xt795x25b977_56 https://exploreuk.uky.edu/dips/xt795x25b977/data/mets.xml https://exploreuk.uky.edu/dips/xt795x25b977/data/56m307.dao.xml Seaton family. 21 Cubic Feet 26 boxes, 18 volumes, 5 map folders archival material 56m307 English University of Kentucky Copyright has not been assigned to the University of Kentucky.  Contact the Special Collections Research Center for information regarding rights and use of this collection. Seaton family papers United States -- History -- Civil War, 1861-1865. Railroad companies -- United States. Iron industry and trade -- Kentucky. Miscellaneous Business and Financial Materials text Miscellaneous Business and Financial Materials 2016 https://exploreuk.uky.edu/dips/xt795x25b977/data/56m307/Box_6/Folder_7/2500.pdf 1895-1928, undated 1928 1895-1928, undated section false xt795x25b977_56 xt795x25b977 1m , m::=::=:xmzfl,=========nxT===t:-1::m111111171-1-1 1222 ,-T-1_11111-1“ 222222" - 2:212 2 ——u—1+———-———-—-——————7—'—”“7“"?7””‘—“7”’ " J7~T——'*777“777f77;’:"*'”‘”"7 “7 " "
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Furnace 39£9¢fi4923 2 30 292119 91 399 681‘ 17 251 32 1 10 127811 16 39232l 239 922186 1109 131159 1 18 939 11 1 39 000 7821202 014187 1 35 571 88 ‘ 38 918 70 159 77199 256 080 99‘ 22 170 32 a 770 01 95 690 ,7
06a1 Deuarixcmt 7 938169 29 159 60 1 19 658 11 1 21 782 591 11 h6188i 33 239199 1 61 722 91 1 39 229 79 31 790 5011 81 939126 7 81 880199, 7 701 18 25 526799 19 383 68; 15 477 9” 16 253 19 7 853 86
”fl—h‘" 1 l i ' i 1 1i 7 1 1 11 N ,1” 1 _| . g _' M
Machine ShOES 8 102133 1 391 95 2 u 698 89 1 3 678 651 7 37669l 12 23ui3u 1 6 691 65 1 6 550 19 s u 112199;3 6 373 72 ‘ 3 998116. 3 734 38 92» 0|39 10 116 07‘ 1 662 21 811 77 1 ”56 >1
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6+prps 10 221112 19 677 90 20 592 99 1 22 67C 831 19 639 421 26 455159 1 25 738 02 1 19 932 33 1- 892 68 1 an 092 24 19 5397007 2 624 62 ~ 5 '98150 1 9 713161 10 110 40 6 159 50 8 9:; 29
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2:_._: 1 7 2 7 1 7 1 2 1 1, 1 1 _ 77 2, 7 7 _ -7- a . 94- 3.
