The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-09-04
A MONSTER TRUST
WILL CONTROL COAL PRODUCTION
OF SIX STATES.
IN ITS CAPAcIoUS NAV.
COMPANIES AND OPERATORS WILL
BE GOBBLED UP.

with Capital of $500, 200, 900 and
$500, 900, 900, the Trust VIII Unite
the Coal Mines of Pennsylvania,
Ohio, Indiana, Illinois, West Vir-
sinia and Kentucky-J. PierpOnt
Morgan, quite as Usual, Heads the
Mammoth Scheme-RaiIrOads Are
in the DeaI-Options on Thousands
of Acres of Coal Lands Have Been
secured.
Pittsburg, Sept. 3.-The Post to-mor-
row will say: All the bituminous coal
mining companies of Pennsylvania
Ohio. Indiana, Illinois, West Virginia
and Kentucky are to be consolidated
into one great corporation by the j.
P. Morgan syndicate.
The enormous proportions of this
corporation can hardly be realized. The
fact that the Pittsburg Coal Company,
with its capital of $64000, 900, and the
Monongahela River Consolidated Coal
and Coke Company, with it's capital
of $50, 600, 000 are to be included in the
greater consolidation, brings the mat
ter strongly before Pittsburg coal op-
orators. These two corporations
practically control all the output in the
Pittsburg district and extend their
operations we'll down toward West
Virginia in two directions. officers of
these companies are expected to attend
a meeting of the coal operators in New
York on Thursday of next week, at
which the preliminary steps toward
the formation of the great combine
will be taken.
Other interests that will be repre-
sented from the Pennsylvania fields
will be from the Berwind- White Com
pany, the Newer Fairmont Coal Com
pany and a large number of smaller
corporations of this kind. Still other
interests to be represented will be from
Ohio, Indiana, Illinois, Kentucky and
West Virginia, where during the past
few months movements have been on
foot for the consolidation of the coal
interests of those states into state cor
porations for those particular fields.
The railroads are also taking a keen
interest in the project. and owing to
the Morgan interests predominating in
that field the consolidation is looked
upon as being unusually strong. The
Baltimore and Ohio Railroad Company
and Western roads all under the Nor
gan Influence are associated, 1t is said.
in the great movement which promises
10 rival in it's Importance the recent cr-
ganization of the United States Steel
Corporation.
The plans for the consolidation have
been going on quietly for some months.
The plan of action is said to have been
G~- lei
one state and the individual operators
into one company, upon the same basis
as the Pittsburg Coal Company. After
this has been accomplished the inten-
ton was to group all the companies
and control them by a parent corpora
ton as a stock-owning company only.
Ohio Fields in Good shape.
The combination of the Ohio fields
is said to have been brought into fair
ly good shape. The Indiana fields and
those in Illinois are also in form for
the final move as recent corporation
plans there have brought the many
individual coal interests together. In
Kentucky, the plan is still in an EN-
bryonic state. but a company has
planned with a capital of $4,000, 600 to
take up all the coal mines there. The
West Virginia fields are perhaps the
most difficult to handle, owing to their
location and varied ownerships. 1t is
said that the promoters have practf-
cally abandoned the plan of including
the Pocahontas field in the general
plan for the greater trust.
Mr.. Bacon. one of the active part
ners of Mr.. Morgan, has been spend
ing several weeks in West Virginia
during the past summer, and early last
spring. getting options on much coal
property, and included in this was
much undeveloped coal land in that
state. The total holdings in that state
are said to be very large and, aside
from the Pocahontas fields and that
portion in the Flat Top region, en-
brace about all available lands. and
much that will be held in reserve for
years.
The completion of this great project
VIII mean the consolidation of from
s2OO,000000 to $500, 100000 of invested
capital. This will represent not only
the undeveloped properties in the six
states, but also the actual coal prop
critics under development. There are
millions of acres of coal lands that the
greater trust will hold in reserve for
Iuture use, while its present working
properties will be sufficient for a vast
increase in the development of the coal
trade, not only in this country, but in
the South American countries and In
europe. The plans in view are said to
include a general distribution of the