The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1902-11-27
BIG DEAL
Syndicate Has Secured iOO.-
900 Acres Of kentucky Coal
Land and Have Optioned
400. 700 More.


The syndicate composed Of East.
crn. Chicago and Duluth capitalists.
that has been negotiating for a large
tract Of mineral and timber lands in
Eastern Kentucky. has closed the
deal for 100000 acers and has op-
tious on between 100000 and 400
600 acres more. Surveyors are now
laying of the additional lsnds 70 be
acquired, and the abstracts are being
examined by experts. but IL is esti-
mated that probably two years will
be required in which TO complete this
work.
The men backing this syndicate
have In contemplation. It is said. the
formation Of a gigantic operating
company that will develop the miner
al properties and cut the timber into
commercial productions. Included boz
the scheme for the development of
these properties is the extension of
three large railroad systems. either
by branch line. or friendly connec-
tions, into the Big Sandy region.
wherein lie the lands acquired ami 60
be- acquired by the syndicate. These
roads are the Cincinnati. Hamilton
and Dayton. the Chesapeake and the
Ohio and the Seahoari Air Line.
The Chesapeake aud Ohio has
1000 men 81 work ou the extension
OF its line now running from Ashland
into johnson County. Ky. aud IL is
stated expects TO be ready 60 handle
the busiuc,, ont of the Big sandy
district within d year The Sesboard
Air Line i- now building "a line from
Lincolntou. y. g.. Co thc Sandy
Breaks. and So hen that D.. completed
will extend IL on Go Ashland. where
connection will bc made with the
Ohio River and the a., NJ aud n.
aud the Detroit southern. These
systems will give direct trausporta-
tiou ior the product. oi the district 90
the North ami Northwest. aud pat
them on equal footing with the pro-
ducts of other districts in those mar
kets.
The syndicate has boon working
ou this deal ior year or moro. aud
its agents have quietly bought up
and secured long term option. ou the
richest mineral lands iu Eastern ken
lucky. ltls independent of che big
steel Ira,t. aui when its mines afe
opened ID will bee enabled Co supply
in great pant the demands oi the n-
dependent iron and steel companies
of Ohio. Pennsylvania. Indiana and
Illinois and other lake states. Tie
deposits oi coal and iron are said Co
be Of superior quality aud easily
miuei.
In connection with this deal ID is
stated ty reliable authority that the
C., H. aud ID. has about concluded
negotiations Tor the purchase of the
bridge acros, che Ohio River at Oak
land, aud that 10 is % De used Jointly
by the G.. n and d.. toe G.. and q.
and the Sesboarl Air Line. Ash
land. Ky, and lrontou, Ohio. being
the terminal and connecting points
on the Ohio for these roads. Thi,
bridge is a valuable property. and its
ownership was being sought by sew
eral roaas.
a number Of the men interested in
the syndicate aud the conformation
Of iis plans Tor acquiring and deyel-
oping the mineral aud timber lands
OF Eastern Kentucky were IA the city
Saturday and yesterday ana held a
conference at the Grand Hotel. Al
though the greatest secrecy was OBJ
served by those attending the con-
ference, u was subsequently learned
that the members OF the syndicate
aad representative Of the railroads
had perfect understanding whereby
al OF the plans outlined should be
carried 90 successful termination
Cincinnati Enquirer.