The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1881-11-16
THE NEW SYNDICATE.
Further Developments in the
Proposed Sclleme-A Visit Yes.
terday Down The Valley.
columbus, Ohio, State Journal

columbus, Ohio, State JOurnal.l
The sensation in business and rail
way circles in Columbus yesterday
were the facts published in the !aatc
Journal concering the proposed in
vestments in Hooking Valley min.
eral lands by syndicate of English
capitalists, whose representatives
have been in the city for several days
quietly looking ever the advantages
possessed BY Columbus as distrib.
uting point for the coal and iron from
these lands, as well as for the es,ab.
lishment Of rolling mills aud other
manufacturing establishments Of like
nature. The outline given yesterday
revealed scheme of such uvershad-
owing proportions that it was at first
received with incredulity, especially
as some parties who might reasona.
bly, have been expected 10 know con.
siderable OF the matter, affected to
treat it as visionary and chimerical.
The following, handed in for publ
cation last evening, is given as show
ing the interest that our city has in
this project:
at is now an open secret that the
party Ct English gentlemen, who
were guests OF one Of our ptcm.
inent bankers a few days since.
were on a mission, which If car
ried out will be of vast import
ance to our coal, iron and
railroad interests. They represented
immense English capital seeking in
yestment, and were travelling in cog.
Negotiations now pending between a
few OF our largest capitalists and En-.
glish capitalists will before many
weeks determine whether either Co
lnmbus and the Hooking Valley. or
Tennessee or West Virginia shall
reap the benefits of large invest
ment OF foreign capital. Should Co
lumbus succeed, our city will boom
as she has never before done. The
gentlemen expressed themselves
much pleased with our city and It's
environments, and also with the few
acquaintances they made among our
citizens, both ladies and gentlemen"
These gentlemen, before coming
here, visited the entire Hooking Val.
ley region, and quietly secured OPP
tlons on immense tracts OF iron and
coal lands in various parts of the
Valley. They are preparing to make
an investment OF such gigantic pro,
portions that all previous schemes
for utilizing the wealth locked up in
the hills and valleys of Hooking,
Perry, Athens and Vinton counties
are dwarfed to littleness by COMPARE
son. Their plan seems to meet with
no opposition among the coal
and iron operators, who seem willing
to dispose of their interests, if their
price is given them. They feel that
the margin allowed by the roads that
now have a practical monopoly of
the carrying trade from the mineral
region, is so small, that an opportun-
ity to dispose OF their property at
good figures is better than to be
ground between the upper and Meth
er millstones OF miners strikes and
high carrying rates. They, however,
desire to become part and parcel of
the new organization, which has in
it 50 much promise Of rich reward for
the future.
The representatives of the English
syndicate spent large portion of
the past summer in ;he gold and sill
yer mining regions of the Far West,
especially Of Colorado, but they came
to the conclusion that the risks were
too great for the immense sums at
their disposal for investment. They
then turned their attention to the
mineral regions Of the Alleghanies,
in West Virginia, Eastern Kentucky,
East Tennessee and Northern Geor.
gia, but the distance from markets
and the long lines OF railway to be
built to give them control of their
own transportation deferred them
from u location, although they regard
certain localities in West Virginia
with considerable degree OF favor.
After coming into Southern Ohio the
advantages of proximity to markets
already established, and the compar.
alive Shortness Of railway lines In he
constructed to reach them in case
they shall not be able to control any
existing road, moi 20 speak Of the ex.
cellent quality Of both coal and iron,
and the immense amount available
within comparatively small area,
have deeply impressed them with
the advantages Of an investment Of
which Columbus shall be The head
quarters,
The Importance to coiumtus Of a