The Birmingham age-herald., 1907-01-08
HOADLEY'S PARTY
 REACHES GADSDEN
GREATLY IMPRESSED WITH CON- soLIDATED's PROPERTY, AND HE SAYS THE coosA SHOULD BE MANAGEABLE TO THE GULF.

Gadsden, January 7.-(Special) )-Presi- dent Joseph H. Hoadley of the Alabama Consolidated Coal and Iron company, ae- l companied by Vice President Guy H. Johnson of Chattanooga and General Manager Morris W Bush. reached Gads- den last night, and today made an in- speetion of the big furnace and mines of the company in this district.
 Together with Superintendent T. C.. Bush, Jr.. the party repaired to the fur naees at an early hour this morning, and at noon had completed the inspection of the big stacks and mines Nos. 1 and ? near the city.
 This afternoon the officials are in At talla, where they are looking over the ore mines there after which they will leave for Anniston over the evening Louis vile and Nashville train, where they will spend tonight. Tomorrow the party will go to Ironaton to inspect the furnaces there, after which President Hoadley will return to Birmingham. In few days he will leave the district for Missouri and the west, where he has extensive mineral Investments
 At r o'clock today number of promi- nent local citizens were invited out to meet Mr Hoadley by M. ". Bush at his home on Sixth street, those who availed themselves of this opportunity being Capt, w. P. Lay, S. E. Jordan, R. A. Mitchell, J. R. McMu1len and w P. Hofferbert. | Although this is his first visit to this section. President Hoadley proved to be thoroughly conversant with situations and problems in the south, and talked of subjects not only affecting the entire south. but especially affecting the Gads- den district.
 He stated that he was agreeably sur prised at the fine location, natural re- sources and fine physical conditions Of the Consolidated properties in Gadsden, and said
 "There is no doubt but what the local properties of the company will be ma terially extended"
 Further than this admission he did not refer to the future policy of the com pany, and did not discuss any extensions l in detail Continuing, Mir Hoadley said:
 q have looked over the furnaces and mines of my company in Gadsden and find the former to be the equal, 1T not the superior of any l have seen In the | entire country. | dil very IlhNu piSc9SN with the engineering and construction work of the local management"
 The Consolidated has one stack In blast here and another in course of construc- tion both of which will be of the most modern type and of large daily capacity. 1 The engineering and construction work was all done under the supervision of M 1 w. Bush while he was superintendent or the local properties, and the remarks Of | President Hoadley are exceedingly com | plimentary to the ability of this young l man, who is now next in authority to the president.
 Next to the properties of the company, the Coosa river seemed to impress Mr. l Hoadley more than anything else
 '.The Coosa river should be opened for navigation to the gulf" he said, and one of the best means of impressing this tact on the government authorities Is to en- courage the location of water power pro- | jects along the stream. The demand Tor | power once developed, money can be 1 found in any quantity to finance such pro- | jects.
 'tThen, too, the government recognizes that the next big shipbuilding plant to be built in this country will be placed on the gulf, probably at New Orleans or Mobile and the opening of the Coosa and Warrior rivers would be big factor Tn locating the plant at the latter place. This 1 shipbuilding plant, in my opinion, will bo constructed within the next few years, | or at any rate by the completion of the l Panama canal"
 | In speaking of the mineral resources of | the south, Mr Noadley says that the idea 1 that such resources are inexhaustible IS wrong one. He thinks that every ton Of iron ore in the ground is now worth 90 | cents, while the price is only around 10 | cents, and that in ten years pig iron Will bring $50 per ton in the open market. In spite of the iron and steel resources of the south, however, MT. Hoadley says that the cotton crop Is the real factor In | the prosperity of the south and the en- tire counry. The value of the export cot ton is now three times the value of tho iron and steel export. Three years ago the cotton crop was the means of averting one of the worst panics this country has ever had MT. Hoadley says that within the next few years the raising of cotton and it's packing and marketing will De completely revolutionized, and greatly im- proved A gin compress will take the place of the several separate plants now In use for preparing the crop for market.
 Tn twenty years" he said, "the south will be producing 40.O0O00o bales of cot ton and every pound of this cotton VIII l hrinp 1h cents.N