The Birmingham age-herald., 1912-05-06
bUEK IS ACTIVE IN CHATTANOOGA LIFE Now in Charge of Extensive
 Operations MANY IMPROVEMENTS
Gives Out Statement Outlining His Plans for Complete Reorganiza- tion of Chattanooga Iron
 and Coal Company

The Chattanooga papers have had columns about MT. Bucks extensive and increasing activities. The Chatta- nooga Times in recent issue had this to say.
 from New York with a message that will make 100000 hearts rejoice in and vicinity.
 "Mr Buck stated to the Times, exelu- sively, that the Chattanooga furnace, which has been idle for the past two or three years, will be blown in at once, and that the limestone quarries at Ironeo, just below the city in Walk CT county, Georgia, and the extensive coal and timber lands near Dunlap, Tenn., will be put in active operation as soon as possible.
 MT. Buck announced that while in New York, where he has been for the past two weeks. complete arrange inents were made for the reorganiza- ton of the Chattanooga Iron and Coal company properties. These properties include the industries mentioned above. In addition to this most pleasing indus trial news, MT. Buck announced that it was possible and probable that bi-prod- net ovens would be erected near Chat tanooga, and this plant alone, he said would mean the expenditure of s750,00o.
 Tn addition to the specific announce- ment of MT. Buck, Alex w. Chambliss, member of the reorganization com inittee of the Chattanooga Iron and Coo1 oo,,napr appounoad tn tha Times last night that the Equitable Trust. company of New York, now the largest and strongest trust company in the United States. with deposits of s10o,- 000, 900, was financing the reorganized 
 Prom the start it means the expend- ing monthly in Chattanooga and vicini- ty of many thousands of dollars. Ii means the employment at high. wages and salaries of an army of men and wo men. It means more to the financial growth and industrial expansion of than any industrial pro- gramme has meant in months, if not in years.
 Bucks Statement
 &,While have other interests which demand q large part of my time, and nave not, therefore, been active in the iron business for the last two or three : ears, I have consented to become ac- tive in the management of these prop 0, ties and to give direction to their improvement and development, and intend to leave nothing undone that money and modern methods will accom- plish to give to the Chattanooga dis 4rio lofa fn la to Ia mt said MT. Buck.
 We will at once make additional openings and extensions at Dunlap so as to double the output of these mines giving us an average of not less than {. thousand tons a day We will com pletely overhaul the Chattanooga blast furnace and add a large. amount of new machinery and equipment, and we will likewise pat the iron ore mines at Es- telle and the stone quarry in Ironco in the best possible condition. These improvements will call for an immc- diate outlay of several hundred thou sand dollars.
 "'Captain John Bowling, who stands at the head of the iron furnace men of the south, will be in charge of ths Chattanooga blast furnace improvment; !; S. F. Evans, who has had large expe-. rience, will be associated with. me and
 
 mines and H. R. Lacey, formerly of the LaceyBuek Iron company, and later of the Southern Iron and Steel company, will also remove to Chattanooga at once and become my active assistant in this work John Smith, who has been the efficient superintendent at Dunlap for some years, continues in charge there.
 "'Some time yet will be required to go through the necessary legal formal ities, including a formal sale under the mortgage of the properties in the pro- cetding which is now pending in the federal court, but an agreement having been arrived at between all the parties this will not delay the work of develop ment. which will be proceeded with immediately, and we hope to have the plant in shape for operation and pre- pared for an output of 225 tons of pig iron day within the next two months. There is every prospect of an advance in he price of pig iron, but whether there is an advance or not this furnace will be so constructed and the opera tions will be so handled that we can make iron at a profit anyway. You will observe that an output of even POD tons day will mean more than $2000 a day or nearly sS00,000 year increase to Chattanooga's manufactured output. This is, of course, exclusive of such coal and ore as we may sell and which viii probably bring the total annual output to s1,000, 900.
 "'There is another feature which do not object to mentioning to you at this time, although 1t is not assured. We contemplate the erection of by-product ovens which would mean the expendi- ture of s750,000 additional but I can not go into details as to this, for the reason, as l have indicated. that the matter is not entirely closed.'"
 Court Orders Issued
 The Chattanooga Times of last Fri day said:
 "Orders were entered by Judge Sam ford in the United States court yester- day afternoon in the case of the Ten- nessee Trust company of America ys. the Chattanooga Iron and Coal com pany ct al, upon motion of attorneys for the complainant, Sizer, Chambliss & ICnambliss, authorizing the receiver to borrow S200.000 on receivers certifi- cates for use In the payment of taxes ano certain other minor claims but chiefly in the making of the extensive improvements at Dunlap mines, Chatta- nooga blast furnace and Estell mines, as outlined in the Chattanooga Times a few days ago.
 Also an order was entered accepting the resignation of H. S. Geismar as one of the receivers, leaving C. F.. Buck in sole charge. It is understood that Mir Ge:smar, who is mining engineer of the highest standing, will act as con sulting engineer for the new company, which will take over these extensive properties.
 This is the first, step taken in the coart proceedings looking to the carry in@ out of the reorganization and re- building scheme affecting these valu- able properties, by the Chattanooga