The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1906-05-01
ATSONS BUY O. in COAL FIELDS FOR S5O0000[

BALTIMORE, May 1.-The Bal
timpre q Ohio Railroad Company
no longer controls The Consolidation
Coal Company nor has any voice in
tlie management Of the big corpora
tion ! dealing having been perfect
ed III which syndicate acquires the
holdings of the railroad in the coal
company Announcement Of the
cons1mnation Of the deal, which is
one Of the most important in the soft
coal business in the history Of the
country. was made last night after
special meeting Of the directors OF
the Consolidation Coal Comapny.
Atthis meeting The formal resigna-
tons Of Messrs. o. G. Murray, Geo.
n Randolph and H. L. Bond, Jr.,
were offered and accepted. Mr..
Murray is president and Mr.. Ran
dolph first vice president and Mr..
Bond second vice president of the
B.& Q. In their places were elected
Mr. Van Lear Black Baltimore,
Walton Miller and s. L. Watson, of
Fairmont.
The explanation for these resigna-
ticns Is in statement made by G.
". Watson, president of the Con-,
solidation Coal Company, after this
special meeting Of the directors. Mr.
Watson stated that he had for him
self and associates purchased the en-
tire holdings Of the B. s o. Railroad
Company in the stock of the Con-
solidation Coal Company, and had
arranged to form a syndicate to be
called the Baltimore Syndicate. to
handle this purchase. The mem.
bers Of this syndicate are Messrs. J.
II Wheelwright, II. Crawford
Black and G. w. Watson, all of Bal
timore. Mr. Watson, when asked
who else were identified With the SYM
dicate, mentioned the following:
Van Lear Black, of Baltimore; ex-
Governor A. B. Fleming, Mr.. S. l..
Watson, Mr.. Walton Miller, Mr.. j..
E Watson and Mr.. l.. L. Malone,
all Of Fairmont. These gentlemen
already were large stockholders Of
the Consolidation Coal Company.
The agreement of purchase covers
53,532 shares of the stock Of the
Consolidation Coal Company, about
50 per cent, or a majority Of the
entire capital stock of $10,250,000.
The deal involves about $5,00O,000.
This arrangement was made on
April goth last and the stock wa,
being transferred to the purchasing
syndicate Yesterday. Control of the
Consolidation Coal Company carries
with it, either directly or Indirect
", the control of large mining cor
porations in the best known soft
coal regions in this country and in
addition extensive distributing COM
panies in the markets Of the East
and West. The magnitude OF the
properties controlled by the Con-
solidation Coal Company may he ap-
preciated when ii is stated that the
aggregate output of coal is 100000
600 tons per year and the coal lands
owned over 100000 acres. In ad-
dition to the coal mining and coal
distributing companies, the purchase
also carries with it the control of
The G. & P. Railroad Company, the
railroad which is the backbone of the
famous Georges Creek Of MARYLAND.
The other corporations embraced
in the control of the Consolidation
Coal Company are the Fairmont
Coal Company, which has been
recognized as the leading. factor in
the advancement of the coal develop
ment Of West Virginia; the Somer-
set Coal Company. which has been
doing like work in the rich coal bear
ing Somerset county of Pennsyl-
vania the Clarksburg Fuel Com
pany. Pittsburg & Fairmont Fuel
Company. and the Gouthern Coal &
Transportation Company, all We,:
Virginia corporations, operating ex-
tensive mining properties; Metro
politan Coal Company, Of Boston,
which is the leading distributing
corporation in New England the
Northwestern Fuel Company. Of St.
Paul. whose immense docks on the
Great Lakes are a gateway to the
coal markets of the Northwest. This
deal will naturally be received with
considerable significance in coal,
railroad and financial circles. 1t is
important to Baltimore because it
assures the continuance Of promin-
ence in this city of the development
and marketing Of coal in the States
of Pennsylvania. West Virginia, and
along the Georges Greek develop
ment.
This development, It will be re-