The Birmingham age-herald., 1911-04-07
BANKERS NAMED ID PLAN MERGER Names of Committee Are
 Made Public WORK OUT DETAILS Coming Rapidly in Proposition To Merge Two of Alabama s Big Industrial
 Concerns

Developments in the merger of the Ala
 hama Consolidated Coal and Iron com-
 pany the Southern Iron and Steel com
 pany and the Lake Borgne Canal com
 pany are arriving with singular rapidity The most recent was the announcement
 yesterday from New York to interests Tn
 Birmingham that the merger committee
 had been named to begin immediately to work out. into a harmonzng whole, the multitudnous details of the proposed or ganzation.
 The committee is composed of Cecil Grenfell of London, chairman of the
 Southern Iron and Steel executive com
 mittee: Henry M. Melville of Montreal,
 banker Charles Hayden of Hayden, Stone company, bankers, Boston; Benjamin Strong, Jr., vice president of the Bank CTS Trust company and Alexander J. HemphilI president of the Guarantee Trust company, both of New York. This committee will proceed at once to get in shape the immediate details Of the new Alabama Consolidated Coal, Iron and Steel company, by which title the two merged interests will be known. The
  tee to proceed with this important work
 was received here with intense interest in industrial circles. The interest was
 increased because of the fact that the two last-named men on the merger com
 mttee-Mr. Strong and MT. Hemphlll- are two of the best-known bankers in New York.
 | MT Strong is vice president of the bank of which H. H. Converse is president. It formerly belonged to the late Edward Henry Hartman, and is now presumably controlled by Judge Robert Lovett for Mrs. Hartman and the Hartman inter- | ests.
 | MT. Strong is said to be a careful stu dent of industrial work and banker of rare ability. MT. Hemphill according to local bankers, Is at the head of one
 of the best institutions in New York city. | The fact that these important inter- ests see logic and possible results in the new consolidation scheme indicates to the | industrial men that J. H. Hoadley and | Cicil Grenfell who have handled the proposition, will succeed in merging two large independent companies. They have been busy for some time mapping out the
 details for this work, and have succeeded to a point where the merger committee
 will now take up their task and solve the problem
 Industrial and financial men in this dis trict are now understood to see In the proposed merger of the two companies a | feasible and logical move. The properties of the two organizations fit perfectly. l Their iron, coal and other necessities cut l into the general scheme of things in such a way as to reduce to an appreciable ex- tent the cost of transportation of raw ma | terials to the finishing mills, thus making it possible to create products cheaper than is now the case. With the two interests
 merged under one head those who know of existing conditions believe creditaple results will be realized.
 It is now stated that $5,o0000o has seen
 subscribed to the already subscribed $3O,-
 O00 900 with which the company will get affairs in shape for work It Is expected
 that MT. Hoadley, Mir. Grenfell and others
 interested will again visit Birmingham soon.