The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-07-14
TRUST IN SOFT COAL
WILL INCLUDE NOT ONLY MINING
PROPERTIES, BUT TRANsPOR-
TATION LINES
ON LAKE, RAIL AND OCEAN
Combination Will own Its own
Steamships to Haul the Out
put of Its Mines TO
European Ports.

CLEVELAND, Ohio, July lS.-The
Leader tomorrow will gay:
Owing to certain expansions of the
original plan having besa agreed upon
the formation of the sort 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 harmony between the
producing and the transportation COM
panies In the latter are TO be in
cluded both lake, rail and ocean facili-
ties of the largest proportions.
1t is now disclosed that the purchase
Of the Ohio River railroad by the Balti-
more & Ohio was a part of this big
scheme and perfected, in a way, the con-
troll of the soft coal carrying facilities
for certain parts of Ohio, West Virginia
and the Pittsburg district. The same
interests now control, with the ass stance
of the Morgan holdings, all of the coal
carrying properties in this territory that
ship coal to the lakes or to the East the
Wheeling & Lake Erie. A fleet of ocean
going and lake-traversing vessels is to
be collected under the guidance OF the
big combination that will be distinctly.
trust boats. In this connection it might
be said that more of an endeavor is to be
made to sell the Pittsburg and West Vir-
ginia steam Goals abroad than to put
them into competition in the Northwest
with the Goals of the same company,
which are mined in the Illinois and West
ern Indiana fields. The West being COM
PEELED to provide largely for itself in the
way of coal production, the fields of In
diana and Illinois viii be developed and
the m.nes recently discovered in the In
dian Territory and that vicinity, will be
opened to afford material for the west
ern part of this country.
The main hinderance to the expectation
of bituminous coal has been the lack of
dock facilities for handling the big boats
which heretofore have engaged in the
coaling trade. 1t is the announced in
tention of the promoters of the soft coal
trust to build a specific class of ocean
going tonnage which can be hauled in
the harbor at Marseilles and other South
ern European coal-receiv ng ports with
out the intervention OF a lighter.
Associated directly with this scheme is
the purchase of the Pennsylvania Steel
company by the Pennsylvania financial
interests which seem to be handling the
transportation, and of the big soft coal
deal, while the Morgan interests take
charge of the financing of the absorption
Of the producing properties, 1t is said
that one of the plants of the Pennsyl-
vania Steel company is to be turned into
a shipyard for the protection of ships of
specific SIZE that will be able to navi-
gate the harborS of Southern Europe ana
still carry enough coal to make them
pay.
Some have looked upon the Leyland
purchase as the estatl SHINE mt of a neu-
cleus of this fleet. but it is believed that
these boats have more TO do with the ex
portations Of the United States steel cor
poration products 1t is said that the
financial interests which are behind the
United States steel corporation are form
ing an underwriting syndicate to take
care of the securities of the big comb ma
ton and that this organization will ar
range for an issue Of $50 100000 of trust
securities. These will be changed for the
stocks of the six coal companies in the
West, which are to be Included in the
trust, and with them vii! be some East
ern coal interests as well. The West
ern companies which are to be purchased
are the Illinois Coal company, the Hook
ing Coal company, the Monongahela Coal
company, the Pittsburg Coal company,
the Fairmount Coal company and The
Massillon Coal Mining com sany. There
are rumors that the FL. Top Coal COM
pany is to be made part OF the organiza-
ton