The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-12-27
WORCESTER MEN IN
ALASKAN BUSINESS
Pacific Coal & Transportation
Company Invites Worcester
Capital For Investment in Min
ing Coal

Gen. Fred w. Wellington and Edwin
II. Brown of this city are interested
financially and in the board of direc-
tors of a big corporation whose securi-
ties are soon to be placed on the Wor-
cester market by ]. NJ. Spaulding of
Boston. The company is known as the
Pacific Coal G. Transportation Com
pany. and it is capitalized at $1.00O,O 900
for the purpose of working the coal
fields at Cape Lisburne, Alaska, and
transporting the product of the mines
to the gold fields and other likely mar
kets in the Alaskan country.
The new company is a consolidation
of the Corwin Coal Company and the
Pacific Transportation Company, the
union having been effected last June so
as to do away with any competition in
the transportation of coal which is
found to be of good quality and in al
most inexhaustible supply in the Cor
win company's fields. At the election
of officers of the new company, Gen.
Wellington was elected president, and
later Mr.. Brown was elected to the
board of directors. The other directors
are Hon. Frank A. Holden of Provi-
dence. r. l., William u Weber of
Henry T. Schaefer of Boston and Fred
erick W. Huestis of Boston. All are
practical coal men, and they look on
the new fields as great winners. The
trustee of the company is the American
Loan & Trust Company of Boston.
The men at the head of the new COM
pany are satisfied they have a good
thing, because careful investigation
shows a great supply of the fuel which
can be mined cheaply and transported
in the company's own vessels to a sec
ton of ten country where fuel is scarce
and where good fuel brings almost fab
ulous prices, coal selling from $36 to
$50 per ton.
Most of the steamers in that section
have been using wood for fuel. but this
is getting to be scarce and expensive,
and the quality of the CorWin Com
pany's coal is said to be such that it
makes admirable fuel because it is BIZ
luminous.
The prospectus of the company says
of the property
The two groups of mines are located
on tide-water at Cape Lisburne, Alas
ka, and are four miles apart.
The Corwin grOuo is on a bluff 227
feet high, with veins from four to 30
feet thick. dipping at an angle of 30 de-
grees from the top of the bluff and ex-
tending down into the ocean, the out
GROUPINGS extending one-half mile in
land This is a very superior grade Of
btuminous coal
In the 1hetis Mines we have a vein
of coal 40 feet thick, extending back
four miles from the coast The quality
of the coal will improve, as all coal
does. as depth is attained. These de-
posts of coal are practically inexhaust-
ible.
The coal is bright and clean to han
die. breaks in cubical fragments, and
resembles anthracite in appearance.
The hardness of the coal is a. special
feature that must commend it to all
consumers. while it is of vital impor-
lance in operating the mines in the
matter of screenings.
Based upon the above estimate of the
amount of coal contained in our coal
properties. namely 2S,661,O 900 long tons
of coal valued at only 10 cents per ton,
the usual royalty paid to the owners of
coal lands in the East. where business
is done on a very close margin, would
show a value of our property Of 1885,
100 To be conservative, we have set
valuation of less thsn two cents per
ton Considering the location and ac
feasibility of these cS1l properties To-
Gated at tide-water, so near the mar
ket together with the extraordinary
selling price of the COAL we do not hes
itate to say that these properties are
intrinsically worth more than the most
sanguine experts have valued them.
The markets for our coal being but
two to three hundred miles from our
mines. we should transport our c?al in
barges, thus saving the cost of trans
portaton by steamer. 1t is proposed to
purchase several of these barges of
large tonnage. thus obtaining a large
carrying capacity for a comparatively
small expenditure of money.
There is an abundance Of Asiatic la.
Dor on the Pacific coast already eXpe-
rienced in coal mining, which can be
employed by this company. This con-
stitutes the very best class of labor, as
strikes among them are unknown and
wages much less than that paid to
other miners. We should employ this
labor as well as native labor for our
mines. superintendent by intelligent
white labor. About 30 natives were en-
ploved last season at the Corwin mines
and gave perfect satisfaction. The
wages paid averaged about IL cents per
dav per man. including board.
The cost of mining the coal owned by
the Pacific Coal & Transportation
Company will be less than the average
cost of mining coal in Pennsylvania
and the west.