Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1901-07-14
A CLEVELAND PIPE DREAM
Of ANOTHER COAL COMBINE.
GATHERING GENERALITIEs DEFr-
LIZ WOVEN INTO A WONDER
OTIS FABRIC.
CLAIRvoYANT CONSULTED.
so DOUBT, TO DISCOVER WHAT J.
Il. MORGAN AND OTHERS ARE
THINKING ABOUT.

CLEVELAND. Chio, July 13.-The Lead
CT tomorrow win say:
Owing to certain expansions Of the orig
| inal plan having been agreed upon, the
formation Of the soft coal trust may be
delayed to give time for the working out
of larger plans.
The plan as now outlined by those who
are on the inside provides Il close har-
mony between the producing and trans
portation companies. In the latter are to
be included lake, rain ard ocean facilities
Of the largest proportions.
II now comes ont that the purchase OF
the Ohio River Railroad by the Baltimore
q ONO WAS part u this big scheme and
perfected a wly to control the soft coal
carrying facilities for certain parts o.
Ohio. West Virginia and the PitusburB
district. The same interests now con-
troll with the assistance Of the Morgan
holdings, all of the coal carrying proper
ties in th.s territory that snip coal to the
lakes or to the east and the Wheling &
Lake Erie A fleet OF ocean-gung and
lake travcrsing vessels IS to be collected
under the guidance of the big combination
that will be distnctively trust boats.
In this connection tt might be said that
more of an endeavor is to be made to sell
the Pittsburg and West Virfini1 steam
Goals abroad than to put them into com
petition in the northwest with the Goals Of
the sumo company, which are mined in the
Illinois and Western Indiana fields. 1he
west being compelled largely to provide
for itself in the way of coal production
the fields OF Indiana and Illinois viii be
developed and the mines recently discov
cred in the Indian Territory and that vi
entity Will be opened to afford material
for the western part of this country.
The Main Hindrance
to the expectation of bituminous coal has
been the lack Of dock facilities for hand
ling the big boats which heretofore have
engaged in the coaHng trade. 1t is the an
nouneed intention of the promoters of the
soft coal trust to build a specific class of
ocean-going tonnage which be handled
IN the harbor at Marseilles and at other
southern European coal receiving ports
without the intervention of a lighter.
Associated directly with this scheme is
the purchase of the Pennsylvania Steel
Company by the Pennsylvania financial
interests, which seem 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
that one of the plants of the Pennsylvania
Steel Company is to be turned into ship
yard for the production OF ships of spe-
cidc size that Will be able to navigate the
harbors of Southern Europe and still car
~ enough coal to make them pay.
Some have loked upon the Leyland pur-
chase as the establishment of a nucleus
of this fleet, but it is believed that these
boats have most to do with the eXpcrta-
tion of the United States steel Corpora
ton products.
1t Is SAID that the financial interests
which are behind the United States Steel
Corporation are forming
An Underwriting Syndicate
to take charge OF the securities of the big
combination. and that this organization
will arrange at once for the issue of 500,
900 900 trust securities. These will be ex-
changed for the stocks of the six coal
companies in the west which are TO be
included in tho trust. and with them will
be some eastern coal interests as well
The western companies which are to be
purchased are the Illinois Coal Company,
the Hooking Coal Company, the Mononga-
hela Coal Company, the PittsbUrg Coal
Company and the Fairmont Coal Com
pany. and the Massinon Mining Company
There are rumors abroad that the Flat
Top Coal Company is to be made part of
the large organization.