New-York tribune., 1901-07-15
PLANS FOR SOFT COAL TRUST.
DELAY BELIEVED TO MEAN THEIR EN-
LARGEMENT-MANY INTERESTS
INVOLVED

CIeveland. July I4-"The Leader" to-day says
mat owing to certain expansions Of the original
plan having been agreed upon the formation OF
the soft coal trust may be delayed to give time
Tor the working out Of larger plans
The plan as now outlined by those who are the
inside provides close harmony between the pro-
oucing and the transportation companies. In the
latter are to be included both lake. rail and ocean
facilities of the largest proportions
1t appears that the purchase Of the Ohio River
Railroad by the Baltimore and Ohio was part Of
this scheme, and perfected, in way the control
OF the soft coal carrying facilities certain parts
OF Ohio West Virginia and Fattsburg district.
Inc same interests control. with the
sistance of the Morgan holdings all of the coal
carrying properties in this territory that ship coal
TO the lakes or to the East A fleet of ocean
going and lake vessels is to be collected under the
guidance OF the big combination which will be
distinctly trust boats II Is evident that more Of
an endeavor is to be made to sell the Pittsburg
and West Virginia steam Goals abroad than to put
them into competition in the Northwest with the
Goals Of the same company from Illinois and West
ern Indiana. The West being compelled TO provide
largely for itself in way of coal prod ucton the
fields Of Indiana and Illinois will be developed and
the mines recently discovered in Indian Territory
and that vicinity will be opened afford ma
terial for the western part Of this country.
Inc main hindrance to the expectation Of btu
minous coal has been the lack OF dock facilities
FOR handling the big boats which heretofore have
engaged in the coaling trade It Is the announced
Vi tne or the SOFT coal trust TO
puiid specific class of ocean going tonnage which
can be handled in the harbor at Marseilles and
other South European ports without the interven-
ton of lighters
Associated directly with this scheme is the pur-
chase of the Pennsylvania Steel Company by the
pennsylvania financial interests. which to be
handling the transportation end of the big soft
coal deal, while the Morgan interests take charge
OF the financing OF the absorption Of the producing
properties 1t IS said of the plants of the
Pennsylvania Steel Company is to he turned into
shipyard for the production OF ships Of specific
size. which will be able TO navigate the harbors of
Southern Europe and still carry enough coal to
make them pay.
Some have looked upon the Leyand purchase
the establishment OF nucleus OF this fleet, but
II is believed these boats have more to do with
the expectations OF the United States Steel Cor
poration products.
1t is said the financial interests which behind
the United States Steel Corporation forming
an underwriting syndicate to take care of the Sc
curities OF the big combination. and that this or
gsnization viii arrange for an issue OF $50 100000
OF trust securities These will be exchanged for
the stocks Of the six coal companies IN the West
which TO be included in the trust, and with
them will be some Eastern coal interests as well
The Western companies which to be purchased
are the Illinois Coal Company. the Hooking Coal
Company, the Monongahela Coal Company. the
Pittsburg Coal Company. the Fairmount Coal
Company and the Massillon Coal Mining Company.
There are rumors abroad that the Flat Top Coal
Company Is to be made part Of the large organ
ization.