_ 1 2 1 s 2 1 1 2 255269 1 86171 6 1651791 3 92’ 1? 3 *6 85 8 55" *9, 1 6% 66 5 1 --
17 fig—‘11 7717‘1 1 2 1 ‘1 1 1 1 1 -.. 1 17 (-3—, 1 2 ‘ '1 ‘1 r
anber 331eq 1 1 1 7 1 2 ; 10 953151 . 1 325 91 517138 3 268 25 1 5861372 1 233 46 7 771 90 37 432 90 6.2.3 11 — 5 018 1
“‘14“;*L—:4:‘ ‘ 1 1‘ : I 7 1 1 1 1 1 - 1 - , , 2 1 n”
Railwav ‘ 26 818169 55 956 83 95 296 77 1 93 839 881 55 172 071 73 669125 1 51 586102 1 98 468 96 no 959321 76 666 18 81 423,811 37 257 69 7 56 512195 60 ”61 a” 32 019 08 ”3 317 11 51 509»-
"_‘_11’ 1 ‘ 31 7 I 1 5 E 1
stiflify Bitgréo} 1— -__ ,1-.----- - ,_-___11.._.__ 21‘ . 11“? - - -1- 1-11-#---A1__.__.m.1j._.____._—.—1—~1~———————- 1_V;f-,-_.4;.__li_.?_2_2_-§.9___. .2 . 375117 2. 707 . 79 1 1 1; ‘ 1. 1 1' ' 1 1 » 1 1 1 1 1
T0731 gain; 1: 86 009165 199 696 28 110 757 38 7110 606 32 ‘118 518 631 385 512 03 3269 519 83 1192 768 11 ‘7‘anégj169M;uQ5flugE+éEflh12§ 3011651 99972 65 1261 "56155fl‘405 506776" 95 927,98»_ 76 207.97 .182 196 C
”‘T' ' ‘ $ “ ‘ ii ’ y ; 2 1 1 i i 2 1 1 1 7 1
{.L Lib!) ‘ 1 t ‘ 2’ 1 ‘ 61'1'1 "1'1 , 7 [1 ‘1 2
General Exrexz>I Railway 12 362 96 11 929 98 13 062 19 1 19 395 17: 12 310170; 19 330 22 1 17 907170 1 16 292 39 :x 112»»1 1 1 i
__77_,r__L*-- 1; 1 1 7 1 1 _ 21 . 1 1 1 :1 1 1 1 , 2.: ;. .. 1“ «CC? 19 9 7:11
0513:3181 Expehse‘ Mining CO - ‘ " 1 1 1 -2 — 1 ‘1 6 612 37 11 358 79 11 38131011 10 120 9111 ' 111 701152 1 (111 111111 11 8 11178 3) 8 E1 1111“ 1 1
~*—-*—j*"” — 1 1 1 ; 1 1 1 2 ‘ 1 . M r 22 P 12 p7 .2
-axef 3 In8nrah0v Railwafl 19 158 38 7 889 51 7 13 559 58 1 12 729 502 12 499112 11 691 67 1 13 386131 32 7lul55 8 302 50 10 000 00 1 12 0007007 12 000 00 7 10 000 00 10 060 60 9 555 95 9 600 00 8 706 :
'*’* ' 1 *7 ' 1 1 7 1 1 i 2 2 — 1 :1 1 13 266 :9 13 2‘9 22 15 6(1 9 19 97 V
T835£-&_£Fifl£ahV‘1H§L_££- 31 7 1 7 ‘ 2 1 2 6 296 86 12 713 03 1 13 523 2911 13 590 53 . 13 287 59 , 3 9 2 9
11 1 1 1 1 1 ‘1 “ " 0'7 ‘“; :(2, '17 0 may ”wt 0 ’77h "
19112667 & DiSCQH1L_B§1;fl§y2 5 770 70 5 966735 1 8 931155 1 l2 l1“ ””1 15 202117 13 ”18 93 1 1 891350 717 52 7 927 18 926 19 2 3 3191211; 2 306 3° 9 055 51 ~ “‘02- 1 5'7 ’7 - ’71 1“ 1 "“
,¢;_x_7::_-;~:------ 1# ’1 1 11 7 1 1 1 2 11 1 n ' A "5 «Ah 76) ’Tf‘w“ Am “ “PM" ."
711;,th on 56262 7 17 080 00 17 080100 7 17 080 00 1 17 080 00 17 080‘00 19 926 66 1 15 526 67 1 9 000 00 1 6 000 00 12 000 00 1 12 0001001; 12 000 00 11 000 00 1: 000 06 1; 066 00 1: 666 66 .1 686 6_
"~_“ 1417711’A 111: 1 ‘2 11 1 2 11 1 1 1 1 1 1 - |1 1 s ‘1(‘ ”7"”: "1 fin " 1 ~ 7 .
