New-York tribune., 1922-09-03
New Rail Line i'm
South Would Aid
Mine Development
Creat Southern Steel Cor
poration Acquiring Prop
critics A long Proposed
T, A. & G. Extension
spsc.ar Finanota, Correspondence

6p6ftdk GtnQHCs0s Correspondence
CHATTANOOGA, Tex, Aug. L.
Hints Of what is behind the extension
Of the Tennessee, Alabama G. Georgia
from Sheffield, Ala, to Odenville, Ala,
where it will join with the Seaboard
Air Lines main Atlanta Birmingham
line, begin to appear.
Trust deeds conveying approximate
" 45,oo0 acres of coal and ore lands in
DeEalb and Etowah counties, Ala, to
the Chicago Title and Trust Company
have been filed, the Etowail Coal and
Iron Company making the conveyance.
The land affected is principally along
the line which it is proposed to cut by
the T., A. g. G. extension to the S. A. l..
The trust deeds are to. be the basis of
a 81 100000 bond issue for development
Of the properties.
Chicago Title and Trust Company is
said to be the agent for the Great South
ern Steel Corporation, Delaware in
corporation with s1O5, 100000 capitali-
zation, which has been acquiring coal
and mineral properties in this section
fof several months. Trust deeds con-
yeying more than 100000 acres of
land in Lookout and Sand mountains
and in De Kalb and Etowah counties,
Alabama, have been obtained by Great
Southern agents within the last year.
To Erect Furnaces
The plans of the company, it is un-
derstood, include the erection of blast
furnaces at Chattanooga and at Gads-
den, Ala. The extension of the T., A.
and G. is said to hinge on the COM
pletion Of the Great Southern's ar
rangements, The railroad recently ap-
Piled 70 the Interstate Commerce Com
mission for permission to extend its
line and to issue s2,500,o00 in bonds to
pay Tor 1t. In the application G. +.
James, owner Of the road, stated that
ne had made no contract for or ar.
rangenent to sell the bonds. 1t is
thought, however, that the coal and
iron interests and James have COM
munity Of aims which let's them work
together Officials of the road deny
any connection, however.
The T., A. & G. has this month in
1foduced an innovation in railroad op-
Grafton in the South-gasoline pro-
peled cars. The line of ninety-six
mics is so short that steam engine
operation was felt to be over-ex-
pensive- James, the new owner, or
aaered several gasoline-propelled COM
Diaation passenger and baggage cars,
sh,ch are expected to cut operative
sosts s? considerably. Like an automo-
..: gne, the car is operated with gear
'n'its, but it has six speeds forward.
Discount Strike Effect
Southern business men have already
discounted s.s9, the effect of the two
ts.sAes srsu ana are looking upon the fu-
~ ere with great optimism. A leading
ess- assahooga banker expressed the
splnion YIN that the strikes were really
ssva tning. as the country's recovery
.soa sso oppression was being so rapid
t;a. sass mere was danger of over infa-
s.s;,. sa ana consequent crash: the
fsss fa.a;s were checking the pace, and
osrsis osins arise liz prices, credits and ex-
ss.s ss..s'osls .s1 OF every sort in more con-
ssargatiye lines. w.
ine stage is all set for one of The
& comebacks this country ever
ssu s;,s economically" this authority con-
bssssaa bsa' A period of prosperity is
tss ne US not seen since the days of
World War"
!, .oal,iaing trades in Chattanooya and
s,ssWnere sss, IN the South are giving sup
ssya. @ 20 these predictions. Building
H. hsssnout the section has been on
~ increase since the first Of the uaar.
~ iant, lumber, lime and strneturai
] s AK opn pants are at capacity. Nearly
ss,s,pev more barrels of cement were
laos,S lsgsa during July than any other
ars ,.soef - mills throughout the South
Sas;s capacity; the hardwood lumber
ii Ihsss AZ mas picked up remarkably;
.an.s arn.ssssmand from the british Isles is
5sr5ssly 55sasly increasing, and Southern
s!hs;, s;s~ooa mills are now shipping half
sxS 1 psoauct to. England and Scot
sifx aoie pine mills are far behind
81 vsoefa, which are piiing up all
49, k kslns are also swamped with
|yas;s ana many months behind in de-
.ra.s lase brick plants especially.
a,l., = conditions In Tennessee. despita
yea, .d sa.i,iavorable indications, are now
- ssss,snt ,ss Tennessee perhaps is in bet-
:ss.sn pe regarding a state Of crops
lsss m s..s IS othes.atate of the South. The
y Ssep this year will be almost as