The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-14


! he had estimated their value at half
cent a ton in the ground This seems
| ridiculously low. but even at this rate.
! lie says, the lands near the Pacific
! coast would be worth from $40 10 $500
| per acre.
| here ventured suggestion that II
! PierPont Morgan or one Of the CugScn.
! helms wished to pcrpetua tc his wealth
| he might invest 100000 In such lands
| with the understanding thalthey were
/ to be mined only by his great great
grandchildren one hundred years from
now. T
| 1t would seem So" replied DR..
| Brooks, but we have had a discussi on
concerning, prospective values that
makes that matter very qucstiona bl q
one Even If the lands could be bough,
at $40 an acre. which has been the law
as TO the public coal lands Of Alaska
and should be kept 100 years they
| would have to yield big amount OF
coal TO pay the interest charges. have
mad one OF the fnanciers figuring upon
the possibilities. @
He says that at $40 an acre the in
| vestment in 100 years by annually com
| pounding the interest at 8 per cent
| would make every acre there cost
| s2,63i. not counting the taxes Now, IL
| the investment were 100000 instead
! OF $40 the interest charges and prin-
(, cipal in 100 years would amount TO
the enormous sum of s26,3io. coo. or if
1t were million dollars the total cost
| Of the land would then be s2G3.i0o, o0o
/ You must also remember that the coal
has to be still gotten out of the Garth
and that you cannot be absolutely sure
as TO just what is under the ground. In
all this we have left out the question
OIL taxes. which would go up as the
other coal mines nearby were de-
| veloped. so that there is grca doubt to
the advisabllity Of a century holding
of Alaska coal
M The Market for Coal .f
l went with DIR. Brooks over the
| maps of his recent explorations and
took a look at the Bering River and
Matanuska coal fields. which are now
being discussed Neither Is far from
the sea. and the Guggenheims have
already built railroad which is not
more than twenty-five miles or so
from the Boring River beds The coal
of this region is excellent. varying
: from anthracite to valuable semi
biturninous. The beds cover something
| like forty square miles, and they will
| yield from 10000 to 100000 tons to
the acre. The Matanuska field is not
much farther away. and II is probable
\ that there arc other fields in the i'm.
mediate vicinity This coal could be
| made quickly available and It would
command q good price In the ma rk ct
! In talking with DR.. Brooks l was
told that the coal trade Of the Pacific
/ Is now largely monopoIzed by the
| British, who are working vaiua BILE
mines on Vancouver Island from
which they supply Puget Sound, San
! Francisco and other places. The Van
| couvcr coal delivered at tidewatcr
sells for as high as $3.50 4 ton and Is
| sold at wholesale in Seattle at SIS. in
California coal Is now bringing from
| SIS TO $ls a ton, and on the Pacific
seaboard of Alaska the retail prices
| run from SIS to Sl5 per ton. at Nome
coal Is selling for from SIS to $685. and
these prices will probably continue
until the Alaskan coal fields are
opened. Just at present there are
some Ignite fields being worked on the
| Seward Peninsula. This Is contrary to
law, and the miners have been warned
10 desist. They are far off In tho
| wilderness. however, and the warnings
| are not needed
Japan and Our Coal Fields.
In view OF the present talk Of a
| possible war with Japan, the Berlng
River coal beds assume great import.
| anco as a supply point OF the ships OF
our navy. In such an event much OF
our coal would have to be shipped by
| rail across the continent or be carried
about through the Strait of Magellan
TO San francisco. In the latter case
1t is estimated that atheist one-ffth
of every cargo brought would be used
up in s,caming that distance, and this
would no In addition To the cost OF
the coal itself The freight rates by
| rail would be enormous. The Bering