:3 ;. CPI“ . 11 1' 11 1. 2 . 117 168 55 1 1 6G01O3 i 7 11111 1110 22 2 2711 10 1 2 8311103 11 l 595 283 ' 154,6] 11» 9:20 112' 2 fro,- (31:, .21, 1026 C0 .251) 1141
'8. '1 .. ‘68 _. 7* 1 _ ‘2 ‘2 1 11 ‘ 1 1‘ 1 27 1 1 2 1 1 1 11 1 1
‘ 2 1 1 2 1 1 2 1 0 9 7 ‘ 2 355 30‘ 1 1
1 Cpnswuctifigp 71-300mm ‘ 2 7 1 1 7 11 8'92 811 I 1 7 9 9 3 1 1 )1 11
.. ; 1 1 1 1 1 18 1107 '09 1F. ‘ , 10 200 15 2 1 ;
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(Inch-thing :iscount) ; g 1 j 1 3 11 1 1 ‘ 1 1 7 3512:; 91+ 10 37 5111 7 8222:”. 90 3. 1151 114 7 283- 311
Degree 12.1; :th ' E 1 1 1 1 1 1 7 1 1 l1 11 1
1 1 1 3 ‘ 7 1 1; 2 5 722 20 750 00 2 1 1 2 .
Re«;«1‘::a,r1}z:é;;figm-J..5J_e 1 1 1! | 1 1 71 1 ’ 1 2 ‘ 1 ‘ 1 1 7 1
1 1 1 ‘ f 1 75 000100 1 62 600 007 2 000 00 118 000 00 86 000 00 2 2 3 000100 1 60 006 00j 5 000 00 1
Peace 1 : 2 12 ’ 1 ? 1 2 1 1 1 1
1 1 1 1 1 1 1 1 6611 1 966 25 1 61 1 122 25 1 1 019 82 1 1 1
Ezggry-Accounig- 10 000 0° 1 1 7 V 1 1 1551 5 8 85 1 1 ” 1 1 2 1 1
- _ _ 1 2 1 2 3 1 7 1 7 1 19 791 86 690 92 1 1
3 1 2.2876612. - 7 2 1 2 2 2 1 2 , 2 1 2 1 ~ 1
*' 2 1 1 11 2 7 ‘ 2 2 1 2 H8 917 91 . 1
9 1' Pi; Irgn- 1 1 1 1 1 ' 1 7 1 1 1 1
1 ‘ 1 T} ‘ 1 1 -1 1 1 33-: --6 7 603709. -
Permanent 399321516199 33 1 3_3¢3373,3_7- --- 1 2 2 ‘ 3»—~2 --;1‘1-1 --,- .- ---1. a- 1” 77 - ‘ ‘
"30191 9899311111 61‘ 3781001 11 8631211152 631.1 56 319111 67 09272917 186 2258 787 1317 1286 85 ‘2 73 32275 1792 590 11111_1_17-311451- 75-1-95 15 53_5,7m5§295-19112219911721--5-9--7-9-2L11--_3-1-1--§-79‘25-. 59 93611-111
Net Earnings 21 631165 7 107 8351911 58 126 57! 511 257 222 61 112613111, 199 053116 ‘ 135 038 i1 69 11115136 90 057125 {258 057 13 117 1106120 116 099 797 £207 15, 26 ‘ 282 612 032 36 221183 35 670 88 .22 930 65i
'77277777‘7‘ L1 1 2 1 _ -1 .1 -1 - ‘ 5 755100 3 u 1 o 2 o o 1 ‘00 1 a 00 2 a 00 11 518 75 1‘ 8711 16 93 68” 2
62.12%;ng 666632236 1. 2 -2 :3 M , 2 2 2--_-__.,.3.-5-3-0 00 7- 223-0190 ,--3--3-715_-_ --_ .--_51__-fi.__3_777227 ,7 3 _ 2 - - -- ,2 -- - ,3.
