The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1874-02-26
RANDOM THOUGHTS.
BY THE EDITOR.

l saw Allen Austin at the Gibson House
last Saturday, and he informed me that
the sale of Lasleys and McGhee's lands
had been completed. As stated last week,
Mr.. McGhee cleared thirty thousand dol
lars on this land. And yet I am sure
that he lost ten times that amount by
not holding his land a year or two longer.
Mr.. Austin said that he had sold for fifty
dollars per acre, the lands Immediately
across the road from the McGhee farm.
only few years ago. and he thought
then that he was getting good price for
it.
l stated last week that 1 believed the
Bundy tract, of l 900 acres, is now worth
81 100000 Was that an extravagant as
sertion? Let us see. On Saturday night
l found the following in the Postofice:
JACKSON, O., Feb. 81.
'sMR. MAcKLEY:-ln the perusal of this
weeks paper, l note the problem given
by you to be prepared by some school
bow for YOUR next article. Now, / am a
little school girl and not boy; but
knowing that you are a 'woman's rights"
editor. am not afraid at all; for women
are only little girls grown tall. | now
submit the solution which is at your
pleasure. l find in my Arithmetic that
43, $50 so. it, make an acre; then, multi
plying by IA, l have 6,272,640 SO. in.
which is one acre. Now, allowing one
fourth of the vein, (Which is #. thick. }
for pillars and wastage, [ have ft., or
SO in in height; then multiplying by sc,
l have DDS, ,Sl5, ,040 Gu. in. of coal; then,
dividing 225, SIS, ,040 Gu. in. by 1858 Gu.
in, the number in bushel, have S4,-
0O8E bu which at one cent gives $40 0S55
the value of an acre of coal.
81 am a constant reader of your spicy
STANDARD. Hopefully yours,
"EDIE SCoTT.
Very we'll 1t will be seen that at this
very liberal estimate, the McGhee farm,
of 400 acres, at $40 per acre, is worth
now $336,00O. Practical coal miners as
sure'me that one-fourth for pillars and
waste is too liberal an estimate. l am
also assured that my price is much toe
low l am informed that good coal in
the ground, as easy of access as the great
Milton vein, and lying right on Cor under)
a railroad, is always worth fifty cents pei
ton. At that price, what would an acre
of coal be worth? I will not ask Mis-:
Edie to give me- the solution, but 1 will
attempt it myself. One acre contains
"a, ,00S bushels A bushel weighs so lbs
This would give % bushels to the ton
Divide S4.00S by 2S, and we have 3,O0(
tons per acre, which at so cents per tor
is worth 81, 800. Frank Austin has the
coal under 400 acres, which he proposes
to sell for about 800 per acre. Take
this from 81 500, the price of one acre o
coal at so cents per ton, and we hav,
81, 400 speculation on each acre. Multi
ply the profit on one acre ,400) by tn
number of acres in the tract, Il ,40O) an,
we have the enormous sum of 81 900, ,00
profit on the Austin lands.
You will say that this is entirely to
extravagant-that there are no sucl
! fields for speculation, or capitalists woul
rush in and occupy at once. There is
mystery in all such matters. 1t is mai
velous why sensible men often let golde
opportunities thus pass beyond thei
! reach. But so it is.
There can be no question about tn
coal being there, just as I estimate i
The price put is as low as it can eve
: reach, and the figures cannot lie.
l will pursue this subject next week.