The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1905-09-22
IMMENSE
Holdings 10 the Eastern Kentucky
Coal Fields.
SIX sYNDIcATEs IN THE FIELD.

Paintsyille. NY. Sept. 1i-Slx syn
dicates own a million acres of the
bigg st and best Kentucky coal
Each Of the syndicates is composed
Of from three to five men. ShD.t every
man Of them ls millionaire. Some
Of them have become so by virtue OF
their interests in these untouched
coal beds. Small slices Of what they
held we're easily transferred to sumo
one smart enough to get on the
ground floor.
What these six syndieates hold Is
valued by themselves at $3.50. 900.
1t would take that rate to gat any
cDnsid rable quantity Of their lands
away from them. The offer vas
refused Railroads have come since
and all coal property is much more
valuable now.
With these conditions in mind. II is
staggering 10 look backward in this
country five years. Going back anoth
er five years and still another five.
1t is impossible to figure on lost op-
p1rtunities. Five years ago the
lands that may now be worth slO0,
O0OcO0 could have been taken in a
walk for slO.00O,OO0. Half OF them
could have been picked up Spr less
than s. an acre, or s2,500.O00 for a
half million acres. Five years ago
before that, or still little earli-
er. in the panic Of 1898, the major
ity Of it could have been. taken for
some paltry thousands OF cash and
promises to pay. Those promises
would have carried into the time
when many men we're willing to pay
more and yet feel that they were
getting bargain prices
The six syndicates are not sec
ret organization. One of them may
not know cf the others existence.
They have been picked at random
from among the biggest interests
in the fields to make graphic ihl.
preseniment Of new wealth in the
mountains. First Of the syndicates
IS Senator John c. Camden. John c.
C. Mayo and Eugene Zimmerman in
n Northern Coal and Coke Company
All the syndicates are in a tight
company Next is the Mayo indie
psnds partnerships Then r. II
Bruas and John c. C. Mayo. together.
Kounz Bros, of New York. named
fourth. but not fourth in wealth in
Kentucky possessions The Simkins
nsirs. Of Washington. and the BOs-
ton Syndicate. fifth and sixth, but al
so among the first in the value OF
investment. All these investors are
in a rather compact territory in Mar
Tin ard Pike and Floyd and the edge
II Johnson. and east of Knott coun-
lty. On the south. in Pike. Kentucky
stops with its half Of Pine noun
tain The other half looks down OF
Dickenson county. Va. Al the cres
the six syndicates can shake hand
with Thomas F. Ryan and Marshal
Field and George L. Carter and as
sociates Of a syndicate that control
about all the coal lands of Dieken
son. county Va While eNehangini
congratulations the respective Ken
lucky and Virginia syndicates ca
look down upon their own lands. a
Diekenson county. Va, lies on on
side Of the mountain, and Pike count
KY. on the other.
It may be interesting If not 7,
treshing to look backward son
more. When the original simkir
.ame into Kentucky he knew csom
T hing coal in West Virginia. That "
four times five years ag,. mayl
longer. The land OF Martin eOu
i Y. with its six-foot seams Of COZ
d had an exchange value at that tir
Q Il just about exactly nothing.
K looked good To this New York cal
a ialisi at even better than these tern
1 even if it was in lost mounts
ountry where there were ho IA
roads and where in the opinion
stray farmers and short-sightel
testment world, there never wo0
be be railroads. Mr.. Simkins. or
Isl connections, started buying at Fl
as cents an acre and for some ye
e. sept slowly at that. and up TO {
IN dollar and half an acre, The s.
Nh kins property now is very pr
IN " block Of country. covering ~,
e i'd acres Of fine timber and 9
" md first-elass agriculture Ian
CT The elearings 1hat have been m;
lo for farms in this trae, are ale
os North an the monsy that was p
ne for the property. Considerable nj
NJ y has been spent. Of course.
u these twenty years in improvemel
ns and in developing the land viii
SO has been employed all this time
iS tbs benefit Of the owners.
n When John c. c. Mayo. a matt
H. Of the hills Of johnson county. beg
taking options on land he got thi
~ as fast as he cared TO take th'
At 81 and sl.50 an acre. Even )
hat figure he found the obligati
. Il redemption weighiy for ma
years There We're SO few peol
anywhere that could SEE value in al
thing that was heyond tn limits
growing city or populated cou
Ay. That was the farmers view
ic il. and hence he was ghad to {
Il rid OF hand that WAS mighty Il
n, scratching for food Cual had alws
el been there without any means OF =
4 ting L out. aud what were the sig
or that things would never be diff
rs rnt,
e Il Il not the mountain man to 81
for nom win rcgrcls of the 10
n past. M has his homestead q