The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1901-02-28
EXTENDING
ITS LEASES
LACKAwANNA IRON AND STEEL
co. AT LEBANON.

Believed to Have Secured n Long
Term Lease of the Bird Coleman
and North Cornwall Furnaces Of
Which the Company Obtained a
Five-Year Lease in 1S97--Part of
the Cornwall Road Is Being Double
Tracked--other Work That Is Be-
ing Done.
"Thc Lackawannh iron and steel
company, of Scranton, in 1S9, secured
"a flvc-yoar lease on the Bird Coleman
ana North Cornwall furnaces and has
since been operating them Jointly with
the ColcbrooS plant here" says u
Lebanon exchange. "rhis lease viii
have expired on December /. 1902. and
negotiations are now pending, if not
already completed, which Is probable,
for renewal of the lease for twenty
years ana the execution OF "a lease on
the Cornwall railroad FOR . like term.
"Sincc the Lackawanna company
acquired the ore. iron and railroad
holdings Of Robert ". Coleman, It has
4
and the requirement Of new industries
| hY lease, purchase and construction
has Of late been source of much
speculation iu local business circles.
! There has been u marked increase of
business in all these lines and as Il re-
| suit of the now investments II bright
and prosperous future is forcshadow-
I'd for Lebanon ana its vicinity.
| WANTED RENEWAL OF LEASE.
at is fact that the Lackawanna
| company very recently sought to ac-
| complish the negotiation of an agree
ment for renewal Of the furnace in
| tcrcst lease and also the railroad
lease. only official confirmation of the
| execution of the agreement Is lack
| ing, but in its absence recent ioc-
| currences point significantly to Il fa-
vorable completion of the negotiations.
! Notable instances are the dissolution
! of the Cornwall Iron company, limited,
! the beginning of work by the Corn
wall railroad company at Midway, in
| completing double track system. and
! the decision of the LaCkawanna COM
/ pany To build upwards of 500 coke
| ovens here.
THE Cornwall Iron company. limit
! ed, decided to dissolve and wind UP its
business on Jan. . last. II was a joint
! stock association, organized in 1856,
| with a twenty-year charter. Its capi-
| tai stock was $600,000 divided in 5000
shares at u par value Of 800 a share.
| The stock was owned by Edward G.
! Freeman, William G. Freeman, Isabel
| Freeman. Sarah G. Derby, Margaret
| C. Buckinrham r. Percy Alden and
I,.,,ia,,,tt, II ,,,,oi.i,,rha,,, ,rhi, onn,,
,,,,'., ,'i,,o, n,'' .,,,,,,os -, ttn rocL
n,,,n,,,, oo,,,ran,, Il, rso- and rou. bo IS
,is,,,,,.oa nitl,n,,o.t, ,rdor Ire charter
! :, l,,,,I1 rn,.,, ,,7,tir,,od hnsiroso for
civ n,oro ,,nn,.s ,rhis fact alone strong.
IL, nnir,s to tb,, oxacutiop of the agree
mont fo,. renewal of tho lease.
..rb. cornwall Roilroad company has
I , c,nital etocIy nr siO0 0oo divided into
, , ono shares at - mar value of 800
rho shareholders. with n few others
, are the Same as those i'm the Cornwall
/ Iron company, limited, now dissolved
I The railroad company's present oli-
GERS are. President. Captain y. H.
/ Bucliincham; directors, Il. Percy Al.
/ dem r.. &. Freeman. W, G. Freeman
, and \. NJ. Patch. Th, latter is tho
! supcrintcndcnt. Its line runs from
| Lebanon to Mt. Hope in Lancaster
| county, where it joins the Reading ant
| Columbia railroad. The railroad has
| been seIf-suStaining and for much o
it's length. fourteen miles, it is II singi,
track. particularly from Miners VII
lagr to Mt. Hope.
DOI'HLE TRACK SYSTEM
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~, ms. NJ yyato,. IImostnnr and earn