The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1901-07-04
TRUST OF coAL*lNTEREsTs EAST
r. OF THE MISSISSIPPI
FORMING. Z
MORGAN TO Putt THROUGH
capitalization Will Be Second Only to
. That of the Big Steel Company.
Preliminary Work Has Been Going
on for Considerable Time-Coal
Docks and Other Properties Will
Also Be Taken In -.t- !,

o1Jo DOAOAC 0CpC. Oil VI Iu6 Ul3
companies producing bituminous coal
will have been gathered into one or
ganization, similar to the United
States Steel corporation. The cap
italization will be enoromus, 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
the same time the same interests
which ship coal from that. territory
down the river formed what has since
been known as the Monongahela Coal
company, each being combination
of smaller companies, making an Or
ganiZation of considerable Importance.
The desire to control other coal terri
tories in the same fashion that the
larger companies might be easier
handled by Mr.. Morgan has led to the
selection in certain sections of con-
fidential 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 it 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 cons
pleted in the next 10 days. The West
Virginia coal production is
Virtually Owned by One Company,
the Paramount Coal company, which
in turn is the property of the Balti-
more and Ohio railroad. The other
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,
now form practically one big railroad
organization, being owned by one
company. Now the Hin Coal CEN
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 the
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-
GUS coal companies which shall here
after make part of the big organiza-
tioH
The aim of all of this is to effect
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 Throne