COAL - Clpdigital.org

32 THE COAL TRADE BULLETIN.
the industrial leaders of this community for so
many years his leaving Pittsburgh is a subject of
much regret attended by congratulations over his
promising new enterprise. The accompanying
picture of Mr. McFadyen is the first ever pub­
lished,
Mr. Frank L. Powell of Indianapolis the treas­
urer and chairman of the finance committee of
the new conipany, is president of the Capital
National Bank of Indianapolis and is a member
of an old family of conservative bankers engaged
in financial affairs in Indiana for nearly threefourths
of a century. Mr. Powell was born about
46 years ago at Madison. Ind.. and entered the
JOHN McFADYEN,
Who becomes Vice President and General
.Manager of the new Vandalia Coal Co.
National Branch Bank of that town, which his
father established 72 years ago, as a messenger.
He gradually went through all the steps of promotion
and under his presidency the bank's dividends
have been increased from 6 to 10 per cent.,
the surplus doubled and the bank placed in the
distinctive place of few such institutions of Indiana
with surplus exceeding capital. He established
the Madison Trust Co. of Madison.
During the hard times of '93 it was a matter
of comment that the conservative National Branch
Bank did not reduce its line of discount 0 , but
carried every customer safely through. Several
times he was sought to take the presidency of
banks at the Indiana capital but put off the offers
through his preference to retain his residence
with his family at Madison, but in June, 1904, he
accepted the proffered presidency of the Capital
National Bank, succeeding William F. Church­
man. The Vandalia Coal Co. is fortunate to se­
cure so masterful and successful a banker for its
treasurer.
Corrected from the list printed in the last issue
of THE COAL TRADE BULLETIN, the following are
the concerns and the number of mines owned by
each which are merged: Island Coal Co., five;
Johnson coal, Indiana Bituminous Coal, Zeller &
McCIellan Coal, Minshall Coal and Seeleyville
Coal companies, two each; Indiana & Chicago Coal,
Home Coal, Lost Creek Coal, South Linton Coal,
Island Valley Coal, White Rose Coal, Greenville
Bituminous Coal Mining, Ashville Coal, Enterprise
Coal, Raccoon Valley oal, New Linton Coal and
Sugar Creek Coal companies, one each. This is
a total of 26 mines operated by the 18 concerns
named and owning 29,000 acres of coal. The
bond issue of $3,000,000 is in 25-year six per cent.
gold bonds. The preferred shares, amounting to
$2,000,000, are a six per cent, stock and there is
a like amount of common.
INSPECTOR HARRISON URGES THE
REVISION OF OHIO MINING LAWS.
In his report on the coal industry for 19Q4,
Chief Mine Inspector George Harrison, of Ohio,
presents the following statement to Governor Herrick
in support of his plea for a revision of the
state mining laws:
"In submitting to you this report we would feel
ourselves lacking in our sense of duty if wfe
failed to call your attention to the necessity of
a very urgent need of a general revision of the
mining laws of the state, and the enactment of
more stringent measures requiring proper and
necessary discipline amongst all employes, and
more clearly setting forth the duties and respon­
sibilities of those in charge of mines.
"The numerous tables of figures given in this
report clearly show the increasing importance
of the mining industry in the state of Ohio, both
by the increase in the number of mines and
miners, the production of coal, introduction of
machinery into the mines, and, last but not least
in its importance, in the alarming and unnecessary
increase in the sacrifice of human life and
limb, much of which we believe could be avoided
without necessarily adding one single mill per
ton to the cost of the production of coal.
""Notwithstanding that 67.3 per cent, of the entire
production of coal of the state is mined by
electric and compressed air machines, and electric
coal hauling motors are in general use, there
is not a word in the laws governing the operation