The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-01-10
U.S.STEEL MAY
GET$34,OOO,OOO
In COAL LANDS
Believed to Be Buyer in Deal
Nearly Closed With j.
Y. Thompson.
LAST AVAILABLE FIELD
IN PENNSYLVANIA

Negotiations have practically been
completed between JOSIAH Van KIRK
Thompson. president OF the First Ma
tional Bank of rn.o7town, Pa, and per-
sons believed To- represent the allied
interests of the United states steel
Corporation or Henry clay Frick for the
sale Of the greater part Of 100000 acres
Of the richest coRing coal lauA in Greene
county. Pennsylvania The transaction
will involve nearly $34,ocO.ooO. Accord
ing TO authoritative information re-
ceived 10y THE SuN the deal Is complete
with the exception Of the drawing up
OF the necessary legal documents. II is
known that Mr. Thompsoa left for
Uniontown last night IN a very pleasant
frame Of mind.
Mr.. Thompson would not say with
whom the neg citations had been con-
Quoted. Neither would he deny that the
other Interests represented in the trans
actions were j. mes V. Reed. a director
of the United states steel Corporation;
A. c. Dinkev. president of the Carnegie
Steel Company; II. G. McEldowney'
president Of the Union Trust Company
OF Pittsburg. and representatives Of
Henry Clay Frick.
Judge Gary. chairman Of the board
of directors Of the steel Corporation,
said last night that his company was
not interested In the deal Inquiries at
the home Of Henry Clay Frick failed to
reveal whether he was in New York
city or in Pittsburg.
Last Available Field.
The coklng coal lands OF Mr.. Thompson
and his associates, w1ich are numerous.
lie in the southwestern corner OF Greene
county, Pennsylvania, and are the only
coking coal fields left In the state, facing
OF the Monongahela River Every other
feld in that part OF the stat has been
taken up by such companies as the
Cruclble Steel Company. the Pittsburg
Steel Company. the Henry Clay Frick
Coal and Coke Company. the Noungs-
town Tube and Sheet Company and
several other of the most important sub
salaries of the United states Steel Cor
poraton.
The greatest value Of these coal lands
lies I'm the fact that they produce cXcu-
sively cokng coal. the sort used by the
Steel Corporation in its furnaces and with
out which il is impossible 20 manufacture
certain OF the highest grades OF steel
the cDklnk coal UeluS ~ TINS county hie
limited.
In speaking Of the transaction Mr.
Thompson said The lands whicn are in
cluded in this transaction lie directly OPP
poshe tho famous Fayette county Goa
lands. which are am, ng the richest In
the country. The Fayette lands are
largely held by the United States S,eeI
Corporation, Henry clay Prick and other
prominent steel interests and are being
mined at a rate of fifty-fve acres per day
or 1880 acres per year. In ten years
practically all OF the $4,000 acres avail
able In Fayette county will have beer
mined and the steel corporation will b,
forced to seek new Pennsylvania fields
None in that State are richer or more
adjacent to their plants than the Green'
county fields which are owned by mysel
and my associates The coal vein forma
ton in Greene county Is much the SAINT
as that in Fayctte county. namely that /
lies In veins OF from seven to nine fee
In depth
The entire coking coal holdings Of Nj
Thompson and his associates In Green
county aggregate over 100000 acres an
are valued at $50 0OO, 600. They extern
from the southwestern part Of the count
directly across the middle OF II and touc
the northwestern boundary line. They II
directly between the coal holdings of man
panies In this country and the create
part OF them are especially accessible
lying as they do along the MOnOngahel
River
Other extensive holdings which lie alou
the boundaries OF the Thompson fields a.!
In the hands of the Pckands- Mather Cor
pany. the William X. Thaw estate, IN
William j. Rainey estate and the Emeral
Coal and Coke Company. Several OF thes
holdings We're purchased from Mr. Thomi
son in former times. Among the first
recognize the value Of these coklng co;
lands was the late John W Gates, and \
AT one time purchased a considerable tra'
OF Mr. Thompson.
Mr. Thompson has been in this city IL
several days, stopping ~ the Waldor
During that time he has been almost cor
stantly in conferences with the Interest
which were negotiating for the coal land
He was accompanied by w. II. Conwa
his attorney. Both OF these gentleme
although willing to talk about the prof.
critics, refused even to intimate with who
they had been negotiating.
After the departure of Mr. Thompso
Mr. Conway said: 81 know that NJ
Thompson is leaving for Uniontown in
very satisfactory frame of mind The-
fore you can draw your own differences
Among Mr. Thompsons associates al
Isaac W. Semans. T.. VI. Semans CASH,
OF the First National Bank of Uniontowr
r. Al. Semans. Jr, Capt. J. NJ. Huste
vice president of the First National Banl
William Hogsett. Samuel Hogsctt Robe
IIogsett William NJ Thompson, a broth
of Josiah Van Kirk Thompson Bedford
Tut James II. Barnes, Judge r. II. Ri
pert, judge r y. Tmbel and Senat
william r. Crow