The Birmingham age-herald., 1912-09-29
Brings Their Alabama Coal Holdings Up to About
 125,000 Acres S275,0O0 IS PAID FOR MILNER PROPERTIES Newly Acquired Lands Near New castle Have Three Openings, 361 Beehive Coke Ovens and
 $50 Houses

The properties of the ATilner Coal and Railroad company have been acquired by Erskine Ramsay and G. B. Mccormack of this city. The properties include 5000 acres of land at or near Newcastle, ten
 miles from Birmingham, on the Louisville
 and Nashville railroad. s61 beehive coke
 ovens. which formerly supplied Wood
 stock and $50 houses.
 The properties have been in the hands of J. B. Darlington of Anniston as re- ceiver since the failure of the Woodstock
 furnaces several months ago.
 The properties of the Miner company were sold by the bankrupt court and
 were bought in by the bpndhoders' pro- tective committee for s275,o0o The bond
 holders include Ramsay and Mccormack
 of this city and some eastern interests.
 After the sale had been made MT Ram
 say and Mccormack acquired the re-
 mainder of the bonds above what they
 held and were entitled to the properties by reason of the bankrupt sale previously made
 Tn effect the price paid by Ramsay and
 Mccormack for the properties was s27S- GOO The mines at Newcastle include three openings one of them is now being op- erated by the new owners and Is turning out 800 tons of coal per day. The other mines have been shut down. The coke ovens have also been down since the Woodstock furnace was closed several
 months ago.
 The properties are held by Industrial
 men to be of great value. The quality
 of coal mined there has always been held
 in the best of esteem by local brokers
 and the consumers.
 The new owners said yesterday that im-
 provements would be made from time to
 time, but just now nothing had been out
 lined at the new property. The new Louisville and Nashville track is now be- ing constructed through the properties
 and will result in the mines being better served than ever by railroad facilities.
 Ramsay Discusses Purchase MT. Ramsay, who gave out the pur-
 chase. said yesterday:
 MT. Mccormack and I personally owned some of the bonds of the Milner
 Coal and Railroad company. The prop
 critics were sold at bankrupt sale after having been in the hands of a receiver
 for some time. The remainder of the
 bonds were held in New York city. After
 the properties were sold we acquired the majority of bonds and became owners l of the properties In effect we paid about s275. 900 for the properties. The new ac- | uuisition has now one mine operating l at Newcastle, which gives out 500 tons | of coal which we intend to sell on the open market The mines include two additional opening, but nothing will be | done there for some time yet. The prop critics include 361 coke ovens, which were l formerly operated for the Woodstock fur mace. They are down now. We have no plans for them at this time. We have | also there 300 houses for the men. "The properties are located ten miles l from Birmingham on the new Louisville and Nashville double track and include 5000 acres of coal lands. The property was operated by the Milner company for some time before the bankruptcy came about We have no plans at this time in regard to improvements, but we hope to get from the mines the maximum amount of coal Those are problems for the fu- ture, however
 Now Have 125, 1000 Acres The holdings of Ramsay and McCor-
 mack after this sale include about 12o,-
 GOO acres of coal land in this state. run ming all the way from Newcastle on the Louisville and Nashville to Tuscaloosa. The owners of this immense acreage have by acquiring their immense holdings taken second rank to the Tennessee Coal, Iron and Railroad company as holders of coal 1 lands in Alabama. it is said. The proper ties of the Pratt company have always
 been operated satisfactorily and expan- l sion has been a firmly set policy of the management.
 | MT. Ramsay said yesterday that he did