The Montgomery advertiser., 1907-01-08
HOADLEYN GADSDEN
IS PLEASED WITH
 HIS PROPERTIES.
He Says Alabama Minerals are Not In- exhaustible and Declares that Cotton Win Bring
 1S Ceuta.

Gadhden, Jan. 7.--(Special. )--Pres- ident Joseph H. Hoadley. of the Ala bama Consolidated Coal and Iron Com pany. accompanied by Vice President General Manager Morris W. Bush. reached Gadsden last night and today made an inspection of the big furnace and mines of the company in this dis trict.
 Together with Superintendent T. G Bush. IT,. the party repaired to tho furnaces at an early hour this morn inspection of the big stacks and mines Nos. and ?, near the city. This af- ternoon the officials went to Attalla where they looked over the ore mines there. after which they left for An- niston over the evening Louisville and Nashville train. where they spent to- night Tomorrow the party will go to Ironaton to inspect the furnaces there. after which President Hoadley will re- turn to Birmingham. In few days he will leave the district for Missouri and the West. where he has extensive mineral investments.
 At IF o'clock today a number of prominent local citizens were invited to meet Mir. Hoadley by M W. Bush at his home on Sixth Avenue Those who availed themselves of this oppor- tunity were Capt. W. P. Lay, s. E. Jordan. R. A. Mitchell, J. R. McMullen and w. P. Hofferbert. Although this is his first visit to this section, Pres ident Hoadley proved to be thoroughly conversant with situations and prob lems of the South. and talked of sub- Jects not only affecting the entire South. but ones especially affecting the Gadsden district.
 He said that he was agreeably sur prised at the location. natural resources and fine physical conditions of the con- solidated properties in Gadsden.
 There Is no doubt that the local properties of the company will be ma teriaily extended" he said.
 He did not refer to the future pol icy of the company and did not dis cuss any extensions in detail.
 Continuing. Mr. Hoadley said: T have looked over the furnaces and mines of my company in Gadsden and md the former to. be the equal if not the superior of any have seen in the entire country. I am very much pleas ed with the engineering and construc- ton work of the local management.
 The consolidated has one stack in blast here and another in course of construction, both of which will be of the most modern type and of large daily capacity. The engineering and constructive work was all done under the supervision of M. W. Bush, while he was superintendent of the local properties and the remarks of Presi- dent Hoadley are exceedingly compli- mentary to the ability of this young man. who is now next in authority to the president.
 apny, the Coosa River seemed to im- press MT. Headley more than anything else.
 The Coosa River should be opened for navigation to the Gulf" he said. "and one of the best means of impress sing this fact upon the government au- thorities is to encourage the location stream. The demand for power once developed. money can be found in any quantity to finance such projects Then. too, the government recognizes that the next big ship building 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 a big fac- tor in locating the plant at the latter place. This ship building plant, in my opinion, will be constructed within the next few years, or at any rate by the completion of the Penama Canal"
 Tn speaking of the mineral resources of the South, MT. Hoadley says that the idea that such resources are mex
 
 every ton of iron ore in the ground is now worth fifty cents while the price Is only around ten cents, and that in ten years pig iron will be $50 per ton in the open market. Tn spite of the iron and steel resources of the South how ever. MT. eHadIey says that the cot ton crop Is the real factor in the pros perity of the South and the entire oOun- try. The value of the export cotton Is now three timos the value of the 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 be completely rev. olutionized and greatly improved. A gin compress will take the place or the several separate plants now in use for preparing the crop for market
 "In twenty years" he said, ''the South will be producing 4O,0oo.00o bales of cotton and every pound of this cot ton will bring 15 cents"