The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1892-03-18
4 GREAT COMPANY.
rHE MONARCH COAL AND COKE COM
PANY ORGANIZED AT FRANK
FORT, ky.
1t is Oh the Co-operative Pian-A Large
Body os Coal Land in Eastern Kentucky
TO he Deve.oped-An Interview With Mr.
W. Harris

| II Is Oh the CO-OperatiVe Rian-sA A'HF -
Body os Coal lane: in Eastern Kentucky
to he Developed Interview With Mr
w. s Harris.
A Posr reporter interviewed Mr.. W. Il
/ Harris Yesterday about the organization
Of The Monarch Coal and Coke Company
When asked f.thc Organization had been
COMPLETED Mr.. Harris said:
Eyes. this company was org anized al
Frankfort, Ky, on the 26th OF February
1892. for the purpose of purchasing and
operating $4,000 acres of the best coal ter
ritorv in the South. The property is 10
Gated on the Big Sandy river and tribu-
I taries thereof in Pike county. Ky 1t con
,ains thirtv-eight and a-half feet of work
able coal, measuring above drainage, and
| is without doubt one Of the most valuable
coal properties, all things considered, in
the South"
g "What is the character Of your coal!
"Our coal is combination of gas, do
nestle and coking Goals. The property
contains the famous Elkhorn seam fcok-
ing coal seven feet thick and equal IN
every respect TO Conpellsville and Poca-
| hontas. Above this scam we have SIX
foot seam of domestic coal. while thIrd
seam is composed of thirty-three inches
Of camel coal, with forty-fve inches or
bitumnous coal above. This camel coal
according to the ANALYSIS made by some Of
the best experts OF this country, is su-
peror gas coal and will bear long ship
ments. The territory has been thorough
" examined bv Prof. John r. Proctor, of
the Kentucky Geological Survey and by
VIM. J. Love, an English coal expert
thoroughly familiar with this section.
Their reports and ANALYSIS of the coal and
coke are contained in full in the prospcc-
tus which hand YOU. The parties con-
stitutinp the officers and board OF direct
ors are we'll known, and have unlimited
faith in the development, of the section.
The capital stock Of the company, as you
will sec from the prospectus is $60o,oO0,
divided into shares OF $l2 each; such $l2
shares rcpresenting one acre OF coal. Inc
stock is sold at $l2 payable cash at
time Of subscription or 81 90 cash on ench
share of stock subscribed for and Ti.oV
thereafter on each share monthly until
paid. Of this amount $1,000 is used IN
paving for the land and s. 90 is placed in
| the treasury of the company as developing
capital"
sWhat is your immediate purpose"'
GAS soon MS the property is paid for VIC
nroposc to commence developing it. There
will be almost an unlimited demand for
coke and coal in the Hanging Rock dis
trict There are v-four furnaces in
and around lronton, Ohio, which can be
supplied with coke from this property
cheaper than from any other section OF
the country. They consumed last year
over two million tons of coke, the bulk OF
which came from Connelsville, Pa, which
is over two hundred miles further from
the furnaces than the property IN ques-
| ton.
"What are your facilities for reaching
the market -
"a number Of railroads are pointing in
the direction Of this property The Elk
horn extension Of the n. 4 ". is rapidly
nearing completion. 1t will pass within
fifteen miles Of this property, and branch
line can he built up Peters Creek from
the n. & ". r. Il. TO this property as
cheap rs any road in the mountains. The
Ohio and Big Sandy railroad running
from Ashland on the Ohio river up the
Biz Sandy river to Il point within forty
five miles of this property, is surveyed
through the property and will be built at
an early date. The &c railroad on which
over $4,000 ,OOO,have already been spent
will pass through the heart of this proper
ty when completed, and the Big Sandy
river is nayigable up TO the immediate
vicinity of this property, which lnsures us
cheap transportation by water.
"How are your titles| asked the re-
porter .c
This land is situated in four diff
fcrent blocks and was bought directly
from the people who live upon it, they
having derived their titles from the Com
rnonwealth of kentucky. 1t is not held
bv any blanket patent, and there are no
souaticrs nor adverse claimants upon it.
Col. Chas. NJ. Parsons, General Counsel
for the company, for twenty years resi-
dent and practcing attorney, in Pike
county. and one Of the most prominent
LAWYERS in Eastern Kentucky, has made
an abstract of the titles and reports them
perfect. .r
mWhat do YOU think your stock will be
worthy
"Whcn railroads are completed to the
nroperty the value of the stock Will neces-
snrily be increased many fold. Think OF
buyjne an acre of land which contains
IS. $50 tons of workable coal above draln-
eee Cor SIP. Now after making due. al
lowances for losses in mining and crosionS
mode nv streams, we would have, on a
most conservative estimate. 2S,2oO tons
of coal ner acre This coal IA! ten cents
ner ton. the lowest ROYALTY paid amounts
TO ~. So. 80. This YOU will understand is
at the lowest royalty paid.
"You don't mean than one acre at Sl2
will produce $2,S25 profit to the share
holders?"
"Certanly And YOU must remember
that This is on the basis of the lowest roy
atty paid for coking coal; whereas camel
and gas coal will always bring much
more
"Do you find any trouble in making
leases"
.There will he no trouble whatever
when railroads are built into the property
Of leasing it to responsible parties on the
terms | have stated Of course the profits
would he much grenter where owners OPP
crate the mines themselves
"Have you offered any stock tor sale
.setS"
Eyes. Quite an amount of stock was
ksubscribed for at Frankfort on the day OF
the organization, lreceiyed a letter from
Mr.. Love, the general manager, Yesterday,
stating that quite on amount of stock had
been disposed of and from present lndica-
tions 1t would be all taken within the
next sixty days" -.