The Paducah evening sun., 1910-01-20
MEMPHIS MONEY
In MINE MERGER
81, 500, 900 OF KENTUCKY COAL
PROPERTIES CONCERN.
Have 13,5OO Acres Land-Eik Valley
DrakcsbOro and Louisville ana
Atlantic Companies In Deal.
$500 TONS Is DAILY OUTPUT

Memphis. Tenn, Jan. 20.-Four
great coal mine properties OF Mullen
berg county. kentucky, have just
passed into the hands OF a syndicate
OF six prominent and wealthy men,
who have merged their new holdings
into a colossal corporation. entitled
The Err Valley Consolidated Coal
Company" with si,500.0O0 capital,
which becomes the second largest
coal company in western Kentucky.
Five hundred thousand dollars cash,
il is stated. was used to swing the
deal. The syndicate IL composed of
three Memphis capitalists, c. D. NJ.
Greer. Thomas b. Caldwell and Ed
ward Manigan: ex-Gov. Benton Nc
Millln. OF Nashville; Andrew HOgg.
coal operator cf Muhlenberg county.
and Carroll Curry, president of the
First National bank, OF Mononglfa,
W. Va.
The six gentlemen named are rich
men, and ex-Gov Benton McMlllln.
who is also state agent for Tennessee
OF the Carnegie Trust company. OF
New York. had no trouble in secur-
ing that institution to partially
finance Il.
The properties purchased and
merged are: The wicklife mine. at
Browder, from the Wiokllfe Coal
company: the Elk Valley and Dla-
mond mines. at Elk Valley. from the
Elk Valley Coal company. and the
Louisville aud Atlantic mine. at
Drakesboro, from the Drakesboro
Coal and Coke company.
The price paid for the properties Is
not stated. These properties com
bined constitute 10. 500 acres OF valu.
able coal and timber lands. extending
from the Louisville & Nashville rail-
road TO Green river and about two
miles OF II front on that navigabls
stream.
The output now Is about 2.50C
tons OF coal daily. which will b,
doubled just as soon as some severa
hundreds OF thousands OF dollars n
improvements can be made. Amonl
the Improvements contemplated ar,
barge line on Green river to NOV,
coal into the Ohio river and distrlbut,
II TO such markets as Louisville. EV
ansyilie and Memphis. As all thes.
mines are within three miles OF eaci
other. an electric car line IL beinf
planned, which later Is expected e
become part of an interurban system
Immediate improvements 10 b.
made are the erection OF a centra
power house at Drakesboro. a tele
phone system, and about so new
mine houses. The mines are airead,
electrically equipped with all modern
improvements and four compan,
stores are in operation at brakes
boro. Elk Valley and Browder.
The company Is working zoo mel
In the four mines. The coal ~ mex
haustible, there being eleven work
able seams averaging six feet through
in mrohantable coal. The averag,
for each three feet in thickness o.
this coal Is about 1000 tons 90 IN.
acre, according to the report OF ths
expert who was employed to investi
gate. At present the output is largel,
shipped over the Louisville & Nash
Vile to Louisville. Nashville ans
Memphis. but with the establishment
Of a barge line other markets will b,
reached.
c. ID. NJ. Greer. OF Memphis, who
with Ex-Governor McMillin. engi
neered the merger, will be president
Of the new corporation when forma
organization OF the company Is com.
pleted next week. He Is president
Of the Greer Coal and Mining com.