Freeland tribune. (Freeland, Pa.) 1888-1921, 1900-08-27
COAL WILL BE THE KING
Millions of Tons of American
Fuel to Go Abroad.
BIG SYNDICATEs ARE FORMING.
international Combination of Berlin.
New York and Philadelphia Capt.
tnIists and Other Corporntions-Re-
cent Land Sales Reach $5O,OOO,OOO.

cent Land Sales Reach $50,OOO,OOO.
New York Aug. 27.-The Herald pub
fishes the following from its London cor
respondent:
THAT many million tons of coal from
the mines of PENNSYLVANIA and the Vir-
ginias are soon to be coming across the
Atlantic to compete in the ports of Eu-
rope through the scarcity and high price
of British coal is the opinion of many
shrewd American investors who in their
travels abroad this year have measured
the seriousness of the European coal
crisis.
''These Americans returning home are
convinced that England's great coalfields
which so long supplied the needs of Il
large part of the world are fast running
out and that America, with her great un-
developed resources, must now actively
engage in the coal trade of the world
80 convinced are these American OBJ
servers that the present crisis in the
British coal trade has been brought on
by conditions which will grow worse day
by day that they are buying up great
tracts of land in the Pennsylvania and
Virginia coal regions.
''In anticipation of the forthcoming
European demand American coal carry
ing railways like the Baltimore and Ohio
and the Pennsylvania are adding hun
dreds of thousands of acres to their hold
ings.
Capitalists who never before bought
an acre of coal land are now making big
purchases. Much land now being ac-
qured away from railways will be held
to await the European demand.
within the last few weeks score of
purchasers have expended nearly $780,
100000 taking up coal lands in Penn
sylvania, Virginia, Ohio and Illinois.
international Syndicate Formed.
zone of the largest purchases has been
made by syndicate of New York, Phil
adelpha and Berlin capitalists, who have
paid S500O,000 for 104 900 acres.
Senator Depew told me before he sail
ed for home that the New York Central
Is not interested in this syndicate.
"As far as | can learn this international
syndicate will hold its lands for foreign
trade.
"Another syndicate, made up of Pitts
burg capitalists, has made a $1,000 600
purchase. A Philadelphia traction syn
dicate is also heavy purchaser.
shortly before he left for Europe. l
am told, Mr.. Z. A. b. Widener and Mr..
w. l.. Elkins paid 81 100000 for val.
liable coal tract. Mr.. Elkns told me in
London this week, however, that while
this purchase had been considered in
Philadelphia it was not made.
"The Philadelphia syndicate is a large
user of coal, but for its own needs it is
improbable it should be buying coal lands
in million dollar parcels.
Buying Coal Lands.
"Then NJ. John w. Gates, who as
maker of steel knows the value of coal
bought 100000 acres of coal land just
before he left New York in the spring.
His purchase was speculative, and he
will hold the land for rise. If the coal
crisis here becomes sufficiently acute,
he may go into coal mining on his own
account
"Mr. Gates is firmly convinced that
American coal will soon be pouring into
Europe.
''Mr. John e. Berwind has invested an
additional half million dollars in coal
lands. His company is already making
large shipments to Europe.
THE Pennsylvania railroad, it is also
told me- has just bought lands along its
line at an aggregate cost of $7,000,O00
The prices paid for these lands vary from
$15 to Sl,500 an acre.
zone purchase of 10000 acres in Penn
sylvania put 100000 into the pockets