The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1915-02-07
Financiers Speculate as. TO the
Meaning of Investment in
Consolidation Coal Co.

The recent investment by John d
Rockefeller Of several million dollars
In the Consolidation Coal Company
may mean eventually a great change
in coal shipment from Allegheny coun-
.ty. II may divert the great bulk Of
the coal traffic originating in the
Georges creek valley from the Balti-
more and Ohio to the Western Mary
land railroad. 1t has been known
that there was much Standard Oil
Company money in the Western Mary
land Railway Company since its feor-
ganization several years ago and that
those with such heavy financial In
terests in the property as Mr.. Rookie
Teller has would be endeavoring to
bring 1t a larger volume OF business.
is most natural and consistent. The
Western Maryland tracks tap the
and in the middle.
Believed So in Baltimore.
/ In the financial district Of Balti-
more city. where the headquarters OF
the Consolidation Coal Company are,
the theory that Mr.. Rockefeller has
invested millions in the big coal COM
pany aud Will divert at least part OF
Its tonnage NJ the Western Maryland,
Is accepted as a fact despite what is
regarded as qualified denial by
President Jere II. Wheelwright, Of the
coal company.
Whether the deal in which Mr.,
Rockefeller is believed to play the
leading role, involves changes of con-
troll OF the company is probleinatical,
although the belief prevails that even
tually the Standard Oil magnate will
be the dominant factor in the Consol>
idations Coal Company.
Mr. Wheelwright denies that he has
sold any Of his stock, and says that
30 far as he knows Clarence w. Wat
son, H. Crawford Black and A. B,
Fleming, his associates, have not part
ed with their holdings. Mr.. Wheel
wright,s denial Is regarded as diplo-
matte and does not by any means COW
er the whole story.
For instance 1t lis said there Is a
big stock called pool holdings that
the Wheelwrfght Watson-B Black leln-
ing interests control other than their
individual holdings, and 1t Is said that
IL is this block of stock that has been
corralled by Mr.. Rockefeller. with
possibly enough Of the stock held by
Messrs. Watson, Black and Fleming
to give him control OF the property In
conjunction with Mr.. Wheelwrtght.
According to the story which is told
in practically every brokerage office
in Baltimore, the deal provides that
there is to be no change in the man
ngement for three years, and that
President wheelwright holds con-
tract to this effect. y n
I The Wheelwright : Watson Black
Fleming interests absolutely control
the property through ownership 81 "a
clear majority OF the stock, and they
have dominated Ii ever since The Bal
dmore and Ohio railroad sold its mas
jority stock to Nessrs. Wheelwright,
Watson and their associates in 1905.
Purchased Debenture Bonds.
No person in authority has denied
that Mr.. Rockefeller Is the actual pus.
chaser of the S7.000.00D two-year 4
per cent debenttre bonds. Interest
on these bonds is not payable In cash
or stock at par at the option OF the
corporation. Approximately $4,000, 900
stock will be required to make this
conversion. and this Is the ampant Of
the increase in the capita ization the