The Birmingham age-herald., 1918-04-13
REMARKABLE RISE
 IN COAL STOCK
By HOLLAND


 New York, April 12-(Special )--Within day or two the quotations for the stock of coal company. owned in New York but located in Texas, have reached the phenomenal figures of s6S0 a share. Not withstanding the intense interest which is eentered in the attempt speedily to absorb the third Liberty Loan and also in the war news from Europe, this quo- tation has been the cause of a great deal of comment for several reasons.
 Tn the first place it is reported to be the largest increase within like period of time in the market value of a stock which those who are familiar with se- curity market transactions for years have any knowledge. For the stock of this corporation was quoted three or four months ago at a little under s2o0 share. In the next place, the high market value of this stock does not reflect any speculative attempt to manipulate it. It. appears to be legitimate increase rep resenting real values. Some weeks ago the iresident of the company published an advertisement which was unique since never before in the history of corporate ] activities, so far as they related to the securities market, has an announcement of that kind been officially published. The president of the corporation called attention to the fact that the market price of this stock was beginning to ap- preciate. He earnestly advised those who were in possession of the stock not to venture into the market with intent to l take advantage of this increase price. His intimation was clear that there were l to be developments which, in all proba- bility, would serve still further to in- | crease the market price. As the stock was only closely held, there would be little opportunity for attempted specula- I ton in it.
 l As the president of this corporation is a man who has gained high repute for integrity and business ability and is prominently associated with one of the leading private banks of New York, the announcement was accepted as having been made in good faith and without any attempt to influence the market
 A GREAT APPRECIATION
 Some years ago Blair Brothers, firm that is numbered among the leading pri- vate bankers of New York, became in terested in a coal mining property in Texas. The property covered about 50,00e | acres. It was fairly remunerative proposition. It was well managed by l President Marston. It was not a specu- latjve undertaking. It has pursued its 1 course conservatiyely and successfully l for a number of years. That is shown by the quotation for the stock which, although it was closely held, was main tained for sometime at about S200 a Ishare.
 Recently this coal mine proposition be- came an unexpected and, as is believed. a magnificent oil producer. The squirting forth of oil in large amounts caused the great oil authorities of the United States to give heed to this unexpected phe- nomenon. They made investigation. They were satisfied with their results of this l investigation. A nsw oil field that gave unusual promise of long maintenance had suddenly revealed itself.
 The Standard Oil people and the Blair Brothers began conference the result Of which was the association by the oil mer with the proprietors of this coal mine The oil men knew how to handle the product The owner of the coal mine was not familiar with the oil business. Therefore an arrangement, which was oi mutual advantage, was entered into with the result that those who were for tunate enough to be in possession or stock in the coal mine found themselves enriched by reason of the great appre-
 
 the oil production. Of course the appre- citation is in part due to the great de mand for oil at this time. Veterans o1 the financial district say that apprecia tion of this kind, not due to any specu- lative venture but. solely to the discov- cry of unexpected riches in the coa property, is without any precedent in the history of the securities market There have been other great expectations gained within short time. Some ol these were due to speculative movements some of them to consultations or the absorbtion of various companies. This appreciation stands apart and is likely te become traditional.
 Blair Brothers have been interested in : other coal ventures. This banking house was with the late Herman B. Ream and T. Jefferson Coolidge of Boston. the pro moters of the development of the Clin- field coal district and the construction of that model railroad which reaches from the Chnfield district in practically Ia straight line with low grades and in expensive curves to Spartenburg, $. C., iwhere connection is made with the rail- iroad which conveys the coal to the new and great terminal facilities which the company has established at Charleston, South Carolina.
 1 A GREAT GAMBLE
 Prospecting with intent to discover and develop oil properties is an even greater gsn1ble or risk than any that has been associated with prospecting with intent Ito discover new gold mines. Those who are competent to speak say that almost as much money has been lost in gold mining prospecting and attempts to de- velopment mines that proved to be small producers as has been taken out of suc- cessful gold mines, with oil prospecting