The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1906-03-28
Mr.. BAKER READ OUR
i.suPPLEMENT" AND
FOUND SOME FACTS.

CONTINUED From First pasel
e>r~7re-r-c'>r4',
will see that the Consolidated Coal
Company" by its report ending the
s1st Of December, 1905. reports net
earnings-that Is to say q net bal
ance after paying the immense salar
les to their officers tthe President re-
ceiyivng, as l am reliably infoned,
$4,000 Il year, the same as the Pres
ident Of the United tates gets), and
after paying all other expenses Of
working the mines, building houses,
oncning new mines. paying the salar-
les Of a retinue Of attorneys, Office
rents and any and all other expenses
and liabilities, there was q clean bal.
ance for the twelve months of 1886
s5S.
In addition to this the report shows
that there was also the total amount
TO the credit Of the Company of profits
and loss on Dec. 81, 1905, S2,7S3To0
and In addition toslhat. 1t purchased,
during the year, 100000 for cash coal
Of the Pittsburg vein containing 1850
acres, in West Virginia.
Not only that, but the Fairrnont Coal
Company, by its report, shows net
earrings or, clean balance for the
year Of $66a ,7os, and the amount to its
credit OF profit and loss in addition
to that, which they did not divide
among themselves during the year,
was the enormous sum Of. $297s,'
SsT.
Now, in addition to those enormous
sums and assets which the company
had on hand on the first day OF Janu,
ary Of this year, the records of the
County Clerks Office show that the
Fairmont Coal Company issued gold
bonds secured by a mortgage amount.
ing to $5.525,OOO, which bears interest
at S per cent. per annum, or total
amount of interest which 1t paid dur
ing the year on the bonds secured
by q mortgage was s966,25O.
THIS last sum Of money. Of over u
quarter Of a million, which 1t earned
during the year, was in addition to
the net amount which was divided
among stockholders at the end Of the
year Of s1,3SC,S5S, and in addition to
the above sum Of sS,OOO.0OO that It
had to the credit of profit and loss
on December, the Slst, last.
Doesn't it look to the average citl'
zen that the Fairmont Coal Company
is not a "coal mine" but gold mine
to its stockholders. when we remem.
her the fact that the farmer parted
with his coal, and made n New Years
gift to these great corporations at
anywhere from $40 10 $50 an acre,
for Tho greater part Of It? After OBJ.
tanning the $4,000 acres of coal, the
"Fairmont Coal Company" places a
mortgage upon It and sells the bonds,
amounting to $5,526,OOO; or tho bends
alone Of that company, secured by the
mortgage, represent oae.fonrth Of Tho
assessment Of Marion county, If round
numbers, is twenty.One million dollars.
and the Fairmont Coal Company, &c,
cording TO its mortgage, ought to pay
one.fourth Of the entire taxes on real
estate Of Marion county for state.
county, school and other purposes,
and yet that coal Is assessed IN Mar.
ion county at from SIS to $50 an acre
"a mere bagatelle.
When we look at the prosperous
and most active city In the State
Fairmont-and realize the great
wealth in real estate contained there
in, and It's splendid buildings towering
towards the Sky, and then, when We
turn towards Warrington, with a pop,
ulatlon Of from twenty-five hundred to
three thousand people, or possibly
more, with Its paved streets and
modern convenlences, and then look
over the splendid county Of Marion
and think that after all beneath the
earth, unseen tothe eye Of man. ex.
cept to the coal miner, Is a rich mine
owned By tho IaiEmuat Gal conS
pany;g which according 70 tts own
mortgage, isl worth ones oilrti ots alll
thas other Byast Tea l8sRtste IA lafioht
county lhciudlng "a Nv tie other soalS,
Veins as an asst q pittsbpf q consi
nellsYille vein not owned 81 Me-
'iaiFnont gu Company "a d len tes