Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-04-04
GIGANTIC COKE DEAL
The Mutual Plant to be Sold
to Charles DOnnelly.
TO PUT UP ABOUT 100000.
A Meeting Yesterday, but a Hitch
Occurred in the Sale.
DICKERING FOR THE THAW LANDS
TO PUT UP ABOUT 100000.
DICKERING FOR THE THAW LANDS

Another large coke deal is about to be
consummated. The Mutual Coke Com
pany's plant, on the Sewickley branch oi
the Southwest branch of the Pennsylvania
Railroad, is about 10 be turned over to Mr..
Charles Donnelly, Vice President of the
Mcclure Coke Company. The considera-
ton is about S40O, 900.
A meeting of the parties interested was
held yesterday in the Office of Sol Schoyer,
Esq, for the purpose of closing up the deal.
There were present W. P. DeArmitt, repre-
sentatives of the Carrie Furnace Company,
Charles Donnelly and Charles Jamison.
The latter owns the minority end of the
works, and it is over this part that kind OF
hitch occurred. Mr.. Donnelly wants the
property, and will buy it as an individual,
and not as an officer of the Mcclure Com
pany. 1t is understood that be will run the
plant, and increase it by 200 ovens.
The plant now consists OF 200 ovens, and
1000 acres of the best coal land in the Con-
nellsvIlle region. The works are situated
between Mammoth and Hecla, and have
good railroad facilities.
OVER HALF A MILLION.
The whole plant is valued at about $780,
600, and is jointly owned by the Carrie
Furnace Company, Mr.. DeArmitt and Mr..
Jamisou. Some time ago, the Carrie Com
pany gave notice that it would sell, and
negotiations were opened up by Mr..
Donnelly. He offered to buy but their
share, or would take it with Mr. DeArmitt's s
portion, if he could get it. The furnace
people were willing, but the President of
the New York and Cleveland Gas Coal
Company did not jump at it with any
noticeable alacrity. With Mr.. Jamison
nothing was done about his share, and
whether the little end will come out all
right or not is matter for future consider
alton. The portion held by the furnace
people is about 60 or 20 per cent OF the
plant, and if Mr.. Donnelly only purchased
this share. he would have a majority of the
stock in the concern.
With this deal goes about the last piece of
coal land in the Connellsvilie region.
Nearly everything in the region either be-
longs to the Frick or the Mcclure interests.
1t was stated yesterday that the Frick Com
pany was after the Mutual plant, but could
not get it.
DON'T CARE TO TALK.
After the meeting in Mr.. Schoyer's office
Yesterday, reporter of The DISPATCH
started in to obtain some information in re-
gard to the deal Mr.. Charles Donnelly
said the negotiations were progressing, but
further than that he would not speak. The
other gentlemen said the deal would be
closed up, but that it had not been done yet.
1t is understood, however, that the obstacle
in the way is young Mr.. Jamison, who is
verv young man and vino will not get left in
the shuttle.
Mr.. DeArmitt said: sMr Charles Don
nelly is negotiating for the purchase of nv
interest and that of the Carrie Furnace
Company, in the Mutual Coke Company.
The two interests jointly are 20 per cent of
the coke company's stock. The Mutual
Coke Company is a new concern, having
been organized since January 1, 1890, and
owns about 1000 acres of Connellsville
cOking coal, and 200 ovens. 1t purchased the
property of the Mutual Mining and Manu-
featuring Company of Greensbutg. ana added
thereto by later purchases, about 400 acres of
coal. Its property is IN Westmoreland county,
near Greensburg. Its capital stock is 5000 900.
The matter will be decided Saturday"
STILL ANOTHER DEAL ON.
Negotiations are also on foot for the lease or
sale of several thousand acres of coal land
owned by the Thaw heirs in the region. As yet
the scheme has not progressed very far, and
those interested say it is not in shape for pub
llcation. 1t is understood that a well-known
furnace firm is dickering for the ground, and,
if it gets it, will put up a large plant. One
curious feature of this deal is that the prop
erty is tiled up" in the Thaw will When Mr..
Thaw died he left 5000 acres of land in Fayette
county, and according to the provisions of the
will it cannot be sold until the oldest child is
q years of age. The managers of the estate
are willing to lease the ground, but the parties
after it want to buy outright.
General Freight Agent J. T. R. Mckay, of
the Lake Shore and Michigan Southern Rail-
road, General Agent II. Bromley. r. H. Hill.
and W. II. Smith, all of Cleveland, made their
annual inspection of the coke regions yester-
day. George McCague, the local agent of the
Lake Shore, accompanied them.