The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1913-01-22
GIANT MERGER
OF COAL MINES
Being Planned BY T. Cole
man Dupont.
TO CONSOLIDATE PROPERTIES
In Ohio and Muhlenberg COun-
tieS-MilIiOnS of Dol.
lars in Deal.
THINK 1T WILL SGo THROUGH

Greenville, KY, Jan. 20.-A deal
of great importance to the coal op-
orators of Western Kentucky, and
particularly those of Muhlenberg
and Ohio counties is on now and
promises to be carried to a success
full conclusion within the next few
days. The proposition is the pur-
chase and consolidation of all the
mines in Ohio and Muhlenberg
counties. -.
Daniel Caufiel and L. l.. Denham,
of Wilmington, Del, representing
r. Coleman du Pont, the million
aire powder manufacturer, are in
the field here working with S. j.
Gish, capitalist of Central City,
to effect this combination.
The object of the efforts of these
men is to organize the thirty-two
mines in the two counties into one
gigantic corporation to be known as
the Du Pont Coal Company, after
which first mortgage bonds will be
issued on the property for the en-
tire cost of the different properties
and the Du Pont Coal Company
will pay for the different properties
with these first mortgage bonds
which will bear 6 per cent interest.
The Du Pont Coal Company will
then issue stock to the same
amount of the bonds and will give
the selling operators 40 per cent
of the stock and retain the remain
ing 60. per cent of the stock so as
to be able to control the corpora
ton. The stock part of the deal
will be given to the operators as a
bonus, the properties being pur-
chased with the first mortgage
bonds.
There are twenty-five working
mines in Muhlenberg county and
seven in Ohio county, making thir-
ty-two in all, and the promoters
claim to have options on eighteen
of the mines and are very confident
of securing options on the remain
der.
The Du .Pont Coal Company, If
the deal goes through, will operate
the entire block Of mines through
one general management and one
general Office, the general office Of
the company in all probability be-
ing located in Central City. The
of the concern is being
patterned after the Du Pont Powder
commonly referred to as
the Powder Trust" This compa-
ny, If it is organized, will be able to
control the greater portion of the
output OF Western Kentucky coal.
as for the last two years and for
perhaps longer Muhlenberg county
has mined more coal than any 9TH
er county in the State.
1t is thought that a great many
Of the general managers of the
entering the combination
would be referred by the Du Pont
Coal Company, but as for the Off
GERS of the nef corporation, IL is
thought that the new company
would select them, not necessarily
rom this field, but they would in
Ill probability be selected from diff
Ierent parts of the country, and
would, of course, be selected for
heir knowledge and efficiency, as
efficiency appears to be the chief
argument for the consolidation.
What the policy of the new COM
amy would be toward organized la
'or is not known, but as all of the
miners of the two counties involved
IRE organized. 1t is supposed that 1
hey would remain so. 4
Several million dollars are involv-
d in the deal, and II II is consum-
mated 1t will represent. possibly. '
he largest transfer Of property in
Western Kentucky at any time.
1hether the organization would be
benefit to the people generally of
lie two counties and to the public.
a question.