The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-01-29

The prospectus OF the Wheeling Con-
solldated Coal Company, which win ae-
qulre the plants and coal holdings
Of the Glendale, Bogg's Run and Elm
Grove Coal companies, together with
about 5000 acres OF coal land in Ohio
county. has been Issued. and shows
the full scope Of the enterprise.
The company proposes to Issue
100000 In capital stock and Goat a
bond issue Of 100000. The bonds will
be secured by trust deed on all the
mines and other assets, and the Trust
Company OF America, New York, Will
act as trustee of the mortgage for the
bondholders. The issue OF stock and
bonds Will be used to acquire the mines
mentioned. opening new. mines, work.
ing capital. expenses of organisation.
etc.
The officers and directors are as fol-
lows: David Bennett King, of New
York, president; ]. A. Miller, OF Wheel
ing, vice president; John n. Birch, Of
Wheeling, treasurer; w. N. Dunlap, Of
West Alexander, Pa, secretary; direc-
tors, L. E. Sands, of Wheeling; G. w.
Darr, Of Pittsburgh; ]. v. .Thompson,
Of Uniontown, Pa; w. H. Hearne, OF
Wheeling; T, M. It. McKenna, of Pitts
burgh; j. II. Noble. of Claysville, Pa.
The company is organized for the
general purpose OF operating as an or
ganlzation the coal fields in and about
this city. In all Its holdings 1t has coal
aggregatlng 1OO,OOO.0OO tons, which
would enable a daily output of 5000
tons for fifty years. The home market
at wheeling now consumes 1000 tons
daily, and new manufacturing enter
prlses proposed will require several
thousands tons additional The COM
pany proposes opening new mines and
introducing modern machinery. In part
the prospectus says:
"The industries located in and near
Wheeling have been exceedingly pros
porous in recent years, in consequence
of the advantages of location.
with the development and pres
perlty of these industries the market
for coal has greatly increased. A care
full canvass shows that over 1000 tons
of coal are used daily in the local mills,
factories, brewerles, railroads and for
domestic and other purposes in the
Wheeling district. The amount used is
certain to largely increase for some
time to come.
wheeling is much nearer the great
lakes than the majority of mineD which
supply that market, and 1t has lower
freight rates. The Wheeling & Lake
Erie and Cleveland. Lorain & Wheel
ing railroads, connecting the lakes with
Wheeling, bring about 500 cars OF ore
per day to the Wheeling mills. From
$50 to 800 Of these cars are now sent
back empty. An ample supply Of cars
is therefore available for shipping this
coal to the lake markets.
.The location of this coal property
on the Ohio river from 100 to 1875 miles
nearer to the lower river markets than
the Pittsburgh and MOnongahela mines
with mucu better navigation and for
a longer yearly period. makes it espec-
Tally. available for sale in the lower
river markets.
"The coal mined in this district is one
of the best steam and heating Goals in
the United States. The Baltimore &
Ohio railroad engineers prefer 1t to any
other, and some OF the most prosperous
Wheeling manufacturers claim that
their success has been due in a great
measure to Its superior quality"