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28 THE COAL TRADE BULLETIN.
development of the company has taken place
within the last eight years.
Incorporated in 1860 under the laws of Maryland,
the company originally was composed of a num­
ber of properties in the George's Creek, Cumber­
land region, in this state, and its operations for a
long period of time were confined to about 12,000
acres. The first year's production, in 1864. to­
taled 33,641 tons, and the annual output during
the succeeding" 38 years had grown to but 1,753,783
tons in 1902.
The company was greatly enlarged in 1903 by
tbe purchase of the majority stock of the Fair­
mont Coal Co. and of the Somerset Coal Co. and
later the Consolidation took in all the lands and
stocks entire of its subsidiary companies in order
to secure greater efficiency and economy of operation.
B.v the acquisition of these properties the
yearly production was increased four-fold and it
has continued to expand until in 1910 the optput
reached 9,370,633 tons, or an increase of 437 per
cent., since 1902, making the Consolidation Co.
one of the largest producers of bituminous coal in
America.
The market for its output extends from the
head of the Great Lakes to the northeast Atlantic
seaboard, south as far as the Gulf of Mexico, and
west to St. Louis, and by water transportation to
various points on the Pacific coast. Coal is exported
to Canada, Mexico and the Central Ameri­
can countries. Storage plants are located at the
head of the Great Lakes and the New England
seaports. From the port of Baltimore, the Consolidation
Co.
HAS A FLEET
of four ocean-going tugs, 20 ocean-going barges and
one steamer engaged in carrying its coal to New-
England ports.
The Consolidation Coal Co. owns the entire capital
stock of the Cumberland & Pennsylvania railroad,
and a majority of the capital stock of the
Metropolitan Coal Co. of Boston. Mass. The com­
iiany also owns the entire capital stocks of the
Somerset Coal Co. and the Fairmont Coal Co., and
through the latter, owns tlie Clarksburg Fuel Co.,
the Southern Coal & Transportation Co., the Pittsburgh
& Fairmont Fuel Co., and a majority of the
capital stock of the Northwestern Fuel Co. of St.
Paul, Minn. The above holdings aggregate $24,-
871,100 par value.
The Consolidation Co.'s capital stock is $25,000,-
000 and its bonds outstanding amount to $22,500,-
000. Dividends on the stork have been paid without
interruption during the last 28 years, the pres­
ent 6 per cent, rate having been established in
1906. The securities of this great corporation
stand deservedly high in the esteem of investors.
The Consolidation Coal Co. operates 70 bitu­
minous coal mines, situated in the states of Penn­
sylvania, Maryland, West Virginia and Kentucky.
The far-reaching importance of its assets in natural
resources may be appreciated when it is
stated that the Elkhorn field alone is estimated
to contain from 800,000,000 to 900,000.000 tons of
minable coal, and
THE TOTAL HOLDINGS
of the Consolidation Co. are put at 150,000,000
gross tons, or a reserve of coal ample to last for
two centuries.
The company's latest report for the year 1910
shows gross earnings amounting to $12,712,255—
which compares with $3,659,146 in 1902—or an
increase of $9,000,000 over the earnings shown at
the beginning of the eight-year period 1903-1910.
The industrial and commercial supremacy of the
United States is in large measure due to the ex­
cellence and abundance of its coal supplies. The
widened domain and extensive operations of the
Consolidation Coal Co. have made it a great factor
in the industrial life of the country. The marvelous
growth of this company during the last
eight years furnishes a splendid example of what
may be accomplished by a vital, enterprising, aggressive
business policy, combined with large capital
expenditure.
The Consolidation Co.'s control and management
are in the hands of men with lifelong experience
in tbe coal mining industry and a thorough-going
practical knowledge of modern methods of distribution
and sale of the commodity. It naturally
follows that the company's outlook is for endur­
ing prosperity, and under normal business conditions
its productive capacity and earning power
should be materially enhanced through its recent
exceedingly valuable and well-placed investment
in the Kentucky coal fields.
Following the discovery of alleged omissions
in 27 groups of property of the Pennsylvania Coal
& Coke Co. sold at Ebensburg, Pa., recently, a
second sale was held at the same place. The
sale was made by Clarence Valentine, appointed
receiver for the company some time ago by the
courts of Lackawanna county and the property
was bought by an attorney for a committee of
bondholders for the company. It is the inten­
tion of the committee of bondholders to convey
this property to the Clearfield Bituminous Coal
Corporation. It is understood a new corporation
will be formed, which will lease portions of
the property from the Clearfield company.
Stockholders of the St. Clair Coal Co., Scranton,
Pa., will meet on Nov. 2S, to vote on a propo­
sition to increase the indebtedness of the company
to $300,000.