The times. [volume] (Richmond, Va.) 1890-1903, 1901-03-16
A GIANT TRUST
IS BEING FORMED
An Effort 10 Control the Soft Coal
Production.
MUCH PROPERTY BOUGHT.
Many Thousands OF Acres of Coal Land in
fbc Kanawba and New River Fields
Acquired-Transporta-
ton News.
MUCH PROPERTY BOUGHT,


were nightly interested yesterday in
the news of the formation of the big
Eest coal combine in the world for the
purpose of controlling the output of the
Kanawha and New River coal fields. The
combine. is headed by John w. Gates, the
stcel-Hire king
The preliminary steps IN the Ioiiiid-
ton of the combine have been taken an
immense amount of property has been
purchased. and is being held until the
company is formed and chartered
The Carkin property on the hanaWhsh
River above Charleston. Nv Va, mas
been acquired. II consists of 6,2'o acres
of what is regarded as probably the pest
conl lands in West Virginia inc Piiee
,,aid. was $4,000 in cash. The deposits
10. .,rc.dy been extensively developed
The Marrnet coal interests in the Mana
yha, and New River fields have also beeh
practically acquired, together with inc
i,nncnse terminals of that company AT
Cincinnati. The Marmet property. con-
sisting of 5000 acres, is probably the most
extensive in West Virginia inc prce
is si25. 600. Negotiations are pending LOT
The purchase OF q number OF other mines
The proposed combine has many mil
lions behind it. Terminals in New Or
leans have been secured. and "a meet "l
barses will be put on the kanawha TO
transport the coal from the mines. Iherc
Is a railroad on the Marmet property
The soft coal combine is not on so large
a scale as the steel combine, but II does
not require a great stretch of imaElna-
ton to foresec q. time when 1t may al
most equal 1t in magnitude The COM
bine IS apparently destined TO become the
most important factor in this country in
the price of soft coal.
The action of the Chamber Of Com
1nerce. Thursday. urging Richmond deal
eTs To import directly to Richmond. has
created interest in commercial circles
generally, and it seems likely that it
may lead TO something interesting and
important.
Richmond should become the home OF
several importing houses said promi-
rent commercial man TO a Times writer
yesterday. In the first place. she is
practically on salt water. With Newport
News only eighty miles away, Richmond
houses could handle import goods practi-
caIly as easily could Newport News
houses. The Chesapeake and Ohio is Ii
cease5 to carr goods in bond, and SO is
the EcLmono. Fredericksburg and Poto-
mac and Pennsylvania, which would
ADMIT of goods being imported through
New York to Richmond, where the duties
could be paid
Put 1 am specially anxious to- have, i'm
porting houses established jill Richmond
TO handle goods brought in through
Newport News. ] want TO tell you Il few
things. In the first place there arc Il
great many things sold in this country
which arc imported almost entirely
This is especially, true of certain kinds
of laccs, fine china, dolls, toys, bric-t-
hrac. voollcns. linens and other things.
Practically all of these now come
through New York. ] have investigated
I hot jpla,t, n
importing houses could supply the en-
tire import trade along the Chesapeake
and Ohio as far west as Cincinnati.
Transportation charges between Rich
r1lond and Cincinnati are less than be-
tween New York and Cincinnati. Indeed,
] am OF the opinion that foreign goods
can be brought 10 Richmond via Newport
News in bond, and Tcshipped at less
cost than they can be brought TO St
Louis, say, via New York Newport
News is not large enough to think CT
making it the headquarters of importing
houses. Richmond IS already the home
Of a large number of wholesale firms
supplying Southern houses. There is no
question that dealers in imported goods
in Charleston, Atlanta and other South
ern cities can be supplied Tar more
cheaply through Richmond and Newport
News than through New York. as at
present l have every reason TO believe
L
that the dealers of The South. all things
else being equal, would gladly buy from
importing houses located in Richmond.
Tho new thirtv-ton crane that The
Chesapeake and Ohio has been puttin:;
I'D on Pier s. at Newport News, is
Almost ready fer use Whsn = is finished
:he, company's facilities for !oa;-ing and
unloading heavy freight will be unsur-
passed anywhere. The next consignment
of locomotives loaded at that point will
he swung aboard ship at the piers, in
stead of at the shipyard, which was
necessarily the case when the first lot
were exported. The crane Will be useful
IN unloading as we'll as in loading shiFs-
Several Norfolk and Western employees
living at Crewe have recently been dis
charged for frequentinG barrooms. 1t
is said that call boys have been instruct
cd by the superintendent OF the road
not to call ANYBODY from harrooms or
go there for them.
The Chesapeake and Ohio steamer