The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1911-01-11
A BIG DEAL FOR
KENTUCKY LAND
HOlIanderS Purchase Over
Million Acres.
MORE THAN s5O,OOO,OOO PAID
For Rich Coal and. Timber
Lands Which. VIII be
Quickly Worked.
MANY NEW CITIZENS COMING

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New York, Jan. 8.-One of the
most gigantic deals ever put through
in this country, involving the expen-
diture of more than $50,O00,00O
and the purchase of 100000 acres
OF wood and coal lands in Kentucky,
was closed at the Hotel Belmont in
this city. The practical finishing
touches to the closing OF the deal
we're added the past two days. The
purchasers are immense banking
and capitalistic interests of Amster-
dam and Holland. The price paid
the Kentuckians for their lands av-
eraged about $50 an acre, though
the ultimate cost is figured at closer
to SEQ an acre,
The deal has been put through by
B. F. P. Romer and Banker Boisse-
vain, of the great banking family OF
that name. Both are residents OF
Amsterdam, and next to the Roths-
childs, the Boissevains, Of Holland,
are the most powerful and wealth
lest bankers abroad. The law firm
of Guggenheim, Untermyer & Mar
shall, through the member OF that
great firm, MI. Slime. who looks af-
ter such matters for them, repre-
sented not only the land owners, but
the purchasers as we'll in the clear
ing up of titles.
The coal and timber lands lie in
Bloody" Breathitt, Knott, Letcher
and two adjoining counties skirting
the State Of West Virginia. Four
years have been spent in getting
options on the acreage sought, and
but six months we're necessary In
Holland in getting the big financial
syndicates together and in working
order. II was 100000 acres that
we're wanted, but the purchasers
had to content themselves with 2O0,-
600 acres less, as 100000 was all
the land obtainable in the desired
localities. 1t is not so long ago that
! c. A. Watson, the Baltimore mill
! ionaire and the owner of fine show
/ horses. and the Consolidated Coal
Companies, created considerable OF
a sensation by purchasing 100000
acres in the same coal and timber
territory. It is intimated that the
timber land in the purchase of the
Hollanders is worth more than $1OO
an acre. The coal, running in aver
age veins of feet, is considered the
best and finest for coking purposes
in the known coal world. 1t is the
intention of the new Dutch owners
to first start in on the timber. To
that end twenty large sawmills viii
be erected in various sections Of the
newly acquired territory.
The timber will be cut by wood
men of Holland and the sawmilli
run by sturdy Dutchmen from thu
| same country WIZ VIII NOAhO W NAA
country by the hundreds to settle II
that part of Kentucky for the pur
pose. Railroads, to be CONSTRUCTED
with other through-bound iroI
thoroughfares, are to be construct
ed, and soon that section OF the Oh
: Commonwealth that has been note'
only on account of bloody feuds an
the assassin's bullets. will be bus
beehive of industry, teeming wit
prosperity and blessed by peace. MI
Romer arrived In New York on tn
st. Paul Thursday from Amsterdam
He, Banker Boissevain and Attorne
Slime we're since porting over the pa
pers in the purchase, working mos
all of last night at the Belmont
This was done in order to give MI
Romer the opportunity of sailin
this morning for Dutch Guines
where he goes to look after propeI
ties owned by himself and his Ho
land associates. Before his retur
to New York, inside of six week
the work of taking actual possessio
= of the Kentucky properties will a
ready have begun.
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