polk
county, Ga.
All the plants of the three companies
are new and up to date. The steel mill
and blast furnace at Gadsden were built
about two years ago. The steel mill
started with four open hearth furnaces
and two additional furnaces are nearing
completion. This steel plant has been in
most successful operation from the start.
The blast furnace was very recently over
hauled and is now in prime condition.
The nail and wire mill has been re-
built and enlarged since it was damaged
by fire last January.
The Chattanooga furnace is brand new
and Is giving an excellent account of IT.
self every day.
The Trussville furnace has just been
rebuilt and will be ready for the torch
within the next two or three weeks
At the Graves mines a fine quality of
coal is produced and at Dunlap a tract OF
1900 acres is rated as one Of the best
properties In the South. At the latter
mines the present capacity Is now 400 tons
daily. and will be brought up to 1000
tons.
The Virginia mines have capacity of
1900 tons a day.
The Crudup ore mines will be developed
as soon as possible so as to yield an out
put sufficient to supply both the Truss
Vile and the Gadsden furnaces.
The Executive Officials.
e. T. Schiller. president of the Southern
Steel Company, will continue to be pres-
dent after the merger goes into effect.
Mr.. Buck will become vice president and
will be in charge of the blast furnaces and
the mining operations of the Southern
Steel Company.
President Schiller and his brother,
George H. Schiller. who is also active in
the management of the Southern Steel
Companys business, are recognized as
men of exceptional capacity and energy.
They have been among the great upbuild-
ers of mineral Alabama