Albuquerque daily citizen. [volume] (Albuquerque, N.M.) 1895-1903, 1900-03-31
CRESCENT COAL MINES.
Big Transfer Of Gallup Properties
to Capitalists.
POSSESSION TO re ON NEXT MONDAY

About a we kago The Citizen, from
outside sources, was put into posses
sion OF facts that lead VI TO believ that
the Crescent Coal company, operating
coal mines at Gallup. "A been pur-
chased or would soon be, by the Col
Grad Fuel a Iron company. Local
members of the crescent company were
seen about the reported sale, but seem
lngly, they were surprised, or in other
words. did not care TO give out the i'm
portant and desired Information.
The following article from the Dem
yer Republican, March 80, tells the
story of the sale:
A deal involving hundreds of thou
sands of dollars. in which money OF Of
ncials of the Colorado Fuel & Iron com
pany and OF New York capitalists will
be invested, will be closed in April.
when the American Fuel company, a
new organization not yet Incorporated,
will become owner OF three mines at
Gallup, N. NJ, now the property of the
Crescent Coal company. operating In
opposition to the Colorado u a. Iron
comapny. The mines have al output
OF about 800, 900 toni a year. all Of
which il put on the market In New
Mexico, Arizona and California. The
Zeal means that the Colorado Fuel *
Iron company will secure practical con
troll of all the Goa mines In the Gal
lup district, except those operated by
senator w. A. Clark. the C~aledonlan
and the Rocky Gin Goa companies.
Among the Denver capitalists inter-
aufAI In tho Iaal KaVIar
general mage of the Colorado Fuel
q Iron company; A. c. Cass, vice presi-
dent OF thesame concern, and John l..
Jerome, Its treasurer. The fact that
the capital Is practically the same mon
ey that controls the Colorado company
Ii considered sufficient evidence that
the Colorado company la captured a
prize coward which 1t In aid its eyes
have been turned for a long time. The
officials OF the company. however, deny
that the Colorado Fuel a. Iron company
as an organization, Is behind the deal.
and assert that its officials are making
only "A private investment. The deal
is Of such importance that Mr.. Keb-
Ter is now In New Mexico, presumably
going over the ground and closing
all preliminary arrangements 80 that
there may be no hitch in the dal.
Negotiations have ben wei under way
for "A long time. but was not finally
put on the road to completion until Nj.
w. Flournoy, a banker at Albuquerque,
n. M, came to Denver a few days ago
and went over the plans with the In
terested officials Of tn COLORADO Fuel x
Iron company. Even fater all arrange
ments had been made the utmost Sc
crecy was enjoined upon all. concerned,
and II was intended to complete the
transfer without publicity. Vice Pres
ident Cass OF the Colorado Fuel & Iron
company said last night:
II is true that negotiations are under
way for the purchase OF the Crescent
mines, not by the Colorado Fuel a Iron
company. but by the American Fuel
company, in which some OF the indlv-
lduals Interested In the Colorado Fuel
* Iron company ave invested. The
transaction has not been completed,
and until 1t has | have nothing further
to say"
Mr., Jerome verified the report of tn,
deal, but emphasized the statement tina.
the Colorado Fuel x Iron company wa
not connected with IL except as II Il
represented by individual stockholders
Whe. asked what constituted tn.
American Fuel company he smiled an
sandid that the company had not ye
been incorporated. An officer of tn
Colorado Fuel Il Iron company, said:
while the American Fuel compan
and the Colorado Fuel n Iron compan!
will not exactly be one and the sam
thing, they Will not clash-you can be
on that. The capital is largely Den
yer money-invested by officials OF tn
Colorado Fuel & Iron company-whil
the rest II from New York. The dea
Will result in valuable Improvement
r In the propertyan consequence benefit
10 the people OF Arizona, New Mexic
2 and California, who consume the out
put OF the mines. The deal posltlyel
: viii be closed April 2, and all plan
have been made accordingly"
1 HERE IN TRR CITY.
. j. A, Kepler, general manager Of IN
Colorado Fuel a Iron an
, Capt. Robinson. in charge OF the ste,
t department OF the company. reache
the city last night, and to-day hay
( been In consultation with the Ioca
r members OF the Crescent Coal con
e paDy. This afternoon, w. II. Hahn, n
3 well-known dealer in Cerrillos an
Crescent Goals on First street. had n
two gentlemen part OF the time
charge,
p The Nashville students.
owing to ar unusually large amour
alAN NAnaN 80