Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-10-19
| THE COAL COMBINE
IN WEST VIRGINIA FIELD.
Is SET FOR FORMATION on THE
Sd OF DECEMBER, ACCORD
ING To REPORTS.
OF IMPORTANCE
WILL BE BROUGHT UNDER THE ONE
MANAGEMENT.
The Combination will Have Capi-
tai OF Not Less Than One Hundred
Million Doiiars-A sketch of One
of the Big Business Cancellations
of the Country-Bundrcds of
Thousands of Acres Involved.


PARKERSBURG. W. Va. October IS.
The third OF December is the date
which il is understood has been set for
the formation OF the great coal trust
which is to comprise every eoal field OF
consequence in West Virginia Events
leading up TO the formation of this great
combine, whose capital stock will not
be less than hundred million dollars,
are fast taking shape, and there is llttle
doubt that the consolidation of all the
mining interests in the State will be
accomplished
The principal coal fields of West Vir-
ginia are those about Fairmont. at
Clarksburg. in the Kanawha valley, in
the new river valley. the Flat Top fields
along the Norfolk & Western railroad,
and the West Virginia central fed.
Coal is found in every county in the
State except two or three. but the fields
named are the principal centers of coal
production.
OF these fields the Fairmont mines
were recently consolidated under the
name of the Fairmont Coal Company
with twelve million dollars capital. The
Clarksburg mines have similarly organ
lied as the Clarksburg Coal Company
with six millions capital Several
months ago the Kanawha river mines
were bought up and consolidated under
one management. and within ten days
the options on the New river mimi
properties have been extended 70 the
first of December. the statement being
made by those taking the options that
they were for the Pennsylvania Railroad
Company. Now comes the announce
ment that the options on the Flat fop
coal field have been taken up by the
Pocahontas Coal and Coke Company
and that the cash payment Of ten mil
| lion dollars will be paid within a week
| or as soon as the deeds can be pre-
| pared. With the taking up of the OPP
lions on the New river and Flat Tor
| fields every coal field of prominence IN
the State except the West Virginia cen
tral field will be In the hands of a cor
poration with large capital and closely
allied to the Pennsylvania railroad sys-
tenn and the steel trust. The president
Of the Pocahontas Coal Company is
Judge E. II. Geary, director of the
steel trust. Negotiations are said to be
pending for the purchase of the West
Virginia central coal fields.
That these several corporations. con-
trolling the coal output of the State,
are to be consolidated Is believed to be
fact, and as stated above, the date
fixed for the consolidation is said to be
the third of December. The Flat Top
field alone. which has just been sold,
consists of 23S.6S4 acres. She new COM
pany which secures 1t will have a cap
ttal OF forty million dollars, and 1t Is
believed that the capital OF the company
which will comprise all these concerns
will not be be less than a hundred mil
lion dollars.
For several days there have been ru-
mors of reported sale OF the holdings
OF the Braxton Coal Company. which
owns some 10000 acres in Gilmer Lew
Is and Braxton counties, to Senator
Elkins and associates. Persons con-
nected with the Little Kanawha railroad
and the Braxton Coal Company profess
to know nothing of the deal. but re-
cent conference between Gov. White,
who is closely associated with the coal
and railroad companies, and Senator
Elkins, at Washington and his confer
ence with Senator E.kins at Clarksburg
to-day, lend color to the report that a
sale is being negotiated. II the coal
property is sold the railroad would
probably be sold with It, and the report
that the Davis lkins road Is seeking
a western outlet to the Ohio gives color
to the stories that Elkins is after the
Braxton Coal Com7any's property.