-- w * --1_-1_--- v7~»#«1r-' '7" "7 ’ ' " ' " ’ ‘7 ‘ 1. 1 1" 7 . r) 2— ‘ r~2 *
1 21 6315651 107 835 94 58 126 57 58 257121 61 926 311 199 053116 135 038 98 1 75 200 36 ;.48 587 25 1281 097 13 140 1131701 46 118197 2207 172 76 281 88/ 03 117 793 58 8 203 58 2198 619 88;
1 ‘ 1 o 1 1 1 i 1 2», 9 I . 9 -
less Divlgghg§_2§39 1 59 7801001 59 780 00 59 780 00 59 780 00 59 780001;”59’780‘39 _2319%%.?9-1 62_é1? 2__%fl92 820 00 2123 760 00 201 110 00 92 559199~1EE§_Z§0V—Q3_E1¢W§@O.99111111§_9 00 i§_319 00 >9:_890100>
1W§W 055 911 1 653 113 5 522 79 1 6116 311‘. 139 273 16 1+3 006 1+8 1 5 585 36 31 767 25 1157 3371713 60 966130 ' 1+6 705 $03 1 83 1112; 776 66 267 03 29 606 112 38 206 112 33 7911 887
1 1'1 31 7 1 a 1 7 c 1 79 1
1 -: 1 1 2 r 96 1 504 316 94 993 330268 396 685 6 980 063 37 516 332 90 516 .45 98 478 519 56
Inlan091139f111611999 1 w 1 ‘ 2 1 7|‘5 la 56 :5 979 8 1 1 1 ‘ 1
1 7 ' 62 20 z : 7 2 ‘ 1 j
—"—“"‘77 W 1 ' 1‘"“——“" 1396 979 81 509 316 99 913 350169 396 645161 use 065 37 1596 332 901 516 725 981 978 519 56 532 3191991
3321917199 PrQI‘JLAL-C‘fiff 73 7 6 1 = ‘ 1 1 7 1 :1 1 1 2 1 1|
2 2 5 1 _ 1 2 2 21 1 1 ’ 1
close of year i an 821 50L 132 377 881 131 228101 125 701 22‘1127 387 56 266 620 72 309 627 20 315 212 3 1 ‘ ! 1 1 1‘ i 11 z 1
---,- 11-2 ——~ ' 1 1, 1 2 2 2 ____..—_—____l
2 1 1 , - 2 2 :_=33 .________11__1__1_.___________—___— 2 ,3_1_=====1=z================_________________________
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! 27 . ‘ , ‘ _:

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.
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/
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- ‘ .4 ‘ ‘ ‘

i1 9 , ' ‘ . ‘ v I U . 1, ‘ I!

 June 50th June 50th June 30th June 30th June 10th "i._ ’1” '
l 9 l l i 9 l 2 l 9 l 3 l 9 L 4 l 9 l 5 i ' L 6
l2 months 12 montns 12 months 12 months 12 months '1 . M1616 ‘
let earnirgs of Departments
' Furnace Departments 67 l5? O9 32 339 #6 23 330 18 39 509 87 VJ ;J‘ 1?
Coii°népaftfient “'”' ‘L 11 591 25 10 235 09 17 046 91 i5 572 20 6 679 76 1 a; 7;
machine Shops 2 621 76 6 799 18 6 673 13 4 519 as 6 192 67 . 1:; :7 ’
Store 9 760 18 lO 506 35 14 697 58 10 596 74 9 075 57 11 ;16 {I ,
Rent M 520 24 5 271 O5 5 505 06 u 213 62 2 923 12 - V1: 3_ ‘
1 Interest and Discount
Lumber Sales 9 29M 96 17 645 55 l9 7M5 63 2 no} 89 2o 52 -72 ;: L
Railway 38 188 28 50 3%} 97 6k 634 64 65 88M 70 MM 726 65’ 2. g?“ i;
I Sundry Entries 5 475 26 10 116 48 3 776 99. 2 65? 80
Total Earnings 136 228 20 11M 167 80 156 306 12 135 657 57 47 753 16 1!; 1:; *6 V '
Deduct
General :Xpeneee Railway '2
n H Mining CO 10 119 62 11 025 58 l4 707 25 9 722-11 10 162 i6 ;; ;;; v;
Taxes ani Insurance Railway
.1 n .. Mining: CO 19 1.97 84 21 697 39 19 275 69 13 666 92 14 688 18 1'3 v;
Interest and Discount Railway ‘ I
n on Bonds i2 000 00 12 000 00 12 000 00 12 00 0 00 12 000 00 iv ”:1 a!
