Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1900-03-07
OUR COAL DEVELOPMENT.
Remarkable Advancement Be-
ing Made in this Direc-
ton.

II Has Just Begun but has Reached
Enormous Reasons of
the Heavy Investments that are Now
Being Mado-Foreign Factor in the
Movement.
As remarkable as has been the stride
of West Virginia in the development
of her coal resources it may be said
to have just begun says the Intelli-
gencer. Hardly day passes without
chronicling the purchase of large
tracts OF coal lands, and this fact is
quite interesting taken in connection
with the assertion OF the Pittsharg
correspondent of the New York Coal
Trade Journal, who says: There is
no longer doubt that the money that
is being SO extensively invested in
coal lands in Western Pennsylvania
and a large area of West Virginia is
+ English capital
The reasons given for such heavy
investments in coal lands is said to be
because of a recognition of the fact
that henceforth the coal of the United
States is going TO be a more potential
j factor in the trade OF South America
on both coasts, and at all information
al coaling ports and stations, Behind
| it all is the fact that investment costs
are much lower here than abroad, that
mining operations are much less ex-
pensive, and that the coal is equally
efficient for all purposes, while ship
ping rates to seaboard are less, dis
lance being considered, and that by
] lines of colieries owned by the coalpro-
/ ducing companies, vast internation-
al trade can be developed that will be
highly profitable for the capital in
! vested.
There are many factors that are not
as yet observable to the superficial
| that are all operating TO make OF
western Pennsylvania and West Vir-
ginia the most important industrial
sections of the Western Continent,
! and those who are interested, either
i from the viewpoint of investors or as
merely spectators, will find it protita-
! bic TO keep a scrutinizing eye on the
/ Developments of this section for some
time to come. Events big with fate
are imminent
While is is undoubtedly true that
/ foreign capital is largely investing Ia
enterprises in West Virginia, it is also
| true that her own capitalists are put
! ting in their good money. West Nir-
ginia coal is as good as the best, and
| it has the advantage of being mined
cheaper 1t will not be many years
/ before Pennsylvania will have TO look
sharply to her prestige as the largest
coal producer in this country. We
are creeping up to her at very rapid
pace.
There is another factor in this ac-
/ tivity to which the Intelligencer re-
ferred short time ago, and that is
the coal famine in Europe, which is
assuming serious proportions. A
trade writer at London, discussing
passing developments, says of the
British coal industry:
Coal shipments from the United
States to European ports are being
| considerably increased as the direct
outcome of the great rise in prices
lately witnessed in this country.
American coal producers and export
ers with characteristic energy, are leay-
| ing no stone unturned in their efforts to
take full advantage Of the present OPP
portunity for pushing the sale of their
coal. Agents are being dispatched
| from the other side 10 some of the
principal European countries, in order
to secure contracts by quoting lower
prices than are at present asked by
English firms. But European coal
consumers are hardly likely to contract
extensively at the present figures. as
many consider that lower prices are
! inevitable in the near future, and con-
seQuently will only buy sufficient
quantities to meet their immediate
requirements. There are SO far no in
dications of any resumption of the
| importation of American coal into
England, which was arranged at the
time of the Welsh coal strike, but II
there is no considerable rise in freight
rates from America, it is by no means
unlikely that the business may be car
ried through again Somehow, Amer
lea seems to be the only country just
now not pinched for coal. Very much
what we are experiencing is being ex-
perienced by Germany, where prices
have been raised enormously, and
where the Rhenish- Westphalian syn
dictate find their resources overtaxed.
1t is said that it is with the greatest
difficulty that they are able TO keep
the railways and big consumers sup
piled. In Austria a positive coal
famine has been proclaimed.