The star. (Reynoldsville, Pa.) 1892-1946, 1896-05-13
AN IMMENSE COAL DEAL.
THE B., L. & Y. c. M. CO. WORKS
WERE SOLD FRIDAY.
A New York Syndicate Purchased the
Property in the Interest OF the
r. & p. c. & I. Co.

The people of Reynoldsville have sus-
picioned for several weeks that there
was some kind OF deal on the tapis In
the immense coal works at this place,
know what was going on were "mum"
about IL and the nature Of the deal was
not generally known in Reynoldsville
until the Pittsburg papers Of Monday
announced the facts. A representative
Of THE STAR called at the company
Office in this place yesterday to learn
the particulars Of the sale. but General
Manager Elliott was in Buffalo, N. Y,
and the subordinate officers were not
loaded with the information desired.
Il was their opinion, however, that the
Buffalo Express statement was about
correct, and we clip the following from
the Saturday issue Of the Buffalo Eg-
press:
This immense deal, representing mil.
lions In money was brought 10 compile
tion in New York late on Friday after
noon. The terms of sale cover all the
property Of Bell, Lewis & Yates and Of
Bell & Lewis In Pennsylvania and New
York, comprising coal lands, mines in
operation with equipment, railroads,
| coke ovens, company stores, etc. The
coal lands cover 1900 acres in Jeffer-
son and Clearfeld counties, Pa. OF
these, four-6fths are held in the fee
simple, while the other fifth is con-
trolled by lease which is practically
perpetual.
The mines are the Soldiers Run,
Hamilton, Sprague, Broadhead. Henry,
Sherwood, London, Rochester and San
dy Lick. They have n capacity Of $1,000
tons daily. Besides the mines there
are 100 coke ovens. The four company
stores owned by Bell & Lewis are also
included in the deal, and several hun
dred miners houses as we'll.
The railroad mileage which passes to
the possession of the Rochester & Pitts
burg Coal and Iron company is 30 miles.
The roads are the ReynOldsvile & Falls
Creek and branch called the Falls
Creek. Tho lines, which are, of course,
mining roads. connect with the Buffalo,
Rochester & Pittsburg, the Erie. the
Allegheny Valley and the Ridgway and
Clearfield. With the road go the en-
gines, cars and all the equipments.
Possession of the property will be
given to the new owners on May ID.
The negotiations which led to this pur-
chase had been going on for at least
two months. The moving spirit in the
affair was Arthur G.. Yates, president
of the Buffalo, Rochester & Pittsburg
| railroad In the interest of which con-
cern the stock Of the Rochester & Pitts
burg Coal and Iron company is held.
The consolidation of these two great
interests with Mr.. Yates at their head
will make him one OF the foremost, II
not the first, bituminous coal man in
this country.
was bought by syndicate OF New York
capitalists in the interest of the Roches-
ter & Pittsburg Coal and Iron company.
Just who these men are does not appear,
but they are, without much doubt,
identical with the chief holders of stock
| in the railroad and mines for which the
property was bought. The purchase
price could not be learned exactly, but
the amount was between $1,000 600 and
| 81, ,000 900.
The consolidation Of the two largest
coal-mining companies In the Reynolds
| vile region, of course, means good
| deal. 1t means that instead of rivaling
each other, as they have for sometime,
they will be conducted as one concern
for the benefit of both, and with re-
| duction of expenses. H. also means that
Mr.. Yates has secured for the railroad
Of which he is president II steady, large
and sure tonnage. Lately good deal
OF the product OF the Bell, Lewis &
Yates mines has been shipped over
roads other than the Buffalo, Rochester
& Pittsburg. The output of the COM
bined companies win be $4,000 tons
daily.