The Birmingham age-herald., 1911-10-07
MERGER PLANS ARE RAPIDLY REACHING COMPLETION STAGE New Financial Forces Are Showing Their Interest
 in Proposition
PLAN AGREED ON AT
 MEETING YESTERDAY
Syndicate Is Formed to Secure Cap ital for Large Extensions to the Steel Plant at
 Gadsden

paItimore. October 6.-t -tSpecial.)-A .neciaI dispatch to the Manufacturers Reeord from New York says;
 "A consolidation of iron and steel and coal interests in Alabama of great magnitude and far reaching importance brin ging into the development or that district great financial forces not here- tofore identified with it, is now rapidly materializing through plans which nave been worked out for the final comple- 4ion of the merger of the Alabama con xolidated Coal and Iron company ana tbe Southern Iron and Steel company.
 The committee which now has this consolidation in hand and which today completed many of the details repre- se,ts some of the strongest institutions in New York, many of whom have never before been identified in any way Wllh inc development of the iron and steel interests of the south. This commlttee' which has finally organized through combination of two committees that have been at work on the matter Tor months. is composed of: Cecil A Gren- fell. chairman: Alexander ]. Hemphill' nresident of the Guaranty Trust com many: John W. Platten, president of the United states Mortgage and Trust com many. Edwin G. Merrill president of tbe Union Trust company; Benjamin Strong. president Bankers Trust com pany; Harry Bronner of Halgarten x Co. bankers II. L. Melville president tbe Canadian Northern railroad; $. H. Voorhees,. general counsel; Samuel Un- termeyer and Albert Rathbone. The depository will be the Bankers Trust company of New York A voting trust for the new securities will be composed of: Cecil A Grenfell, Piny Fisk of Harvey Fisk & Co., Henry L. Melville, rresident of the Canadian Northern railroad; Alexander J. Hemphil, presi- dent of the Guaranty Trust company, and Edwin G. Merrill, president of the Union Trust company.
 "The trust companies represented are among the greatest finincial institu- tions in the United States. Harvey Fisk 6 Sons are bankers of inter national reputation, and their identifi- cation with this combination should prove exceedingly valuable to the south. It Is lkeWlSe Ol very great illppi NoiASN to this section that strong Canadian interests, which have for months been becoming more and more closely identi- fId with southern development are rep resented on this board and will be ac- five factors in working out the plans.
 "Ths committee will call for a de- posit of the securities of the two com Danies and voting trust is to be ere ated in order to make certain the best management and the highest develop ment of these properties. An under writing syndicate is to be formed to provide between s4,500,O00 and s5000,- GOO new capital to make important ex- tensions in the steel plant now oper ating at Gadsden. turning out wire, re- inforced concrete bars and finished products, and to make such other im- provements as may be needed by the plants and to furnish ample working capital.
 s'The consolidation of these two properties is the most important move ment in the development of the iron and steel interest of the south since the purchase of the Tennessee Coal, Iron and Railroad company by the United States Steel corporation. The new company will have a capitalization of about 30,000,00
 'It will own about 75,O00 acres of coal land and 75000 to S0,000 acres of iron ore lands, eight blast furnaces, q