Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1909-09-17
INDUSTRIAL NEWS

INDUSTRIAL NEWS
Items That Will Interest Many Of
Our Readers.
Charleston, w. Va.-Announcemen
was made following conference last
week, attended by Judge Grosscup,
of Chicago, and other stockholders OF
the United States Natural Gas Com
pany, Of the transfer of the property
OF the company to the United Fuel
Gas Company. The property consists
of gas wells in the Roane county field,
pipe lines and distributing plants for
furnishing natural gas to Charleston
and Huntington, w. Va, and Ash
land, Ironton and Portsmouth, Ohio.
Reconsideration is between $4 900, 600
and $5,OOO.OOO.
Announcement is made from Char
lesion, w. Va, that deal has been
closed by which large Eastern railway
interests become the owners of from
5000 to 500, 900 acres of timber and
coal lands in Boone, Logan and Ra-
leigh counties for consideration OF
about $10,00O,000. The tracts include
all the coal lands on Big and Little
Coal rivers and part of Guyandotte
River. While it is said that Kuhn,
Loeb & Co. of New York, will finance
the deal, the identity of the railway
interested in securing control OF the
property is not disclosed. The lands
are in N. & W., Virginian, Kanawha
& Michigan, and G. & .. territory,
with the advantage in favor OF the
last named.
Grafton, w. Va.-Col. John T. Nc
Graw, the well known Democratic
leader in West Virginia, has had dia-
mond drill in operation for some time
at the Mount of Sand Lick, in Holly
district, Webster county, to ascertain
the mineral wealth there. The drill
went through rock formations to the
depth OF 800 feet, when it struck a red
colored rock, just below which the drill
went through thick formation, sam
pies of which brought to the surface
are declared to be rich in gold. Col.
McGraw is changing his Midland rail-
road in Webster county, from mar
row to standard gauge. He is also
extending the road 10 miles in length,
and this will open large lumber ter
ritory. Col. McGraw, who owns the
famous Webster Springs, is the pioneer
railroad builder in Webster county.
Rights OF way are being secured in
West Virginia and Ohio for the Hunt
ington and Northern Railway, back of
which, it is believed, are J. p. Morgan
and his associates. The road is to cross
the Ohio river by bridge at Symmes
creek, and it means an outlet through
the State to the lakes for an immense
coal tonnage from West Virginia.
Last week the following charters
were issued by the Secretary of State
of West Virginia The Virginia Coal
and Coke Co., Of Bluefeld, capital
stock 500, 900; The Hinton Automobile
and Supply Co., capital stock $4,000;
The Pennsylvania Oil and Gas Com
pany of Clarksblrg, capital stock
S25, 900.
Itlooks very much like Clifton Forge
is going to have another railroad, and
what is more, the indications point to
the early construction of this new road.
Within the past week or ten days the
gentlemen who are behind the move
ment to build railroad from Keyser,
w. Va, to Clifton Forge have been
looking over the proposed route for the
new road, and from what can be learn
ed they are well satisfied with the out
look. The object in building this rail-
road is to connect the c. & 0. and the
B. & 0. railways and develop section
of country rich in timber and minerals
All OF the plans have not matured, but
it is pretty well understood that this
road will have its terminals at Keysel
and. in this city. From a news clip
ping reproduced in The Review from
the Highland Recorder it would ap
pear that the promoters of this new
line of railway mean business. We ar
glad that this is so for it will not onl.
help this community and section, bu
will serve as great feeder to the G. q o
railway. Our advice Ito the people i
to encourage this enterprise.
A Hurry Up Call.
n,,;oIr NJ Drunuict-Oniolli- -