The Birmingham age-herald., 1908-07-26
SHEFFIELD ABOUT ID ACQUIRE DIMM|CK PIPE CO, New York Reports Indicate An Important Deal Is In
 Prospect
MABEN EXPECTED BACK
 DURING COMING WEEK
Close Observers Believe Sloss Common Is Being Bought for Interests Which Wish To Acquire
 Control.

President J. c. Maben of the Sloss- Sheffield company is expected to return early this week from New York, where he has been to attend a meeting of the board of directors. The Wall Street Sum mary says:
 J. C. Maben, president of the Sloss- Sheffield Steel and Iron company, who returned from Europe about two weeks ago and who, in the meantime has been in Birmingham, Ala, is back in New York He has brought with him the manuscript for the complete pamphlet report for the last fiscal year, the prep aration and publication of which has been delayed for some months by reason or MT. Mabens absence in Europe in on nection with the serious illness of mem Der of his family The substance of the income account was published some months ago. The report in its entirety will be made public as soon as possible probably within a week.
 MT. Maben says that no proposition has been made to the controlling inter ests in the Sheffield company by representative of the United States Steel corporation, looking to the acquisition or the company by the Steel corporatioa So far as he knows negotiations for such an acquisition are not pending. Some time ago a proposition was made for tie Sloss company to take over the Dlmmlck Pipe company. It is understood that the proposition has not been yet seriously considered by the controlling interests in the Sloss company. The whole matter apparently is being held in abeyance
 Some close observers believe that the Sloss common stock is being bought for the account of interests which wish to acquire control of the company It IS understood that shortly before the close Tuesday, when the stock was quoted at 591hG6O, there wasta demand for all the stock available at the asking price. only 600 shares were put out at that figure. Those who have been watching the trans actions in this stock for some time say that in their judgment the. buying has not been of the ordinary speculative char acter
 Several years ago, when a spectacular operator made a demonstration in Sloss Sheffield common stock, on the claim that it was to be taken over at 125 by group of bankers, inside interests maintained that they would not sell their holdings below that figure. It is understood that they have not changed their opinion in the meantime regarding the intrinsic value of the property.
 While it is understood that the common stock is pretty well scattered, it is known that one prominent New York capitalist is the owner of several thousand shares in his own name.
 The Sloss- Sheffield common stock sold up to 63A Thursday and the preferred was quoted during the past week as high as 99 bid 100 asked. As the Wall Street Summary points out the large buying ''has not been of the ordinary speculative character" That important deals are pending has been believed in financial circles in Birmingham for sev- eral days past, but in the absence of MT Maben no official of the Sloss-Shef- field company here would discuss the matter
 The Dimmick plant to which the Wall Street Summary makes reference. is sit uated at North Birmingham and is one of the largest and most successful from a dividend point of view in the south.