The Birmingham age-herald., 1917-03-24
PRESIDENT BEFORE THIRTY

eAsfCAi progressive measures was named as pres ident of this company before he was 30 years of age. He was named as president of the Central Iron and Coal company at Holt, near Tuscaloosa also
 For nearly eight years he served as president of these two companies and succeeded in placing all the plants upon money making basis.
 The attention of J. Pierpont Morgan was drawn to this young executive, so he offered him a position with the Morgan Interests. MT. Catchings accepted po- sltlon in the purchasing department for the allies, but resigned to accept the pres- idency of the Sloss-Sheffield Steel and Iron company yesterday
 Should MT. Catchings determine to di- rect the operations of the company at Birmingham. he would be among friends as he is we'll known here
 MT Catchings is rather small sized man, with jet black hair, wears glasses and has the appearance of being perhaps 35 years old. Tn conversation, he has the pleasant soft tone of a southerner and is a very affable man.
 He is q cousin of Ben Catchings. who was once resident of this city,
 The announcement that MT. Catchings had been elected president of the Soss-
 
 to the Birmingham officials J. Campbell Maben, Jr.. vice president, stated that he had not been informed of his cleo ton. Henry Parsons, a director, had not been informed of the election of MT. Catchings, he said.
 DEVELOPMENTS EXPECTED
 With MT. Catchings as president of the Sloss-Sheffield company, 1t is expected that there will be considerable develop ment The company with rich mineral reserves, is expected to take on new life A by-product coke plant is regarded as certainty.
 At one time the matter of constructing steel plant was considered by the Sloss- Sheffield Steel and Iron company. How ever, the heads of the company expressed the fear that the Sloss company could not compete with the United States Steel corporation The labor problem, coupled with this fear of competition, forced the officers to abandon the idea
 / It Is understood in industrial circles that the advisabiity of putting a steel plant in operation in the Birmingham district will be left largely to Mr. Catch ings and that he will determine whether or not the soss company will turn out finished products. For that and other purposes he Is expected to visit Birming- ham at an early date.
 MAY HAVE STEEL PLANT Should the Sloss co.npany enter the steel business, it has a large enough output of pig iron to embark in it's pro- auction. During 1916 the Sloss company had great year. It's pig iron production was 71,000 tons greater than any other previous year. There were 300,000 tons more coal produced than in any year of the company's history. and 100000 tons more than 1915, The coke output was 510,0 900. The total income of the company was $2, S195 532, as compared with $909 075 the year before, and the surplus was sl, ,521 .s75 as compared with $170.s3s. The profit and loss surplus was $5.o49,S66 at the end ot 1916.
 It is said that the reason the officials of the company are making an inventory of the porpeties Is for the purpose oi ascertaining whether or not 1t is worth less than the stock. This would indicate that the Sloss company is considering the issuance of several millions in new secur- itless
 While Maj. J. S. Sewell is continuine to make his survey of the properties oi the Sloss company, E.. A. Ernest the ac- countant who has been engaged on a re port for the directors, has returned tc l New York He will return later to com. I plete his work.
 J. N. Wallace of the Central Trust com pany, who was named as temporary pres ident, will serve on the board of direc. tors Harry Evans was elected to the directorate in December