New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-12
ANOTHER BIG COAL "DEAL."
NOVA SCOTIA MINES TAKEN IN



TO BE HURT BY FREE COAL BILL.
Halifax, n. s. Jan. lit Is reported on god
authority that coal magnates of philadelphia act
ing with the Canadian Pacific Railway, have about
closed a deal. by which almost the entire coal fields
Of Nova Scotia are to pass under their control. The
combine" II is said has ST., O0O,OOO TO invest
In the project. Tie Nova Scotia Legislature has been
called to meet next week to ratiiy the bargain.
weknown fnanccr says Of the scheme
This consolidation Of Nova scotia mining com
pancs Is the outcome o. the combination OF the
anthracite coal carriers In February. 1892. and the
anthracite men are believed TO be backing this new
deal TO protect themselves against competition In
Nova Scotia coal in the event OF the Democrats abol-
lshinG coal duties
President Mcleod. of the Reading system. is said
to have been active in the matter lately. The New
York and New. England is also In the deal and
Mr. Mcleod has pooled his Interests with Frank Jones
OF the Boston and Maine road. II Is believed that
through Mr.. Jones the Canadian Pacific comes into
the project. The recent visit Of President Van Horne
Of the latter road TO Boston, where he was In close
consultation with President Mcleod and the New
York and ew-Engiand officials. 4, mentioned ms good
ground for the belief Of the Canadian Pacihcs IN
terest In the "combnc.'
The Finance Company. Of Philadelphia with George
H. Earle r.. as president viii control the coal pro
duction, and the coal carriers have reached thpr1ug
understanding as to rates to the lakes and the At
laniic scaboard.
II has been reported that new company was To
have long lease OF the Cape Breton min"s-slNy or
ninety years. Mr. Fielding. Provincial secretary for
NovIa Scotia was in Boston "A fortnight ago Ilc ad
ms in an interview. that an extraordinary session
Of the LEGISLATURE the 10Th has teen called 10 con
firm the deal with the American syndicate.
Philadelphia Jan. LITTLE reported purchase OF
Nova Scotia coal fields Ly Pennsylvania coal Operators
the Reading Railroad Company and others. could mol
be actually confirmed here. but bat such deal has
been consummatcd IS generally believed In financial
circles When President Mcleod was asked II The
coal fields Of Nova Scotia had been purchased ara u
the Reading was IN the deal hr only replied; &C.
have nothing 20 say" As it has been Nj. M'Leod'>
nvarale custom u deny IunOrs concerning the Read
ing when they were without foundatipn his refusal 10
oil her DENY the NOva scotia story leaves the incrrc"
tina, there Is some truth IN H. George T.. Earle, IT..
president OF the Finance Company, oil pennsylvania
said that Ae knew nothing about the reported d" ~
NE COMPANY Lad not been approaf he'd IN regard
10 the matter \ gentleman prominently lnl'r'-l'i
I'm Inc recent coal deals bu who did not Wish Us name
used stated that he believed that the NOVa HcoIa lHs
] nation to that effect lie also believed finl VI" -
| nance COMPANY wOnld be the fiscal agent OF ID" com
hlnat,on rs the whole tendency Of III" railroad com
nanics IA 10 divorce he coal producing prl 81 Tier
business from their traffic and passenger business ana
give Il for management into The Land, Of responsible
| finance companies. - -.
MI &c said that William G. whitney. % New York !,
largely interested I'm the Nova Scotia deals and ilI'
his brother Halifax some tim" ago 20 complete
| the final negotiations OF the sale