New-York tribune., 1901-07-02
FORMING A SOFT COAL TRUST.
JP MORGAN AND SENATOR HANNA
ARE SAID TO BE INTERESTED.

Cleveland. Ohio July Before September l, THE
Leader will say tomorrow, all the big companies
producing bituminous coal will have been gathered
into organization, similar TO the United States
Steel Corporation. The capitalization will be enor-
nous probably second only TO that of the big steel
trust.
AS an auxiliary 10 this movement being carried
by the promoters Of one of the constituent COM
panes of the greater organization, a complete pool
Of all the retail soft coal interests in Cleveland
will be effected within the ten days for which
preliminary steps have been taken. From what
be learned work on the big coal trust has been
under way for greater length of time than any
of the other industrial combinations.
J. p Morgan. the advocate of coalition, first
started in with his coal combination. three years
ago, making the first movements along the line
Of controlling the products Of the Ohio and West
Virginia fields. At that time he obtained complete
control of the mining property IN the Hooking and
Shawnee valleys. In order TO give outlet for
this coal he purchased certain railroad property,
and this started the combination mania along the
line of railroad ownership which mas gone to
extraordinary lengths
The proceedings in the present combination are
similar to those displayed in the formation of the
steel trust. One year ago all the coal properties
in the Pittsburg district which ship coal the
lakes were collected into one organization known
as the Pttsburg Coal Company About that time
the interests which ship coal from that terri
tory down the river formed what has since been
known the Monongahea Coal Company each
an organization of considerable importance
The desire to control other coal territory in the
same fashion. that the larger companies might be
easier handled by Mr.. Morgan has led to the selec-
ton in certain sections of confidential agents AS
an outgrowth of this policy organization was
completed in Chicago ten days ago, known s the
Illinois Coal Company. which two-thirds of
all of the coal land in Illinois Western Indiana
About the time 1t became generally known
that NJ. a. Hanna and others in this territory had
about completed the absorption most of the coal
properties in the Massillon district. This is ex-
pected TO be completed in the ten days. The
West Virginia coal production is virtually owned
by company, the Fairmount Coal Company,
which in Is the property Of the Baltimore and
Ohio Railroad The other interests in territory
all owned by the Norfolk and Western Rail
road the Chesapeake and Ohio Railroad or the
Pennsylvania Railroad, all of which. with the Balti-
more and Ohio form practically big rail
road organization being owned by one company.
Now the Illinois Coal Company, the Pittsburg Coal
Company, the Monongahela Coal Company the
Paramount Coal Company. the Hooking Coal Com
pany and the Massillon Coal Company are all TO
be collected into big organization, the name OF
which mas not been selected. All of these will be
operated from general office. with, however,
auxiliary offices in the immediate vicinity of the
property, and with general lake shipping Office
in Cleveland In this combination It is expected
that the Pittsburg Coal Company will be the CEN
tral figure around which the others are grouped.
Along with this organization will also 20 the
coal COCKS ana last ioading plants that are now
owned by the various coal companies which here
after are 10 make a part OF the big organization.
Lake Erie and also on the upper lake ports.
The aim Of all Of this is TO effect a complete
territory east of the Mississippi and north of the
Ohio and Potomac To the accomplishment of
tn enf r Morgan gan is & fad & 10 have given himself
he returns from Europe