Scrip - Alphabetically Roane
Roane Iron Company
During the Civil War Chattanooga was selected to locate a new mill to
roll iron rails to maintain the Southern Railway system. A site was selected
two miles from Chattanooga, machinery purchased, and a building was started,
but the advance of the Federal troops forced the Confederacy to abandon
Chattanooga. After the Federal troops took Chattanooga General Daniel
C. McCallum, who was in charge of the U.S. military railroads recommended
and received permission from General Grant to complete the rolling mill
to maintain the vital railroad Federal supply lines. The mill began operation
April 1, 1865. The mill operated under Federal authority until October
of 1865.
The government sold the mill to John A. Spooner of Plymouth, MA for $175,000
in October, 1865. Once they understood the capital required to run the
railroad they associated with Apram S. Hewitt, Peter Cooper and others
to form the Southern Iron Company. Once the scrap rails purchased with
the mill were reworked and sold the mill had difficulty getting scrap
rails. The southern railroads had the only source of scrap rails and they
were the only customer and they had very little cash to buy new rails
despite their need for new rails.
The Southern Iron Company continued this precarious operation, and in
1869 took steps to bring to an end to their dependence on the scrap rails
by installing 9 piddling furnaces to make rail iron from pig iron. This
allowed them to associate with the Roane Iron Company who had coal and
iron mines in Tennessee as well as blast furnaces for pig iron production.
In 1870 the Southern Iron Company was merged with the Roane Iron Company
under the Roane name. By 1876 the company had one million dollars in paid
up stock and was employing over 500 people at Chattanooga and 250 at Rockwood.
However, northern made steel rails began replacing iron rails because
they lasted longer. By 1877 the Chattanooga rolling mill was shut down
because they could not supply the steel rails. Two new Seimens ten-ton
acid open hearth furnaces and a 36 inch Fritz blooming mill and associated
equipment was installed and steel was made from the pig iron in 1878.
However, the mixture was unsatisfactory and great difficulties were experienced.
What brought the operations to a close was the rapid progress in low-cost
steel in the North. The high cost operation in Chattanooga forced operation
to close. Several more unsuccessful attempts were made and the mill was
closed in 1890.
$0.05 Roane Iron Company, January 1st 1874, G-3180
3rd Issue - 1874 Davidson & Stewart store proprietors
Compliments of R. M. Smythe Aucton 279 lot 1872
Sedman / Schingoethe / Carson Collection
$0.05 Roane Iron Company, January 1st 1874, back, G-3180
3rd Issue - 1874 Davidson & Stewart store proprietors
Compliments of R. M. Smythe Aucton 279 lot 1872
Sedman / Schingoethe / Carson Collection
$0.10 Roane Iron Company, 9/1/1871, G-3185
2nd Issue - 1871 B. J. Chason store proprietor
Compliments of R. M. Smythe Aucton 279 lot 1872
Sedman / Schingoethe / Carson Collection
$0.10 Roane Iron Company, 9/1/1871, back, G-3185
2nd Issue - 1871 B. J. Chason store proprietor
Compliments of R. M. Smythe Aucton 279 lot 1872
Sedman / Schingoethe / Carson Collection
$0.10 Roane Iron Company, April 1st, 1881, G-3190
4th Issue - 1881 Linday store proprietor
Compliments of R. M. Smythe Aucton 279 lot 1872
Sedman / Schingoethe / Carson Collection
$0.10 Roane Iron Company, April 1st, 1881, back, G-3190
4th Issue - 1881 Linday store proprietor
Compliments of R. M. Smythe Aucton 279 lot 1872
Sedman / Schingoethe / Carson Collection
$0.25 Roane Iron Company, April 1st, 1881, G-3195
4th Issue - 1881 Linday store proprietor, canceled
Compliments of Tom Carson
$0.25 Roane Iron Company back, April 1st, 1881, G-3195
4th Issue - 1881 Linday store proprietor, canceled
Compliments of Tom Carson
$0.50 Roane Iron Company, April 1st, 1881, G-3200
4th Issue - 1881 Linday store proprietor, canceled
Compliments of Tom Carson
$0.50 Roane Iron Company back, April 1st, 1881, G-3200
4th Issue - 1881 Linday store proprietor, canceled
Compliments of Tom Carson
$2 Roane Iron Company, April 1st, 1870, G-3210
1st Issue - 1870
Compliments of R. M. Smythe Aucton 279 lot 1872
Sedman / Schingoethe / Carson Collection
$2 Roane Iron Company, April 1st, 1881, G-3220
4th Issue - 1881 Linday store proprietor
Compliments of Tom Carson
$2 Roane Iron Company back, April 1st, 1881, G-3220
4th Issue - 1881 Linday store proprietor
Compliments of Tom Carson
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