The Birmingham age-herald., 1923-06-03
GAINS MADE: IN FIVE MONTHS PHENOMENAL
More New High Records Set Since January l Than Ever Before In The City's Indus trial History
 FINANCE, BUILDING AND MANUFACTURING IN GAIN Bank CIearings 50 Per Cent Ahead Of Last Year-BuiId- ing Permits On Unprecedent- ed SCaie-Set New Mark

hIS Si iiiitS OiI oIi k1' SOSSS''e
 ed SCaie-Set New Mark
 Breaking prior records of achieve- ment is no new order of procedure on the part of Birmingham but the more records than were ever broken before. Among those. regarded as especially significant is the new record in the investment of new capital in new and going concerns.
 The five months record shows a total of s23,645,000 of new money placed in Birmingham corporate en- terprises, new and old, compared with $4,116.O00 in the same period of 1922. An increase of 475 per cent.
 The May record of S1S.767, 900 compares with S16,000,000 for the en- tire year 1920, which set new high mark for new investments up to this time. May went S2.000,000 over the best prior years record and the five months of this year have gone ST. 100000 over the best prior entire years record.
 The May investment record, as a matter of fact. includes the s23,000,- 900 of increased capitalization voted by the stockholders of the Security Savings and Loan company as well as $15, 100000 increase voted by the Ala bama Home Building and Loan com- pany. This S3S, .000 of new build ing and loan capitalization will be used up gradually in financing home acquisitions the same as other capi- tai is used in other ways. These two concerns alone financed AT new homes at a cost of $1,500.000 in the first four months of the year. That broke prior records and the pace is the same now as when the new high record was made,
 New Financial Record.
 The bank clearing record for tn~ five months is $596,110,000, an in- crease of 99,906,000 over the same period last year, or 50 per cent. The for the year compared with previ ous high of $1,124, 4,o0o,0 900.
 Record In Building.
 Permits for buildings in the city proper and not embracing the mil lions spent in the suburban towns for the same purpose represent $4,932,o00, compared with s7.495, 900 in all 1922. The pace is at the rate of s11,190,000 for the year. which will be s4,2OO.ooO in excess of the prior high record made last year.
 Treble Cement Pnpacity.
 Coming In of the new mill of the Phoenix Portland Cement company served to double the districts ce- ment producing capacity and the early coming in of the mill of the Lehish Portland Cement company will serve to treble it. It will have gone from 100000 barrels per year to 4,500,O 900 barrels. The cement mills are making a third successive pro- duclng and shipping years record. 100 Per Cent More Power.
 Birmingh and Alabama's capac- ity supply of hydroelectric power has been more than doubled this year by the bringing in of Mitchell dam of the Alabama Power company, with it's 120,000 horsepower. Already 4S.- 900 horsepower is available there and successive 24.000 horsepower units will come In at intervals of q few weeks apart. Transmission lines car- rying this power to East Alabama are being built at a cost of s100O,0O0, and Tallassee dam is being rebuilt at a cost of $500,000.
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 New High In Coal.
 Coal mining in Alabama broke all records in March and April. Tho record of 4l6,0O0 tons one week in March made a new all-time high record. and week after week in April went above the 400, ,000-ton mark, which was high prior to this year. The five months coal production marks q new high for the period.
 
 Steel Records.
 Steel production made new high in January and new high over that in March. These records were given in detail in The Age-Herald at the time made. It is difficult to go be- yond these records, because in mak- ing them every employable ounce of 100 per cent capacity was used in their make. They point to the early necessity facing the Tennessee Coal. Iron and Railroad company of build ing more open-hearth furnaces to furnish it with the steel required in it's own finishing mills.
 While breaking all manner of rec ords in it's iron, steel. coal, coke. limestone, sulphate of ammonia and other departments, the Tennessee company brought in its 10,OO0-ton merchant bar mill in May. This is in line with the company's symmertri- cal development of new finishing steel mills and processes that fit into one another The company has aver aged not less than s5,0O0,000 a year in expenditures for plant betterment and new plants since it was acquired by the steel corporation.
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 Irons Come Back.
 Pig iron had a long way to como to get back, but it has done so in the five months of this year and is now at new record of production, the pace being about 260,000 tons month. An enormous iron buying movement lasted from December through March and at its close found Alabama iron capacity make booked for the first half and we'll into the third quarter. Iron yard stock fell during April to a new record low of 22 ,000 tons.
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 Pine AT Maximum
 Pressure and sanitary pipe foun- dries have enjoyed a continuity of maximum operations since beginning of the year and have made new high records The treme ndous movement to the Pacific coast is endless. Pen sacola has established regular steamship line to Pacific coast to share this business.
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 SlaE's New Record
 Birmingham furnace slag is going into construction over the south et rate of 1.000,000 tons a year, con- pared with half that last year. thus making new high record Items more than proving this record are such ats these; l07,000 tons for roads being built in three Florida counties. 60, 000 tons for apartment house and hotel building in Atlanta, 16 900 tona (Coutinucd On Pare TxxoA