The Big Sandy news., 1913-02-21
ELKHORN FUEL CO.
Takes Over Big Sandy Coal
Properties.
Thirty Millions Dollars Deal Completed
Means Great Development in
This Field.

This Field.
The organization during the past
week of the Elkhorn Fuel Co., with
a proposed capitalization of $50, ,000-
900, which has secured control of
nearly 100000 acres of coal land in
the Elkhorn field of Eastern Ken
lucky, and the issuing by the Con-
Coal Co. of this city of
100000 of securities for the pur-
pose of enlarging its vast operations
in the Elkhorn field into which 1t
has already put about $4,000. 900
or more, following the purchase a
year or more ago of 1000 acres
in that district by E. J. Berwind,
the great coal operator of Philadel-
phia, and the organization of COM
pany in November. 1911, by Hayden
Stone & Co. of Boston with q capi-
talization of $4,000, 900 for the pur-
chase and development of 10000
acres in that district, very striking
ly emphasize the fulfillment of the
prediction made In the Manufactur-
ers Record of October 81, 1909, and
of other predictions made more than
20 years ago as to the future OF
the Elkhorn field.
In our issue of October 81, 1903,
an announcement was made that Mr.
T. j. Mitchell. for 80 years the head
of the w. ]. Rainey coke interests
of the Connellsville region. next to
H. c. Frick Co. the largest coke
producers In the United States. af-
ter many years of investigation had
decided to turn his attention to the
development of the Elkhorn field,
and in connection Herewith 1t was
said:
mo more important move look
ing to the broadest development of
the coke interests of the country
has been made for many years. 1t
means not simply the beginning of
the broad development of what is
today by many experts regarded as
the finest coking coal field in Amer
ica but 1t means the opening up of
strategic situation in coke-mak-
ing OF the most far-reaching impor-
tance to the whole iron and steel
production of the country. That Mr..
Mitchell, with 80 years OF leader
hip in the Connellsville field, has
decided to identity himself with the
development OF the Elkhorn field
taken in connection with plans now
being formulated, Is tribute to the
coking coal territory comparable in
Importance to the tribute paid to
the Alabama iron situation when the
United State, Seel Corporation back
ed its faith in that district by the
purchase of the Tennessee property
The beginning of the development
of the Elkhorn field by the immedi-
ate building of coke ovens by the
Mitchell company will concentrate
the attention of the iron and steel
and railroad people upon the po-
tentialities of the district destined,
IL would seem, to be the metallurgi-
cal interests of the country what
the Connellsville field has been in
the past.
In describing the situation, Mr.
Mitchell says:
1T is well known to those famil-
lar with the iron and coke inter-
ests OF the country that the Con-
nellsville field, with its 40.00d coke
ovens, is rapidly being exhausted.
have seen the value of coal prop
erty in this territory advance from
a nominal figure until it is now
worth $4,000 an acre, and in some
cases il is held at even higher fig
nres. This IS not entirely due 10
the proximity OF this field to the
PittsDurg iron and steel center, but
rather to the universally recogniz-
ed superiority of Connellsville coke
over any other coke produced in the
United States. After very thor
ough investigation, have reached
the conclusion that the Elkhorn
coal OF Eastern Kentucky produces
a coke superior to the Connellsville.
This is not new convection. Six
teen years ago investigated the
field for the Merritts. who were
then owners of the Mesaba iron-ore
range. They were then negotiating
for its purchase with view to its
development in connection with the
Mesaba district. Had they been
able % tie these two properties to-
gether, they would have owned a
of ore and coking coal
greater than that now controlled by
the Steel Corporation. In the pan
ic OF 1898, however, they lost the
control OF the Mesaba properties,
Mr.. John ID. Rockefeller becoming
possessed of their Mesaba interests,
and, of course, that made 1t inn
possible for them TO carry out pur-
chases OF the Elkhorn field.'
The statement was made that the
determination of Mr.. Mitchellknown
the country as one of
the great coke makers ,of America.
to concentrate his operations in the
field. and his very strong
of the possibilities Of
that section, twill concentrate the
attention of the iron and steel and
railroad people upon the potentian-
ties Of the district destined, 1t would
seem. to be the metallurgical inter-