The Billings gazette. [volume] (Billings, Mont.) 1896-1919, 1901-07-16
EXTEND ITS SCOPE
Soft Coal Trust Delayed to Permit
Expansion Of Original
Plans.

Cleveland, July 13-The Leader to-
morrow will say: Owing to certain
expansions Of the original plan
agreed upon 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 close har-
mony between the producing and
transportation companies. In the
latter are to be included the lake,
rail and ocean facilities of largest pro-
portions.
1t is now disclosed that the pur-
chase of the Ohio River railroad by
the Baltimore & Ohio was part of
this big scheme and perfected in a
way control of the soft coal carrying
facilities for certain parts of Ohio,
West Virginia and the Pittsburg dis
trict. The anne interests now con-
troll, with the assistance of the Nor
gan holdings, all of the coal carrying
properties in this territory that ship,
coal to the lakes or to the eastern
seaboard.
A fleet of ocean going and lake
traversing vessels is to be collected
under the guidance Of a big combi-
nation that will be distinctly trust
boats. In this connection it might be
said that more of an endeavor is to be
made to sell Pittsburg and West
Virginia steam Goals abroad than to
put them into competition in the
northwest with Goals of the same
and western Indiana fields. The west
being compelled to provide largely
for itself in the way of coal produc-
ton, the fields of Indiana and Illinois
will be developed and mines recently
discovered in Indian territory and
that vicinity will be opened to afford
material for the western part of this
country.
The main hindrance to the expor-
tation of bituminous coal has been a
lack of dock facilities for handling
the big boats which heretofore have
engaged in the coaling trade. 1t is
the announced intention of the pro-
moters of the soft coal trust to build
a specific class of ocean going ton
mage which can be handled in the
harbors at Marsellies and other
southern European coal receiving
ports without the intervention Of
lighters. Associated directly with this
scheme is the purchase of the Penn
sylvania Steele company by Pennsyl-
vania 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 absorption of produc-
ing properties. 1t is said that n of
the plants of the Pennsylvania Steel
yard for the production of ships of
specific size that will be able to nav
igate harbors of southern Europe and
still carry enough coal to make them
pay
Some have looked upon the Ley
land purchase as the establishment
of a nucleus of this feet but it is be-
lieved that these boats have more to
do with expectations of United States
Steel corporation products. 1t is said
that financial interests which are be-
hind the United States Steel corpora
ton are forming an underwriting syn
dictate to take are of securities of
the big combination and that this or
ganization will arrange for the issue
of $50, 900, 900 of trust securities.
These will be exchanged for stocks
of six coal companies in the west
which are to be included in the 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, Hook.
ing Valley Coal company, Monogahela
Coal company, Pittsburg Coal com.
pany, Fairmont Coal company, and
Massillion Coal Mining company
There are rumors that Flat Top Coal
company is to be made part Of the
organization.