Bad Debts 990 55 3 046 77 l 228 85 2 55% 01 1‘; 1;
Construction Accounts
Empenses Refunding Bonds 4? ’74 #4
(Including Discounts)
Depreciation u 755 55 n 755 58 H 755 60 5 749 94
Reorganization EXpenSes
1 Reserves
Sundry Accounts l 651 l} 496 87
Reduction value Lake Ores 50 000 GU 12 654 56 ‘
" " Pig Iron
Permanent Improvements
Total Deducticne 47 51” nu lOO u57 10 71 439 90 MO 36% 82 39 901 82 4“ Liu 3o
Yet Earnings 88 713 76 13 700 70 84 366 22 96 273 05 7 851 5” -1- :6; 11 ~
Dividends Received 25 266 79 lo 50 6 OO 5 €55 00 20 50 4'6 127 e;
111 980 55 13 711 20 an 272 22 102 028 05 7 861 85 161 is. e;
1 Less Dividends Paid 92 820 00 64 974 00 52 598 00 7 7:5 00 H? i i a
19 160 55 32 27a 22 102 023 05 126 SM _.. ‘"o ::
BalanCe Profit and Loss
~“’ beginning of year 532 31M NH 551 M75 99 500 212 19 532 486 41 654 51M #6 L”; _ "
Balance Profit and Lose
‘ close of year 551 475 99 500 212 19 532 456 Mi 6%u 514 N6 634 6H1 30 :::h) z- -y

 2 \
_ Ashland 159; g TMining Companyr
Pegggggy let—1916
Lands Acres Book Value Real Value ‘ Increase..
. Clinton 9.25 5 952.55 55 145 90
Coalton 7.25 ‘15 882.78 100 910 51
' _ Haney 9.00 550.40 4 917 00 g 1
Princess 25.00“ 1 1 782LZ§ 44 559 50 1
y ' 9.27 222 155.52 2555 510 24 127 955 55 .
North Winchester 10.50 ‘
South Winchester 15.25 5 000 00 5 000 00 ‘ -1 2
. Jas. Poage Tract 7.55 2 455 15 2 455 15 ‘ — '
5. B. 5. Hatcher 10.00 2 500 00 1 5 000 00 g 500 00
- Jacob Leicht Tract 45.20 12 555 50 2 15 120 50 5 455 00
2 irregular Pieces (5 Lots) and 1 I '
Roadway 2 500 00 5 000 00 ; 500 00
\
Block No. 59 Lots_ 1 ‘ i
1
Ashland Fire Brick Co 25 x 1424' 25 950 00 2 500'00 ; l 550 00
s. 3. Savage (Imp'd) 25 x 142%' 11 2 850 00 2 550 00 i _ ' .
B c Hyman 25 x 1424' 2 50 00 100 00 2 50 00
John Russell 8 450 00 500 00 ' 550 00
- AC&I Rwy Exchange Land 42.68 a l 951 00 1 951 CO ‘ -
Kahne Lots—6th Street 100 x 142%')
. Foe Lot (Incl Office) 150 x 1425')
Triangular Lot 595 x 515 x 78') 5 000 00 lo 000 00 5 000 00 ,
8 Cement Cottages on Above ) 2
Office Lot ) 5 286 55 5 286 55 -
Machine Shop Lot 500 x 115' 5 000 00 5 000 00 5 000 00 2
Pattern & Foundry Bldgs 10 545 52 10 545 52 — .
