The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1905-11-04
MORE ABOUT THE
BIG COAL DEAL
TWO MILLION FIVE HUN.
DRIED THOUSAND DOLLARS
CHANGES HANDS.


the immense coal deal recently made.
which includes lands in this coun.
~:
Wednesday concluded the consum.
nation of one of the biggest coal
sales that has yet been made by To-
ca. captains of the coal industry, or
in which local capital was interested.
BY this transaction or series of trans.
actions about $4,000 acres of choice
territory in Monongalia and Marion
counties, West yirginia-just across
the Greene county line-passes into
the hands of a strong syndicate of
capitalists who pay the former own
ers in the neighborhood of $500 900
for their holdings which cost them
approximately one-tenth of that
amount. Striking off the proceeds OF
some $500 acres all of the balance
comes TO Fayette county and the
great bulk of 1t to Uniontown. Who
the purchasers are will not be divulg-
ed by those who engineered the deal.
They do deny that 1t is the Fairmont
Coal company, as stated in the al
vance story published in the News
Standard Tuesday in which the sale
Of but portion of the field was ac-
counted for.
Contributing to the aggregate of
acreage mailing up this vast field of
natures stored fuel are sevenal
blocks or tracts which are owned and
held by individuals anGi groups or
companies on the community of in.
terest plan. First of all as sort of a
key to the situation was a block of
$500 acres owned by the Dunkard
Coal company of which Attorney r.
w. Dawson, Of Uniontown, was trus-
tee. Others in the company and own.
ing interests varying from seventh
down were R. W. Higinbotham, NJ. II.
Bowman, .. B. Howell. William AL.
lison, o. X. Frey, George r. Titlow.
P. A. Johns. c. H. Seaton and George
l.. Hibbs. It was taken up several
years ago and stood the owners an
average cost of about 1890 an acre.
They received 500. The largest in.
dividual interest will net the owner
over 100000. Several are better off
by $4,000 to $4,000 and the small.
est slice is an Independent fortune.
In addition to this Messrs. Higin.
botham and Dawson owned between
them 1900 in additional tracts which
they purchased later at higher figures
and held an option on another 1900
acres which they turned in at hand
some profit, thus making 1920 acres,
in round numbers. controlled the
above group whose holdings were the
first TO be accepted and on which the
other sales were made. There is
smaller one comprising some 700 acres
held largely by Fayette City capital
and controlled by T. S. Lackey, of
Uniontown. Another block of 5000
acres was in the hands of F. II. Ros-
boro and Minor Boughner. Still n
smaller one comprising some 700 acres
was held by John T. Robinson, C. ].
Mccormick. Chas. F. Kefover and
Clark Hagerty. Col. James NJ. Guffey
Of Pittsburg, turned in about 1000
acres and the Thomas block of some
500 acres rounds up the field.
These tracts are all contiguous and
cover the entire western end of Mon
ongalia county and part of Marion
county on the south and west. Its
Eastern boundary is Dunkard creek
which separates it from the 10000
acre field by the Cochran Coal com.
pany. On the south it borders on the
territory sold by Col. Guffey to the
Kanawha syndicate, and by them re-
Gently turned over to the Pittsburg
and Lake Erie, the Pennsylvania and
the B. and o. railroad interests. 1t lies
in what is known as the Battelle dis
trict. Reaching the eastern boundar.
les is branch railroad up Pawpaw
creek, which will doubtless be extend.
ed further into the field for the pur.
pose of developing 1t. The coal Is
one of the finest beds of the Pitts
burg seam known to exist and by ac-
tual tests will make the finest quality
of coke. It lies from 900 to 400 feet
under the surface, varying with the
topography Of the country, and shows
up from u to Ia feet of coal where
it was tapped. The purchasers pro.
pose to develop it on large scale.
Pending for a year and half. in
which time 1t has in several Instances
been on the verge of contamination
at lower figures than the prices real
lied and gone through the various