The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1889-06-04
A RICH TRACT OF land
In Logan couOty,W,Va,, Bought
by Wheeling Capital,
LAUREL IRON AND COAL co.
Organized inthls City Yes,crday..Tho
company's Promising IRyestmep.
in Coal, Iron and Timber
LaNds-A Rig Thing,

About two weeks ago the ISTRLLI.
GRScER published in its column OF State
news the following interesting item
taken from the Logan county Banner;
SIT is reported that the Ney & Gulley
coal and timber lands, containing be-
tween 1000 and 5000 acres, on Laurel
and Pigeon creeks in this county, have
recently been purchased by Eastern
parties, These are said to be the most
valuable coal and timber lands in this
county, not only on account OF being in
the very centerot one Of the richest coal
fields In the State and possessing a world
OF the finest timber, but on account OF
the position they occupy along the line
OF the Norfolk & Western railroad ex.
tension. This was the last large body
OF land for sale In this county,"
This piece al news was interesting in
itself as showing that the work ofde.
yeloplng the rich and almost inexhaust.
able resources OF this State was being
carried steadily forward, and that a sec.
ton OF which comparatively little Is at
present known, was to be opened up
and the wealth and population OF the
State thereby increased.
AT least double the interest attached
to the item would have been felt In the
news had 1t been stated that instead OF
Eastern parties and capital having been
the purchasers OF the valuable lands
mentioned, II was West Virginia
Wheeling parties and capital that had
secured what Is certain to prove one OF
the most valuable and best paying in.
Vestments ever made in this State,
There was yesterday organized In this
city the Laurel Coal and Iron Company,
a recently chartered corporation, and II
Is this company that holds the lands re.
ierred to in tho paragraph. An organl-
zatiOn was effected by the election OF
Messrs. N. b. Scott, w. F. Stlicl, Joseph
+. PAUL, Spaulding X. Wallace, 2. b!
Dobbins, g. W, Brockunier, Joseph
Speidel, +, Buchanan and A, l., Rice as
directors. This, Board organized by
elecling Mr.. Wallace President, and Mr.,
Dohbins secetary and Treasurer,
Ten miles OF tho extension OF the Nor
folk Il Western railroad referred 10 will
pass through the lands OF this new
company. There is every reason to be-
lieve that this extension will DO built
within tho coming year. Tho course
will DO from the point on the Elk Horn
where 1t now terminates to the Sandy,
then up Pigeon and Laurel to Twelve
Pole and down that stream to the Ohio
river at Ceredo,
AS showing the value OF lands in that
section 1t may be stated that lands that
six months ago sold for S. per acre now
command $500 easily. The lands owned
by the Laurel Iron and Coal Company
cost $4,000 cash, which amount has
been subscribed and paid In on the CAPT.
tai stock OF the company.
There are six veins Of coal on the
property, aggregating thirty.one feet in
thickness aud including tho celebrated
Pocahontas cokingor Flat Top vein, the
coke made from which commands to-day
in Chicago from % to 40 cents more per
ton than the ConnellsyilIe coke, and
finds a ready sale. The thickest OF these
veins is fifteen feet and is very easily
worked. OF the timber, its quality and
quantity almost surpasses descriptive
powers. With tho coal and the timber,
and the iron and other minerals Of
which there arc every indication there,
the new company has a bonanza sure.
The manner In which these lands
were secured makes an interesting
story: Acting under instructions from
tho late Senator Huston, OF Virginia,
one Of the Republican Senators Of that
State, one Of The members Of the Board
OF Directors Of the new company
secured an option for the Senator on
these lands. Senator Huston went to
Lancaster, Ohio, in March TO visit his
brother; on his return he stopped in
Washington to soc President Harrison
and while in that city dropped dead
with ruptpre 81 the heart. The Wheel.
ing man was left with the
option on the Logan county lands In his
hands. Tho first payment, big one,
was about due and he had not the funds
to meet 1t, and with no hold on
the Huston estate. He told some Of his
friends OF the situation and they beGotn.
Ing interested, the Laurel Iron and Coal
Company was formed, THO gentlemen
interbstel all have many frieSds ID this
city, who will wish them all possible
success 10 their now venture. II Ia un-
derstood that General Colt has recently
made large Investments along the line
Of tho proposed railroad extension,