Telegram-herald., 1891-06-01
BIG DEAL IN COAL LAND
A Company Organised at Big
Rapids Last Tuesday
WITH A CAPITAL OF s1,OOO,ooO
To Develop the Rich Timssr sna MIA
ssaI Lasas ef Bell iceansy-omesrs
ana Directors are fiessed
aud Ready tor basiasss-

A stock company MAS organized 81
Big Rapids on Tuesday last with
capital OF S2 ,ooo. 900, for the purpose of
acquiring and developing tract of
10000 acres Of coal and timber lands
lying on the Log Mountain and Clear
Creek. between the cities of Pineville
and Middlesboro, in Bell county, Ken
tucky. The price TO be paid for the
property Is 81 SOC. .ooo-leaying 500 900
stock IN the treasury. a portion OF which
is TO be sold TO provide means for build
ing railroad, coke ovens. etc. The pros
poets of the new company are cons ID
cred very fiattering. The timber on the
tract IS estimated $3.50, ,00o, 900 feet. con-
sistlng Of yellow poplar lwnltewoodl \,
white oak, chestnut, red oak, chestnut
oak, hard maple, ash, hickory, cncDm-
ber, locust. Eastwood, cherry and black
walnut-in quantities about IN the order
as named-xnd Will doubtless yield
more than the cost Of the entire prop
erty. Ninety per cent. OF the land is
virgin forest-carrylng, according 10
the estimates of various experts, from
$1,000 To $1,000 feet (average) per acre
of the anove mentioned species OF mer-
chantable timber--in addition 10 j con-
siderable growth Of beech and hemlock
valued at present only for local and
mining purposes. The timber is Of an
unusally healthy and large growth, and
on completion OF the railroad IA miles,
can be manufactured anc marketed at
a very handsome profit.
Principal Value is IN Coal.
The principal value of the property,
however, lies IN its coal. The company
acquires almost the whole of the fam
Gus LOG Mountain" district, which rs
now considered to be the center and
richest portion Of the whole southern
Appalachian coal field. They have
about thirty feet of coal veins, of good
workable thickness, one above the
other, and all above drainage and with
a gentle dip toward the clear creeks (of
which they own about eighteen miles
in lengthy and the analyses show Goals
OF exceeding rare purity, especially for
coke making, and also for steam and
domestic uses. The lower VEN. being
only eighty feet above the creek Level,
is eighty.six inches thick, being fifty
two inches solid, of a magnificent
camel coal, and thirty-four inches
batuminous, with only one
inch parting mineral charcoaD.
This vein is Of great value-as every
foot in thickness means 1000 tols to the
acre. Above this vein are several of
about four TO five feet ID thickness, ali
80 situated that they can be mined with
i, all ct.t@
GENTLY to Yard the creek 20 that the
coal and water Will come out by It's own
gravity, no hosting or pumping ma
chinery whatever being required,
empty cars beng hauled into the mines
by mules. The company proposes TO
lease its coal mines, farms, clay beds
and quarrles on royalty, and sell It's
stumpage, and is prepared TO offer spe-
cial inducements for the location of
furniture and other wood working es-
adjustments, tanneries, coke ovens.
This is the nearest coking coal to the
great IRON deposits of North Carolina
iron furnaces, etc. They have several
beautiful town and village sites, which
will be laid out and developed as the
growth and demand may require.
Systematic Developments
They will retain control of all the
water supplies for manufacturing and
domestic uses, and purpose carrying
out a systematic development OF all the
resources of the property. The follow
ing gentlemen are interested IN the
company: Dwight Cutler. president of
the First National Bank. of Grand
Haven. Mich; Dwight Cutter, Jr.;
Messrs. Charles E. Wyman and Thomas
Cairns, also of Grand Haven; g. r.
Stearns, Esq, president of the Northern
National Bank, of Big Rapids. Mich;
Chas. F. stearns, Harvey p. wyman, of
Grand Rapids; J. Platt Underwood,
OF Chicago; l.. J. Cody, Of ssult Ste.
Marie, Mich; Henry Idems, Grand
Rapids, and +. A. Hall. of Danbury,
Conn. Following are the directors OF
the new company: MessFs- Dwight
Cutler, Dwight Cutler, Jr., III. 7. Wy
man, l.. j. Cody, Thomas Cairns. j.
PIstt Underwood and +. A. Hall. on
GERS for the first year: +. A. Hall,
president; II. +. Wymsn, vice-presi-
dent; Thomas Cairns, secretary and
general manager; Dwight Cutler, Jr.,
treasurer. The company IS TO be called
the LOG Mountain Coal. Coke and
Timber Company" with principal Office
at PIneville, Ky.