Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-02-17
IN FAIRY SYNDICATES.
The Hatfield-McCoy Region in Ken
lucky to be Developed.
GREEN ENGLISHMEN OF WEALTH
Are Being Relieved of Their Gold by Ken
lucky Land Company.
THE LATEST BIG LONDON SWINDLE.
Mad Fever of Speculation for American Properties
Running Riot.

The speculation fever in London appears
to be at fever heat, if the advertising col
umns of the papers are to be taken as an in
dication. The latest scheme is the Eastern
Kentucky Land Exploration and Develop
ment Company" and sounds well in print
History seems to be repeating itself in En-
gland, and if the advertising columns Of the
London newspapers are to be taken as an
indication, mad fever for speculation in
American properties seems to be running
riot, and dupes must be as plentiful as they
were during the ten years run of that
grandest of all popular delusions and swim
dies, the South Sea scheme of 1711-20.
On this side of the ocean reporters are
kept very busy following the movements of
representatives of English syndicates who
are endeavoring to buy up all the breweries,
the elevators, the steamboats,, the Touring
mills, the furniture factories, the cattle, the
drygoods houses. the boot and shoe manu-
factories; in fact, any and all properties,
active or dead, in the ownership, manage
ment or operation of which there is supposed
to be money. Straightway one of these syn
dicates gets an option-an attempt, of
course, is made to secure it without deposit
of any kinda company" is organized in
London, and stock offered for sale.
There are many of these enterprises being
foated in England of which nothing has
ever been heard in the United States. The
people of this country have, owing to the
pernicious activity of certain gentlemen of
the names of Hatfield and Mccoy, had their
attention directed at frequent intervals to
the mountain district of Eastern Kentucky.
HATFIELD-M'coY RESERVATIONS.
1t has been left however, to the euterpris-
ing and energetic minds of an "English
syndicate"to turn this region to account
and while the Hatfelds and the McCoys
continue their work of mutual extermina-
tion to inaugurate an extensive plan for its
development and exploration. A recent
copy Of the London Telegraph contains a
column advertisement of the scheme, which
will be read with more or less amusement
by Americans.
The prospectus tells of what is called the
Eastern Kentucky Land Exploration and
Development Company (limited);" 36S, 900
acres of land or thereabouts, comprising
coal and timber lands in and about Pike
county, within the great Appalachian coal
field. Capital 100000, in e1 shares
(whereof $1,000 are ordinary shares and 300
are deferred shares). The deferred shares
will receive no dividend in any year until
the ordinary shares have received 10 per cent
in that year; the deferred shares will then
receive half of the remaining profits of the
year, subject to reserve. The directors have
taken power to pay interim dividends.
Issue of the share capital, a1OO, 900, of
which "a, 700 ordinary shares are offered for
public subscription. Dayable-5 shillings on
application, 10 shillings on allotment and |
shillings at an interval of six months. The |
vendor will receive e65, 900 6. per cent de- |
bentures, bearing interest as from January,
1892, and at least $4,000 ordinary shares |
Gully paid) in part payment of the pur-
chase money.