The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-31
TOCONTROL THE PHOSPHATE
The -Four Companies Working the Peace
River Consolidated.

River Consolidated.
The Peace River Phosphate Mining
Company Organized at Savannah
With Capital Of 81, 25O,ooo-Joseph
Hull, President, and II. II. Conner OF
Savannah and Col. George W. Scott OF
Atlanta Among the Directors - The
Company Controls Ninety Miles of
the Bed Of Peace River and "a 900
Acres Of Phosphate Land-Its Product
in Demand on the Continent.
The organization Of the Peace River
Phosphate Mining Company has been
completed. The company has a capital
stock of Sl25O,O00. already paid in, with
permission to increase the capital stock
10 $4,000 if desired. Mr.. Joseph Hull is
president Of the company, and it's head
quarters will be in Savannah. Announce
ment was made in the Morning News sew
eral days ago Of the granting of the char
ter to the company The company organ
ized by the election of the following Off
GERS and directors:
President-Joseph Hull Of Savannah.
Vice Presidfnt-M. f. Knudson of New
York.
Treasurer-R. W. Patterson of New
York
Secretary and Assistant Treasurer-H.
r. Richmond Of Savannah.
Directors-George W. Scott Of Atlanta,
ii. NJ. Conner, Joseph Hull and H. NJ.
Conner. Jr., of Savannah, r. W. Patter-
son and NJ. +. Knudson Of New York.
Although very quietly conducted, the or
sanization of the Peace River Phosphate
Mining Company is the most important
move in phosphate circles in many
months. The company is a consolidation
of all the companies now operating on
Peace River-the Peace River Phosphate
Company, the De Soto Posphate Mining
Company the Arcadia Phosphate Com
pany and the Charlotte Harbor Phosphate
Company The new company controls
about ninety miles of the bed of Peace
river and the adjacent valley, amounting
sn all to about $4,000 acres Of phosphate
land. The territory Of the company begins
at Bowling Green and ends at Charlotte
Harbor, Punta Gorda being the shipping
point.
The organization of the Peace River
Phosphate Mining Company is not merely
a combination of the four companies
named for purposes of mutual benefit, but
the properties of the four old companies
are acquired by actual purchase. The
combined capitalization of the companies
which have gone out Of existence was
largely in excess of that of the new COM
pany, showing that there is no water in
the stock of the new organization. OF
the four companies which have gone out
of existence, the Charlotte Harbor and
the Arcadia were Savannah companies.
The De Soto Company was organized by
Col. George w. Scott of Atlanta, and had
been longest in operation. and the Peace
River company was organized in New
York, Messrs. Knudson and Patterson
being the largest stock owners. The out
put of. these four companies for the pres
ent year is about $4,000 tons Of pebble
phosphate, the greater part Of which has
been marketed in Europe. AS explained
by Col. Scott and Mr. Hull. the Peacd
River pebble phosphate is in great demand
by the European manufacturers because
of the fact that it yields a larger pro-
portion OF soluble phosporic acid than any
other grade Of phosphate on the market.
Naturally it commands a good price. The
our companies engaged in mining this
hosphate found that they came in very
serious competition with each other in
the markets which was taken advantage
of 3by the manufacturers and that con-
Ee9uently the prices obtained We're not
always what they should have been while
the Expense of putting the product on the
market was materially increased by rea-
son df the competition.
The idea of combining all the interests
engaged in this particular branch of
phosphate mining was first suggested bv