Rensselaer Journal, Volume 11, Number 15, Rensselaer, Jasper County, 19 September 1901 — Big Coal Deal Is Planned. [ARTICLE]

Big Coal Deal Is Planned.

West Virginia is on the eve of a big coal deal. Some time ago the initial move was made by the purchase of all the coal operations on Kanawha river. It was said J. P. Morgan was behind it and that the drafts for the purchase money bore his signature. Hardly had that deal been consummated 'before it was announced that the Flat Top field had been purchased by the same or allied interests for $13,000,000. Wednesday all the New river territory was agog Messrs. Chilton, McCorkle & Chilton, representing New York capitalists, for the past week have been quietly at work, and it is now said that there is not a coal operation on New river on which there is not a twentyday option of purchase. Whether or not the purchase will be made probably will be definitely settled in a day or two. As the present options will soon expire and It will require a deposit of $20,000 to renew. ~