Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1875-04-10
Frostburg, April 10, 1878.
Annual Report Of the Consolidation Coal
Ee1npamy.

tabular statements, the essential point
seems to be that the total funded debt
of the company has been reduced some
$4,000 as compared with last year
this with the general depression in
business, and that the company mined
Sl,O33 tons of coal less than in 1874.
The following paragraphs from the
report are also of interest:
The Board congratulate the stock
holders on the favorable results pre-
scented in the foregoing statement. 1t
shows in a year Of great depression
throughout the country, and Of
reduced sales and transportation by
this company, larger net revenue
than at any former period, resulting
from the improved condition OF the
property and general economy of adj
ministration.
There was during the year 1874
q reduction in the product of coal
from the whole Cumberland field, as
compared with 1878, of about ten per
cent. The general stagnation of bus
mess in all commercial as we'll as man
ufacturing interests will at once sug-
gest the cause of this diminution.
1t must be remembered that the
product of this field in 1878 was much
larger than at any previous time-the
increase in that year over 1872 having
been $4,000 tons. AS compared
with 1872, there has been a gain dur
ing the past year Of 100000 tons,
showing that even in year of excep-
tional depression, there is a compare
lively good demand for the semi btu
minous coal of the Cumberland dis
trict.
In the transportation of merchan
disc (other than coal, and iron, and
bricks,) there has been an increase
over the previous year of $S,454, and
in passenger traffic, Of SIS, 32l-mak
ing an increase on these two items Of
$16,775.
The railroads of the company have
been improved during the past year
by the addition of 249 tons of steel
rails of heavy pattern upon the main
line, and of 1874 tons of new iron rails
upon the branches. The rolling stock
has been improved the rebuilding in
the company shops Of three large To-
comotives. The engines and cars gen.
orally have been maintained in good
condition. Some improvements have
been made in the stations, and we en-
ter upon the new year with road and
rolling stock in better condition than
at any former period, and prepared to
do large business with economy and
dispatch.
In the mining department, there has
been some reduction Of general expen-
sas. The use of small locomotives in
underground transportation, wich was
reported last year, has been continued
with success and economy. Progress
has been made in the construction of
an important line of drainage, which
will soon open for use a large field of
our coal formerly drained by pump
ing.
The company's mines are now in
condition to furnish $500 tons of coal
per day.
The works of the company, both in
its mining and railroad departments,
are in such a state as to assure eco
nomical results for the coming year.
On April 10th last, Mr.. G. Slack
resigned the Office of superintendent
of the railroad, since which date Mr..
James A. Milbolland, the Second
Vice President, has by order of the
Board, assumed the duties of superin-
tendent. AS he is also the resident
agent of the company for its mining
department, the local management of
the whole property is now concentra-
ted under one head and as all the
works of the company are closely con-
nected and interviewer, the Ieorgani-
cation has resulted in a greater econ
omy and efficiency of administration.
The important suit Of the Maryland
Coal Company against this company,
to enforce a reduced rate of transpor-
tation on the ground of their being
lessees of the Georges Creek Coal and
Iron Company, has just been decided
in our favor by the Court of Appeals
of the State of Maryland, they having
affirmed the decree of the lower court.
This decision is important, not only as
regards the present claim, but as a
precedent in all others of a similar
nature.
With reference to the management
the Record says:
That the affairs of this concern have
been honestly and ably managed, no
one acquainted with Allan Campbell,
the President, James S. Mackie, the
late Vice President, and James A.
Milholand, will question.
The Interior Department has deter
mined to dispatch as soon as possible
geologst to the Black Hills with the
view of ascertaining accurately the
alleged mineral wealth of that coun-
try. Steps are also in rapid progress
to negotiate with the Indians for their
voluntary REIMBURSEMENT of that part
of their reservation.
A. o,,;,,,;l1o loloo g E,;ub ts