Street Paving 1 672 58 l 672 58 —
Williams Wheel 00— 200 x 400' Front 5 000 00 5 000 00 —
Layne Lot 150 x 142%' 1 000 00 1 000 00 _
Lyons Lot 150 x 1424' 1 500 00 l 500 00 -
4 Cement Cottages on same 5 171 75 5 171 75 —
E c Jones Lot 25 x 112' and House 700 00 1 000 00 500 002
Store Lot 500 x 1425' " Bldgs ‘ i 2
. & Vacant Lot 500 x 580' 16 481 84 l
Street Paving 756 42 17 258 26 -
General Office 4 Block 142%x500' & Bldg 5 000 00)
" " Hot Water Heater, Etc. 1 240 25 9 240 25 — .
Greenup Ave Bet 11 & 12N—500 x 142%'
, Including 10 Houses 15 468 22 3 a
Paving ~ 554 45 ? 14 102 57 —
Christman ProPerty on 12"—Incl House 2 500 00 5 000 CO 700 00
Greenup Ave Bet 12 4 15" 81 x 1424' 5 500 002
Paving 745 05»‘ 7 045 05 —
Lexington Ave 22nd St. 200 x 142%' 1 .-
Cost 1500‘ 500 00
Paving 944 59 10 000 00 5 555 51
Front 29th St. 50 x 1424' 1 555 00 1 550 00 — 2
" 27th " 100 x 1424' 500 00 l 000 00 400 00 , -
Road to Sheet Mill 55'5" x 1424' 400 00 400 00 —
2 1 Lot 50 x 924' 4 Brick Bldg— 2
(Alaska Vater Proofing Co) 5 500 00 4 000 00 700 00
Total Real Estate & Improvements 555 912 12 486 949 26 155 057 14
. 2 2 t 2 ,‘ .

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 PRESIDENT’S REPORT ‘
' , .\.~;in..\sn, Kin, Junt- :m, 1.917.
' To HIV .S‘Ilu‘lc/i.tillers and Han/71 of Dircrlorr.‘.
, I ‘ The year just closed has been the most remarkable in the history of the Company. '
' Prices on all our products are the highest ever recorded and the volume of business
the greatest. All departments have shared in this increase and have shown satisfactory V
results Our earnings haVe been very gratifying, being" the largest in the Company’s
history. l’lowever, the proiits hare practically all gone into material and construction -
I ‘ i at our Steel l'lant Department. I
Tin: FURNAMC Thinner),i_i»:.‘;'r.«¥l'lie furnaces have made Various grades of iron
durine‘ the year. ;\ good part of the output applying against old orders, or at least at i i »
prices that would seem low in comparison to the present market. in january, Bessemer
I ‘ iron went to $371.0“ per ton, which at the time seemed high, and in the opinion of many
could not be maintained. It beine‘ essential that we should have a large amount of .
~ cash to meet our growing" rt-rpiiretnents, we made some sales for export at about that i
level. The. venture was profitable, althougzh prices afterwards went higher and still
I i later \'C1‘_\' much hiaher. \Ve hare made comparatively few sales at the top of the
- ' market, owing" to ihe necessity of clearing up our order book, preparatory to a pro—
tracted run on l'lasic. No. l l’urnace is making the iron for these unfilled orders,
which are nearly coniplttul. after wbirh she will be blown out for remodelingT and
relining for larger capacity. .\'o. :3 Furnace was working: so badly that it was found
> necessary, the last of March. to blow her out. ller lines were changed in the relining
' and she is now making a fair tonnage of llasic iron. It is probable that our six open
hearth furnaces will require the j'vroduet of both blast ftu'naces. and as their number i
is increased it is quite possible that a larger and more modern blast furnace will have ‘
to be added.
