Marietta daily leader. (Marietta, Ohio) 1895-1906, 1901-05-04
MORGAN SYNDICATE
After Coal Lands In Hooking and Sunday
Greek Valleys

OptCidl w LNUuCl'
Athens, O., May 3.-The Messenger
prints the following:
The great Morgan syndicate is lay
ing it's plans to get control of all the
mines in the Hooking and Sunday
Creek Valleys.
From an authority which seems in
disputable there comes the informa-
tion that almost the entire coal indus
try cf the two valleys will come under
the management of the gigantic COM
bination of capital of which j. P.
Morgan is the head.
For some time. it is said. the agents
of Morgan have been quietly negotiat-
ing with the owners of the many mines
with the view of securing them for the
Morgan syndicate. The conferences
leading to the successful negotiation
for the bituminous product of the two
valleys has been conducted with such
secret diplomacy that scarcely score
of men are aware that any such steps
have been taken. According to the in
formation it is the intention of the
syndicate to get control of all the
| mines now in operation and to secure
as many acres as possible of undevel-
oped coal lands. This deal will prac-
ticaily include all the coal lands and
mines in the three counties of Athens,
Perry and Hooking.
This gigantic deal involves several
millions OF capital. The exact amount
cannot be determined. nor have any Of
the agents of the syndicate divulged
the slightest hint as to the sum in
volved. Comparatively estimating the
amount of the deal it can be approXi-
mately placed at from seven to ten
millions of dollars. The most extern
sive coal operators in the three coun-
ties are conversant with the deal and
from reliable sources it is learned that
( the negotiations are being pushed to
completion as rapidly as possible.
! Ihe extent of the deal is rather
| startling in it's figures, and is of such a
nature that only Morgan syndicate
| could manage with ease. 1t is believed
! that with the coal mines of the three
counties in control of the syndicate the
coal industry will be given notice
able impetus, inasmuch as with his
stupendous system of railroads, his
! steamship lines and his numerous fac
/ tories. he would be able to utilize even
/ a greater amount of coal than could
! possibly be produced. The utilization
oI all the bituminous product in the
three counties is, in itself. gigantic
undertaking, and in the course OF a
year means an amount that can hardly
be comprehended by the ordinary
mind. The total daily output of all
/ the mines in the three counties when
! they are operated at their full capacity
is conservatively estimated at thirty
thousand tons. 1t may be considerably
more, and it is certain that the output
is not less. Thirty thousand tons
would require one thousand cars OF
thirty tons each to hold that amount
! This number of cars when coupled to-
gether would make a train of over SIX
and half miles in length. When cut
up into trains fully thirty engines
would be required to haul it to the
markets.
BY merging all the coal interests
into the control of one gigantic con-
cern, means indeed an epoch in the
coal industry of this part of the state
What it will result in. no one with the
greatest commercial and industrial in
sight can determine. 1t may mean a
crisis, or it may mean the greatest in
dustrial awakening that Athens, Hook
ing and Perry counties have ever eX-
perienced.
Appeals to the rason of thinking Peo-
pie. The world is weary of substitu'
/ tiCn. therefore see that you get ROCKY