The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1901-07-05
ANOTHER Big COMBINE
TRUST OF COAL INTERESTS EAST
OF THE MISSISSIPPI
FORMING.
MORGAN TO PUTT THROUGH

That of the Big Steel Company.
Preliminary Work Has Been Going
on for Considerable Time-coaI
Docks and Other Properties Will
Also Be Taken In.
Cleveland, July 2.-The Leader
says: Before Sept. all of the big
companies producing bituminous coal
will have been gathered into one or
gsnization, similar to the United
States Steel corporation. The cap
italization will be enoromAs, probably
second only to that of the big steel
trust.
The proceedings in the present
combination are similar to those dis
played in the formation of the steel
trust. One year ago all of the coal
properties in the Pittsburg district
which ship coal to the lakes were col
lected into one organization known as
the Pittsburg Coal company. About
Tue 5dluS I1uS LnC ooA1S AhINA SoI@
which ship coal from that territory
down the river formed what has since
been known as the MonOngahela Coal
company, each being a combination
Of smaller companies, making an or
ganization of considerable Importance.
The desire to control other coal terri
tories tp tbs. same fashion that the
larger companies might be easier
handled by Mr.. Morgan has led to the
selection In certain sections of con-
hdential agents. AS an outgrowth Of
this policy an organization was COM
pleted in Chicago 10 days ago known
as the Illinois Coal company, which
owns two-thirds of all of the coal
lands in Illinois and Western Indiana.
About the same time 1t became gen.
orally known that M. A. Hanna and
others in this territory had about
completed the absorption of most Of
the coal properties in the Massillon
district. This is expected to be COM
pleted IN the next 10 days. The West
Virginia coal production Is
Virtually Owned by One Company,
the Fairmount Coal company, which
An turn is the property of the Balti-
more and Ohio rail1oa The othsr
interests in the territory are all owned
by the Norfolk and Western railroad,
the Chesapeake and Ohio railroad or
the Pennsylvania railroad, all of
which. with the Baltimore and Ohio,
form 11xy h
organization, being owned by one
company. Now the Illinois Coal COM
pany, the Pittsburg Coal company, the
Monongahela Coal company, the Fair
mount Coal company, the Hooking
Coal company and the Massillon Coal
company are all to be collected into
one big organization, the name of
which has not been selected. All of
these will be operated from one gen.
eral Office, with, however, auxiliary
Offices In the immediate vicinity of thu
property, and with one general lake
shipping office in Cleveland. In this
combination It is expected that the
Pittsburg Coal company shall be the
central figure around which the 9TH
ers are grouped.
Along with this organization will
go also the coal docks and fast load
Ing plants that are owned by the vari-
QUO coal companies which shall here
after make part of the big organiza.
ton.
The aim Of all Of this is to effect a
complete monopoly of all the btu
minous coal production in the terri
tory east Of the Mississippi and north
OF the Ohio and Potomac. To the ac-
complishment of this end Mr.. Morgan
is said to have given himself without
reserve and will take It up as soon as
he returns from Europe.