'l‘uic S'rrin. PLANT lllil’.\1{'l iii-13:1173l‘vyo of the open hearth furnaces were completed,
one put in operation and the first steel poured on Feln‘uary 17th. The second was com—
' pleted shortly thereafter. .\t this writing: four are finished and three in operation.
lt is expected the other two will be completed about the middle of July or the first
of August. \Ye llLth' been supplying the Sheet Mill with a limited tonnage of steel,
as well as selling ingots on the open market, and the operations have been quite profit-
, ’ able. The l‘ilomnina‘ Mill is about completed, as is also the erection of the motors
and the electrical machinery at the Power House. It is estiiiizttetl that we will be
' able to roll all the ingots we can produce with the six furnaces now installed, and
still hate a reserve rolling capacity for four or live additional furnaces. It is expected
that we will be turning; out billets by the first of :‘xueust or earlier. The buildings orer
‘ ' i the open hearth furnaces are finished, but owing to aeararatiue‘, but unartitivlahle .

 .» delay, the buildings for the “looming Mill and Power House are incomplete, haying
yet to be covered and riveted
I THE SHEET MiLL l,)lil’.\I\"l‘J.t,]-Z.\"l‘.~#lji€ilif;‘ unable to procure sheet bars or billets, oper-
ations in this Department have been irregular; protits have been good under unfavor-
. ’ 1 able conditions, but undoubtedly would have been better with continuous operation. ,
- After the Blooming Mill is started it is expected that all steel requirements will be
met, and that most satisfactory earnings from this department may be expected. -
THE Co.\L DIEI’ARTMEXT—Jilin? operations in this department have also been greatly
_ ’ increased during: the past year and prolits multiplied seyeral times over. The supply .
i of coal, however, has been inadequate. Entry is being driven from both the Rush ‘ ‘
Creek and Four Mile side in the latter lield. When completed it will be possible to
greatly increase the output of these mines. .
_ TnE MAe‘nlNE Snot! lliaaiirrilExi‘r shows prolit about the same as last year, but .
_ V the departmental demands (upon which a comparatively small profit is charged) has
grown to such proportions that outside customers tdepended on in the past for major
' protits) have been almost entirely cut out, This necessarily means a great increase 1
in the volume of business, to have thus maintained the same showing, while operating
1 on this changed and less protitable basis \\1"e have completed the new machine shops
- and foundry authorized by the Hoard and they are now in successful operatimi, but
’ have been working almost exclusively on steel plant emistruction.
THE S'roiacs .DIZI’AR'I‘MlZN’t‘.—-—li:211'lll1]gs in this department are largely increased, re—
flecting the business cominp~ i’rom employees at departments added during: the year. '
' On May 30, 1917, we twini‘deted a {gas well, located within one—half mile of: the
steel plant, on what is known as the jessie l’lorn harm, and have an excellent showing V
i of gas. It will be piped to our furnaces as soon as the pipe can be obtained. This well
shows a rock pressure of about 79.: led. It is the purpose oi your Management to i
drill other wells in this yicinity.’
' Our organization is beingr increased as the ramitications of the Company and the
. growing business in all departments demand. Since our last annual meeting, Mr.
' S. C. Peebles has been elected General Manager, taking charge on March 1st. He has '
rendered Valuable assistance in planning for oreanizz’ttion and production and in the
general management of the Company’s affairs: in fact. it is a matter of pleasure and >
.' gratification that l am able to report that our entire organization seems to take special
pride and interest in pushing construction and production to their iitiwgist. The best
- i feeling: exist between otiicers and employees in all tb:*partments of your Company,
and I feel greatly indebted to them [or their loyal and etiirieut support, and take
great pleasure in acknowledein;r it. -
‘ ' \V. ll. Sli.\'l‘ON, President. '
‘ t

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5_6_5.jpg