The Birmingham age-herald., 1907-11-07
Richard H Edmunds In Man. ufacturers' Record Tells of
 Importance of Trade
ALABAMA'S DEVELOPMENT
 WILL RECEIVE IMPETUS
Enormous Resources of the State Will Be More Rapidly Developed and Both State and Steel Corpor-
 ation Receive Benefits.

Baltimore, November 6.-(Special.)- )-Re- ferring to the importance to the south of the purchase by the United States Steel corporation of a control of the Ten nessee Coal, Iron and Railroad company, l the Manufacturers Record says
 Two years ago when the control of the Tennessee company passed from the ownership of the people who had domi- mated it for many years to a pool com posed of John w. Gates and his asso- ciates great step forward was made for the development of the iron and steel Interests of Alabama. The new owners immediately commenced to carry out on a large scale plans for an increased output of iron, and the doubling of their steel rail capacity involving an outlay of a good many millions of dollars. lm- portant to the south as was this trans fer of ownership it is of still greater Importance that another step forward has been made and that the Tennessee com- many has now passed into the control of the United States Steel corporation.
 The Manufacturers Record has long claimed that it would be impossible for the Steel corporation to ignore the mar vicious strategic importance of the Ala bama iron district Now that the Steel corporaton has secured control of the Tennessee company the world will be Insured of the development of the ron and steel interests of Alabama on scale commensurate with the natural ad- yantages of that state. Backed by the vast resources in money, brains and energy of the Steel corporatioh the Ala bama district, with it's practically hmit- less resources of coal and iron, ought to leap forward into far more command ing position than ever before in the worlds metallurgical affairs, for good business reasons as well as public policy will compel the Steel corporation to make the most of the advantages of Ala aama for iron and steel production.
 Immense Resources.
 The recent report of President Topping of the Tennessee company placed the <noWn iron ore resources Of that com banv at 70o00O,OOO tons and the coal at 900 GOO tons This is about as much ron ore and several times as much coal IS the Steel corporation owned when IL was organized Here is d wealth Of re- source in raw material needing but the magic wand of ample capital to enable Alabama to take it's rightful place as me of the foremost centers of the world ron and steel production. With the Steei corporation owning these vast properties n Alabama it will be reasonable to ex- ,ect that it will carry forward on much larger scale than the former owners ould possibly do.
 The fullest utilization of this wealth Df raw material and the development If the properties of the Tennessee com )any, through the entrance into the Ala ,ama district of the Steel corporation, Twill unquestionably prove of very great ldvantage to all other iron and coal oroperties in that state. Out of the trials md tribulations which have harassed he whole country, coming in part from he conditions prevailing in th5 street, he south is to be congratulated for that which it was never able to do in fair weather it has accomplished in stormy weather by drawing into the develop nent of it's iron and steel the greatest aggregation of capital and brains in he world in that trade.
 Importance of Deal.
 Great as is the value of this move on he part of the Steel corporation to the outh, it is of even greater importance to he steel corporation itself. It gives to hat company an ownership of coal and ron ore properties. in addition to what has already had, so vast as to tre- nendously strengthen its own strategis ituation and enhance the value of all its ecurities at d cost so trifllng as to be a nere bagatelle as compared with it's in rinsic value The steel corporation trough this purchase nearly doubles It's ownership of ore properties. and more han doubles it's ownership of coal at a ost of not more than about or ,er cent of it's capitalization.
 Economic laws would in time have con- oiled the steel corporation to secure large cal and iron ore interests in Alabama in .rder to hold strong position in the ,redestined center of iron and steel-mak- no but conditions in Wall street have Irought about this situation much sooner han it would otherwise have been ac- omnlished. and at a cost to the steel cor ovation of but trifle as compared with vbat if would doubtless have had to pay ,itbin a few years. The value of every tber good iron and coal property not only Alabama, but in the central south. is tremendously enhanced by this transac-