El Paso herald. (El Paso, Tex.) 1901-1931, 1911-05-13
FRANK G.. CARPENTERS LETTER


the titles, and that he had estimates
| their value at half cent ton IN TN
ground. This seems ridiculousiy low
! but even at this rate he says the landi
near the Pacific coast would be worth
from $50 to $500 per acre.
| here ventured a suggestion that 1
Pierpont Morgan or one of the Guggen
helms wished to perpetuate his WeaiLi
he might invest 100000 in such land:
with the understanding that they were
to be mined only by his great great
grandchildren 100 wears from now.
'It would seem so, replied DR.. Brooks
"but we have had a discussion concern,
inc prospective values that makes thai
matter a very questionable one. Even II
the lands could be bought 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 a big
amount of coal to pay the interest
charges l have had one of the financiers
figuring upon the possibilities.
He SAYS tbaS at SO an acre the invest
ment in 100 years by annually COM
pounding the interest at percent would
make every acre there cost S2634. not
counting the taxes Now, if the invest
ment were 100000 instead of $40 the
interest charges and principal in 100
wears would amount to the enormous
sum of $26, $40, 900, or if it were million
dollars the total cost of the land would
then be 1858, 100000. You must also re-
member that the coal has to be still got
out of the earth, and that You can
not be absolutely sure as to just what
is under the ground. In all this we have
left out the question OF taxes, which
would go up as the other coal mines
nearby were developed, 50 that there is
great doubt as TO the advisabilitY OF
century holding of Alaska coal"
The Market for Coal.
| went with DIR. Brooks over the maps
of his recent explorations and took
look at the Bering river and Matanuska
coal fields, which are now being dis
cussed Neither is far from the sea, and
the Guggenheims have already built a
railroad which is not more than % miles
or SO from the Bering river beds. The
coal of this region is excellent, varying
from anthracite to valuable semi btu
minous The beds cover something like
40 square miles, and they will yield from
10000 to 100000 tons to the acre. The
Matanuska field is not much farther
away, and It is probable that there are
other fields IN the immediate vicinity.
This coal could be made quickly avail
able, and it would command q good price
in the market.
In talking with DR.. Brooks I was told
that the coal trade of the Pacific is now
largely monopolized by the British, who
are working valuable mines on Van
couver island, from which they supply
Puget Sound. San Francisco, and other
places. The Vancouver coal delivered at
tidewader sells for as high as $3.50 ton
and is sold at wholesale in Seattle at
SIS. In California coal is now bringing
from Sc to SIS a ton, and on the Pacific
seaboard Of Alaska the retail prices run
from So to SIS per ton. At Nome coal
IS selling for from SIS to s25, and these
prices viii probably continue until rhe
Alaskan coal fields are opened. Just at
present there are some Ignite fields be-
ing worked on the Seward peninsula.
This is contrary to law, and the miners
have been warned to desist. They are
far off in the wilderness, however, and
the warnings are not needed.
Japan and Cur Coal Fields.
In view of the present talk of a pos
sible war with Japan, the Boring river
coal beds assume great Importance as q
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 it is estimated that at
least one-fifth of every cargo brought
would be used up in steaming that dis
tance, and this would be in addition to
the cost of the coal itself The freight
rates by rail would be enormous. The
Boring river coal beds are about 1900
miles by water from Puget sound, and
they are not far from the excellent har-
Dor of Cordoya bay. They might be de-
Tended by some of the great ships of
our navy, or Japan might rush there
with a part of her fleet and capture the
coal supplies. All she would need to do
would be to take about % miles of rail
road material along, and extend the pres
4 possibility is probably well known to
the war departments of both nations,
and 1t is safe to say that the United
States would be on the ground first. I
AT present the oil fields of California
Ire competing largely for the fuel trade |
n the markets of the Pacific Many of |
he steamers are now using oil, and oil is
argely employed on the railroads. It is |
'old for fuel in all the Pacific coast |
states and territories, and its use in |
,reases each year. In 1908 the. oil con- |
'umed was equal to 12,000,0O0 tons of |
'oal, whereas the coal alone was con-
less than half that.
This is a factor that must be consid- |
red in connection with the Alaskan coal !
when it comes into the market. and an ,
,ther factor is the coal that will come |
through the Panama canal. Dr. Brooks |
las figures which show that When the |
anal is COMPLETED eastern coal can be I
anded in San Francisco at $3.50 a ton. |
This means putting it on the ship at the
Atlantic coats ports at cost of 50 per
on. paying a freight of 50 and canal |
'ollage of about As cents He says also |
hat it is estimated that it will cost
tbout $3.50 ton to put the Alaskan |
Oal into San Francisco. So you see it |
S quite a question whether the Alaskan |
oal beds viii not have to fight for the
market.
For the same reason the Panama canal |
vail affect the coal trade of the states
long the west coast of South America. |
Those countries can be supplied from
Alaska, but the canal will make them
ccessible to our Atlantic coal fields, and I
hey will probably be supplied from the
mines of both places.
AS to Alaska itself, there can be little
development in that country until the
oal fields are opened. Railroads are inn |
possible at the high coal rates of today,
md all industry is tagging there for
heap fuel. 1t will take a big sum of /
money to construct the railroads and
pen the mines, and this money can only
,e supplied by organized capital. DR.. |