The Birmingham age-herald., 1916-12-05
President of Sloss Company and Directors Will Spend
 Sometime Here
MAKING MONEY AND
 DOING VERY WELL
Executive Says Building of By Product Ovens at North Birming- ham Would Be Against
 His Judgment

No big improvements are contem-
 plated by the Sloss- Sheffield Steel and
 Iron company in the Birmingham or
 Sheffield districts, according to Presi-
 dent J. c. Maben. Accompanied by two
 directors, w. H. Goadby and T. c. Camp, both of New York city, Colonel Maben arrived last night for an inspection of the properties of the company. Henry Parsons, another director, is expected
 to arrive today from his southern home at Warsaw, Ga.
 Should the Sloss- Sheffield Steel and Iron company construct battery of
 by-product coke ovens, with auxiliary recovery plants at North Birmingham, 1 or electrify the mines, it would be against the advice of the president, who | is an advocate of the policy of laissez faire.
 We are going to remain week in
 the Birmingham district" said Colonel
 Maben last night at the Tutwiler. Our trip is without any great significance
 other than to see how the big appro- priation of approximately $800,000 for 1916 has been spent. After looking over the district it is possible that we may determine to make some improvements or developments, but we have none in view now I would be against spend- ing any large amount of money We have spent enough here already.
 AGAINST ELECTRIFYING MINES T would not be in favor of electrify- ing our mines. During the electrifica- tion of the mines great number of men would be killed and the costs would be more than the additional prof. it's derived later from the work. At the
 present time the mines are being run we'll and safely. Coal is being mined
 at a reasonably low expense.
 The construction of battery of by
 product coke ovens at North Birming- ham has been considered, but such a
 plant would be constructed against my judgment. At the present time ma terials and building costs are prohibi- tive. After the war there will not be as great a demand for the coal tar by products, and we are making nice prof. it's on coke manufactured by the bee
 hive ovens. Freight rates are too high to consider competition on other mar kets for coal tar by-products that
 might be entered into after the war
 We are doing splendidly now and believe In letting we'll enough alone.
 The pig iron market is strong and we
 are out of the market. We have sold 160,000 tons for delivery during the last
 half of 1917 at $19 a ton. The Sloss- Sheffield company has an annual out put of 50O,000 tons now, though it formerly manufactured only 160, ,000 tons a year."
 NO MERGER OF SLOSS Was a merger recently contem- plated by the Sloss-Sheffield company
 with the Inland, Lackawanna and other
 steel companies?" the reporter asked. NO. Some of the other companies wanted to consolidate, but the Sloss- Sheffield Steel and Iron company was never interested in the project. Why should we want to merge? We have prospered for 80 years. We are not dependent upon anybody for our raw
 materials. We own our coal, ore, Aux
 and other commodities that are needed for the manufacture of iron. We are
 making big profits. Why should we want to consolidate with another com pany? It was never considered and I heard nothing of it in New York city" what Is the opinion among indus trial leaders in New York city as to how much longer the war will last?" 'It is a matter of conjecture, of course. We see no possibility of its close before two years. It seems that there will be no peace until one of the great alliances of nations is exhausted
 and this will not come until more than two years have passed. It seems as though neither side will score a de- cisive victory"
 Have the recent breaks in indus trial stocks on the Wall Street exchange been due to the alleged fact that the banks are overloaded with industrials ?" "The banks are not overloaded. To- day call money went to 1 5 per cent. This
 means that the banks are manipulat- ing money. I have always known that the regional banks would not be suc- cessful. If they were, would call money be 15 per cent? The manipulations of money are responsible for the slumps in industrial stocks"
 Colonel Maben and the directors of the Sloss company will spend today at the office of the company in the Ameri- can Trust and Savings Bank building. The following days will be passed in reviewing the properties of the com pany in the Birmingham district. l0ETDENA DIV TTAV Tn