Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1883-10-04
COKE COMBINATION.
A Vast Monopoly Now Said to bs
Organizing.
HOW A CORNER WILL Be MADE.
English, Scotch and American capitl
Harmonisi'g-lirge Purchases
Of Land and Railway q.
Rights.

NIw YORK, October SIT VA stated Last
even ing that q new monopoly In the coke
busin ess had recently been formed for the
purpo Sc Of buying up and holding pems.
nently as much Of the land in the Con.
nellsvilre district as II Was possible to OBJ
tain. The names mentioned In connection
with the scheme are members OF the frm
Of II. X. Trick & Co., and Q private hank
ing firm " Pittsburg; q wealthy Scotch
family OF INV. York named Ferguson, and
certain English capital represented by Lord
Roseberry, ths latter being himself one Of
the
Wealthiest RSslensen In EaPspe.
The noble lord, in making q trip around,
the world with bis wife while in Pitts
burgh investigated the matter fully, and
was impressed with the opportunities a.
forded for investment; the purchase OF
coke land he claims, being . moro profita-
bic investment for future rcsalts than the
world famed mineral lands OF the English
Cleveland Districts, which hsve yielded
such enormous results in the way OF royal-
ties. The coke district OF Western Penn
sylvania is said TO be o mere speck on the
geological map OF the State in comparison
with the anthracite 6elds Of the East, which
latter have long sinSe been bought up by
the Pennsylvania, Reading, Lehigh Valley
Railroads, and the Delaware and Hudson
Canal Company. and are now controlled ~
Mere Freight PreAaeers,
nd are said 10 be worth for this purpose
from fifteen hundred 10 two thousand dot
lars per acre. IL Is said that coke has,
within few years, become such q favorite
fuel that owners OF blast furnaces with
contiguous anthracite lands finds II profit.
able to use at least one half coke 10 the eI.
clusion OF their own anthracite, the yield
OF the furnaces being in some instances in-
creased fifty per centum. Ii Is also said
that with q large proportion OF the blast
furnaces OF the country idle AT present
only about 10 OF the Conpellsville coke
ovens are now in use; her c, when revival
OF the iron business occurs
Regular BSoM
in coke oven building may be looked for.
II is claimed that coke will stand q longer
haul in larger quantities than any known
freight, and while II IL worth tl.3 per ton
at the ovens Il sells at $50 % in Utah, Ne
vada and Cslifornia, the difference being
railroad frtights, besides commanding .
high price on the Hudson, In New England,
bination, II 10 Aaid, have secured
a charter for railroad connecting wtth the
Pennsylvania railroad system on the north
and with the Baltimore aud Ohio and the
new Vanderbilt systems on the south, 20
that they will be in . position 10 throw
their tonnage from their own road onto
any one OF these three great line, that may
make IL an object TO them In the way OF
favorable prices. They are said 10 have al
ready bought two important properties
within a month ata
Cost of One Milton DolIsvs.
which includes railrosd charter over the.
same ground ~ theirs. the two, In . meas-
ure conflicting and have now just com.
pleted the negotiations for the purchase OF
al other property Of two hundred thousand
acres owned principally by large capital
lists in Philadelphia. II u taid 10 have In
contemplation the purchase OF every avail.
able acre OF land In the district at any
price under $500 per acre, and thus convert
the entire coke industry into monopoly
more compact and exclusive than tbs
Standard oil Company. The cost OF max"
ing coke, II Is reported. is about "2 oents'
per ton, End they ill then fix the selling
price at So per ton at the ovens 10 all con
sumers. thus preventing the violent nuc-
tuations in price from 10 cents To 800
per ton that have prevailed In tho past, 70
he injury alike OF producer and consumer.