The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1901-09-11
GIGANTIC COMBINE OF
BITUMINOUS COAL MINES.
The Great Trust Has Been Form
ing for Some Time.

Pittsburg, Sept. 3.-The Post to-
morrow will say:
'sAll the bituminous coal mining
companies of Pennsylvania, Ohio, In
diana, 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 Pittbsuryg Coal
company, with its capital of s64, ,OO0,-
600, and the Monongahela River Con-
solidated Coal and Coke company,
with its capital of $50, 600, 600, are to
be included in the greater consolida-
tion brings the matter strongly before
Pittsburg coal operators. These two
corporations practically control all the
output in the Pittsburg district and
extend their operations well down to-
ward West Virginia in two directions.
Officers Of these companies are ex-
pected to attend 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 company
and number of smaller corporations
of this kind. Still other interests to
be represented will be from Ohio, In
diana, Illinois, Kentucky and West
Virginia where during the past few
| months, movements have been on foot
for the consolidation of the coal inter
est of those states into state corpora
tions for those particular fields. The
railroads are also taking keen inter
est in the project and owing to the
Morgan interests predominating in
that field, the consolidation is looked
upon as being unusually strong. The
Pennsylvania Railroad company, the
Baltimore and Ohio Railroad company
and western roads all under the Nor
gan influence are associated, it is said,
in the great movement which promises
to rival in its importance the recent
organization of the United States Steel
Corporation. The plans for the con-
solidation have been going on quietly
for some months. The plan of action
is said to have been to first get the
minor corporations of one state and
the individual operations into one
company basis. When this had been
accomplished the intention was to
group all the companies and control
them by parent corporation as a
stock owning company only.
"The combination of the Ohio fields
is said to be brought into fairly good
20 nd, sol
in Illinios are also in form to move as
the corporation plans there have
brought the individual companies to-
gether. The West Virginia fields are
perhaps the most difficult to handle
owing to their location and varied
ownerships. 1t is said that the pro-
moters have practically abandoned the
plan of including the Pocahontas field
in the general plan for the greater
trust. Mr.. Bacon, one of the active
partners of Mr.. Morgan, has been
spending several weeks in West Vir-
ginia during the past summer and
early last spring, getting options on
much local property and included in
this was much undeyeloped coal land
in that state. The total holdings in
that state are said to be very large
and aside from the Pocahntas fields
and that portion in the Flat Top re-
gion embrace about all available
lands and much that will be held in
reserve for years. The completion of
this great project will mean the consol-
idation of from $500, 600, COO to $780,
600, ,00o of invested capital This will
represent not only the undeveloped
properties in the six states, but also
the actual coal properties under deyel-
opment. There are millions of acres
of coal lands that the greater trust
will hold in reserve for future use
while its present working properties
will be sufficient fer vast increase in
the development of the coal trade not
only in this country, but in the South
American companies and in Europe.
The plans are said to include gene
raj distribution of the coal from the
best suited fields to the market nearest
them