Rensselaer Semi-Weekly Republican, Volume 22, Number 79, Rensselaer, Jasper County, 21 June 1901 — BUYS INDIANA’S COAL MINES. [ARTICLE]

BUYS INDIANA’S COAL MINES.

C*naolidated Company to Control Bltnminops Hnalaea* of the State* The consolidation of the biturni noun coat companies of Indiana, numbering about ninety and operating 129 mines, i» now an assured fact. The representative of the trust, John 8, Bays of Sullivan, has closed contracts with the Washington operators, and the fine large mine* in that section will become a part of the trust’s property. The business of the trust will be conducted uader the namebf the Consolidated Coal Company of In-, diana, and the capital stock is $10,000,000. The promoters say that the purpose of the consolidation is in no sense to freeze out the smaller operators, bat the better to control and manage the soft coal interests in this State. All operators who have mines of any importance will be approached and cash will be paid for all property bought. *No company will be required to take stock in the trust. The work of capitalizing the company was completed a week ago. Several Chicago and Indianapolis capitalists are behind the concern. It is claimed that the Indiana field for many years has been greatly damaged by ruinous competition ami that there has been a growing demand for more systematic management and marketing of product* of bituminous mines. The constant losses of operators led to a general or central organization discussion at a recent meeting of several of the operators and th* initial steps were taken to consolidate. The work is practically completed since Washington operators have come to a* agreement.