The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1903-12-30
Sells His Tenmile CoaI& Coke Company Property TO
DoIa Coal & Coke Company. Composed Of Promi-
nent Pennsylvania Mine Operators, for Over
$500 an Acre---Field Contains Over 1000
Acres and Aggregate Price is More
Than S1,25O,OOO.
Profit Made by
Col. Jackson Said to
be More Than One
Million Dollars.

The largest coal deal in this section OF
the state, and in the state, for tllat mat
ter, within The past several months has
Just been colisum7natcd and The deeds
are now being prepared for recordotion
and win be admitted within a few days,
The deal represents an investment Of
more than one million and quarter
dollars, s6npendop sum to pass in a
single transaction,
The property Of the Tennile Coal &
Coke company, formerly owned by Col.
I. Moore Jackson, Jaanes +, Allen, Il,
Il, Davis and j. Hornort Davis and jas
per Kyle, but more recently by Col.
Jackson alone has been sold by him to
the Dola Coal & Coke company, which
was recently chartered in this state at
a capitalization OF over one million dol
lars. The transaction was made several
days ago, but the matter has been kept
practically a profound secret until the
past evening, when it leaked out. Since
the deal was closed, the parties to it
have been busy with papers and deeds
so as to have them recorded at the ear
licst opportunity, and THAT accounts for
keeping the matter quiet.
Ool jackson sold the property for
something like $500 an acre. The exact
figures are not definitely known, but ii
can be safely stated that ,the price re.
ccived by him was mot less than that.
The statement is made THAT it was in
that ncighborhood. There are over 4,0OO
acres in the field and, therefore, a safe
estimate OF the amount renlzed by the
sale is over Sl,25O,OOO. The terms OF
the sale will likely not be divulged unit
the deeds are filed for recording.
This property lies on Tenmile ueek in
Sarrdis and Eagle districts, ard plong on
both sides of the West Virginia Short
Line division OF the Baltimore 4 Ohio
railroad II is drift coal and the Pitts.
burg bituminous vein OF splendid thick.
ness. 1t is accessible from the Short
Line at Dola, this county, and otlrg
points.
The Dola Coal and Coke company is
composed OF u number of Pennsylvania
most prominent operators men Of
wealth aud enterprise, thoroughly ia
miliar with the mining business. Among
them are j. +, Hosaci, president OF the
company, and w. S. IIftchman. They
did not make the purchase for speeula.
tive or investment purposes, but to de
yclop the field 1t is the intention to
install modern mining plants OF gigantic
proportions and enter into active deyel,
opmcnt OF the field. The next year will
mark the beginning Of the development
and it is stated that il win be one Of
the largest and best developments IN
West Virginia.
The field was taken up by the Ten.
mile Coal 4 Coke company, composed Of
the gentlemen mentioned above, sevea1
| years ago, but two years ago Col. Jack.
son purchased the interests OF the Other
members Of tine company, which were
Itg,raa .fn,rths of the fold aud olJ,pn Ia
owning one-fourth, he became sole own
er at a total cost of S25O,OOo. Thi.
amount, compared with the selling price
by him shows that he cleared ait least
Sl,Odo.0co on the property, a wonderfully
large profit for the short space OF tw,
years, and one seldom clironicled in com
mercial circles.