New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-04-27
TENNESSEE. COAL AND IRON REPORT
New Plants to Double the Output.

The annual yeport of the Tennessee Coal, Iron
and Railroad Company shows that, compared
with preceding years. the earnings were favorable.
operating profits being il excess Of 20 per cent on
the volume Of business. This result considering
the almost unlimited tonnage Of the mineral
serves and their great potential value should sug
gest no delay in providing The necessary facilities
% meet income opportunity. Tho executive COM
mitteo, recognizing the inadequacy Of present fac-
ues has authorized substantial expenditures to In
crease the volume Of bHsincss and income. but
further expenditures could be advantageously
maze The financial statement shows the
p2nE to be IN a sound financial condition. with
rent assets Of So 0044SQ in excess OF liabi
ties. Ample provision has been made for al! neces-
sary provisional funds
The mineral reserves of coal and iron contained
IN lands owned, computed by competent authori-
ties are estimated be zoo, tons OF iron ore
and 100000 600 tons of coal Approximately. one
nan OF this coal supply is OF a superior cooking
quality and the iron IS largely Of a self fuxng
character analyzing approximately IS per cent
H'elaIlc iron This ore is well suited TO the
Iacture OF high grade foundry pig iron and the
production Of basic pig for use i'm the manu-
facture OK basic open hearth steel While general
rehabilitation of old equipment has been taken
care or by liberal maintenance. the executive COM
hhltee has realized the necessity OF increased steel
and rail productive capacity. and has authorized
the construction Of modern steel works and rail
mill These extensive improvements are expected
10 double the steel output and rail capacity and
radically reduce the costs OF production The bene-
nus expected from these additions 20 plant will
not be operative until the last half of 1907
The company has changed its method OF account
ing and the following comparative figures are
taken from preceding published reports and the
items classified. so that all periods indicated are
figured on the same accounting basis
5 Sis7ss 50 80 49
Ne, earnings go. s2.75a1ea S24saI4o 1882 Gsl
d ss'i'2' 's5 5 i ' Sc 2 5s s ss:s
p E3iG99d: '@5aa 'iS Ssi 5S3 '9s 3 3se
Balance ............ sl2&ss2 Sio&ass SAL. 2ss
-: .ISss 'o,he, income which in 1876 amounted to
The gross sales for the last three years and store
business, representing twenty-four stores, shows
the following favorable increases:
basines, lGsISis if7assi 80 i5S s si5
/ The physical condition Of the mills in the last
year - been improved by liberal expenditures
/ tn" statement OF working capital shows as fol-
Working capital December ~ 1905 ....... sIsis34o
CREDITS.
Net proajs from operation 1906 .......... 81 Os7 49,
New common stock subscription. ...... 3 sl-i 4a7
MISCELLANEOUS ..-..-... Il $50
Total s7245 s4i
CHARGES
Redemption OF outstanding bonds = 0So
p,tS.-t .--....-.-.- eI052a
/ Rack taxes. extra charges etc no "6o
T rsnT from ': .Dis a"4 p1d s,c
/ ''-S -'---..--'- -...----.-.- 25l SIS
r, Toal CHARGE a I1 ss2s as
% "'"''F capital ......'...'........ SOo4 $50