The Birmingham age-herald., 1909-02-21
BOLT WORKS ID BE GREATLY ENLARGED New Owner Discusses Plans for
 the Future WILL ERECT NEW BUILDING Graham Nut Company, Which Acquires Local Plant, Is the Largest Con-
 sumer of Steel Bars In
 the Country.
WILL ERECT NEW BUILDlNC {

After negotiations lasting four months, Charles J. and H. c. Graham, secretary and treasurer, respectively, of the Gra- ham Nut company of Pittsburg, acquired yesterday afternoon the controlling in- terest of the American Bolt company, To- cated at East Birmingham, from W. H. and Charles H. Merritt of this city, who retire from the firm.
 A controlling interest in the property is said to have been acquired for approxi- mately $125000.
 The officers of the new company will be Charles J. Graham of Pittsburg, pres ident;; Harry C. Graham of Pittsburg, vice president and treasurer; John ]. Wirth of Birmingham. president; Charles W. Gray of Pittsburg, assistant treasurer.
 President Graham In speaking of the new enterprise stated last night at the Hilman:
 Tt is the intention of the new manage ment of the American Bolt company to bring the plant up to it's highest state of efficiency and greatly enlarge it's pacity. Considerable improvements will be made, of course, one feature being the construction of new building. But there will be no cessation of operation The plant will not close down for single day, and we will increase the business and production until about 200 men are given employment.
 While the American Bolt company and the Pittsburg Nut company Will be two fbair irfa xxfill be so closely interwoven that they will be of great benefit to each other At the present time the Pittsburg Nut company is the greatest consumer of steel bars In the world, and as the use of steel bars will be increased by the American Bolt company, the completion of negotiations yesterday means considerable business for the local steel corporations. The Amer ican Bolt company will eventually swing a much larger volume of business than at the present time and will have greater variety of finished products As is known, it is the only plant of it's kind south of the Ohio manufacturing hot pressed and cold punched nuts, machine, carriage and heel bolts, lag screws and rivets, washers, spikes, rods track bolts, semi-finished and case hardened nuts and doing special forging of all kinds
 'Birmingham's importance as growing iron and steel center influenced the deal. We have consulted with Gary, Brick Corey and others interested in this sec- ton, and we received encouragement from them and advice. We realize the im- portance of Birmingham, and are certain of it's future. We believe that the dig ging of the Panama canal will have a great deal to do with booming the south ern states, and especially Alabama, with its unlimited amount of coal and iron.
 MT. Graham stated that he would not move to Birmingham, but would be in time. During his absence Mr. Wirth will have charge.
 In speaking of the business of the coun- try, MT Graham said: For several months last fall there was a noticeable improvement. However, the slump came In January and lasted three weeks Since then things have broken even. Of course, the present agitation of the steel situ- ation will hurt, as all agitations hurt but the chances are good that prosperity will eventually come'
 W. H. Merritt who retired from the American Bolt company Will still reside in the city, although he has not announced his plans.