The Birmingham age-herald., 1910-11-01
Says Something Definite Can Probably Be Given Out
 Within Two Weeks
BOWRON WILL REMAIN
 AS ACTING PRESIDENT
London Banker Says Americans Need Not Be Worried About Cotton Busi- ness and English Will Meet
 Them Half Way


 terday Cecil Grenfell of London, the prominent Southern Iron and Steel com pany director said that James Bowron is now acting president of the company and that no one would be placed over him as president of the Southern Iron and Steel.
 In addition to this statement. MT Gren- fell said the consolidation of independent local companies, which has been so ac- lively rumored for the past 10 days, was being worked out, and that, if possible the Southern Iron and Steel company would be consolidated with other com panies. He stated that Ladenburg, Thal- man & Co.,. the prominent New York financiers, were the bankers for the con- solidation plan and were now prepared to handle the entire situation should all details culminate as is hoped by several interests He said it was desirable that the Southern Iron and Steel company af- fiiate with companies having a great amount Of good ore and coal adjacent to the properties at Gadsden and this was the prime motive for the efforts of consolidation.
 He was not prepared yesterday to go
 
 Grenfell said enough to warrant the belief that some definite plans are being outlined and he authorized the announce ment that within two weeks Otto Marks of Birmingham, acting for the New Ycrk bankers, would probably make a statement relating to the plans as they will have progressed up to that time. In discussing the probable consolidation MT Grenfell said:
 Basis for the Rumors
 'It is perfectly natural that the peo- pie of Birmingham should want to know something definite about all those ru- mors. And 1t may be said from me that the rumors of consolidation are the outcome of our efforts looking to a consolidation. We may say that the plan is now being discussed and worked upon, but yet we cannot give out any definite data. It matters not how well disposed we may be to inform the public there is nothing more to be said except that Ladenburg, Thalman & Co.,. of New York, are the bankers for the company and will handle the consolda- ton.
 We have a fine steel plant and mill at Gadsden. There are companies in Birmingham who recognize the value of owning an interest in what we have here They are, therefore, satisfied to participate in the plans. We have long recognized the desirabHity of securing more ore and D coal lands adjacent to our present properties. At this time some materials are hauled past our plants to get to Birmingham. You may well see how much better it would be if the finished product could be made at the plant near the source of supply. The Southern Iron and Steel company is the only one here for which I can authorize
 4.. lAx 4A Al,- sol idation. I know we hope to complete the plans of consolidation, but I am not authorized to speak for any other con- cern. They all recognize the importance and magnitude of the transaction and will no doubt investigate it thoroughly before they act
 Cannot Mention Other Companies
 And in regard to other companies any reference that Is made will be merely shots. The past reports mentioning some companies were erroneous, and did some of the companies a probable injustice So 1t is preferable at, this time to withhold any names except the company with which I am connected. Personally hope the consolidation may be effected If it goes through I believe 1t will mean a great deal for the Birmingham dis trict. One may readily understand how valuable 1t would be to have a company here owning several of the present ones with a giant capitalization. I should think within two or three weeks some thing will be ready for action. At that time If matters are, ripe for any com ments the announcement will be made.
 'T will leave for London November 15, but the plans I hope may be ready by that time. If not Birmingham will be advised In due time"
 BowrOn Is Acting President
 In speaking of the vacated presidency of the Southern Iron and Steel com pany, made by the retirement of W. H. Hassinger, Mr. Grenfell said:
 "Oh. I think Mir. Bowron is handling the affairs splendidly. I may say that he is acting president of the company at this time. He Is in full and complete charge My meaning will be clear when I say he is the boss. Everything has been found to be in wonderful shape. The plants are working fine and MT. Bowron is making fine daily show ing.
 Tt may be stated that any decorative titles are worthless where the authority and power are held. MT. Bowron. as far as we know, has every bit of power over the Southern Iron and Steel com pany which is necessary. There will not be placed any man over him in Birming- ham.
 There may come time in the history of the company when president may become necessary. but I think that is far-fetched speculation. Our officers are well satisfied with everything and the outlook is splendid
 District Has Great Future
 Mr. Grenfell is decidedly optimistic over prevailing conditions. He said the Birmingham district is incomparable with any industrial city he had ever vis- tied and that no praise was too great for him to spread of Birmingham He said in speaking of Birmingham that the growth that had characterized the dis trict in the past was to his mind the shuffling off by the child of it's swad- ding clothes only to enter into the es- tate of well-rounded young man. After the youthful and energetic manhood had been past the even greater district would grow up here. He said conservatively, surely and inevitably Birmingham would continue until a goal undreamed of by the present people of the city would be attained by this district.
 The past growth has been so stu pendous as to excite the keenest inter- est When upon investigation 1t Is ob- served how stable Birmingham really is the .nsas,,s more phenomenal than in any like era of BiHningham's history"
 England Will Supply Money Needed
 Mir Grenfell concluded his promised