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FORMER VICE PRESIDENT
IS CHARGED WITH FRAUD.
The Columbus & Hocking Coal & Iron Co. has
entered suit against Sidney A. McManigan. its
former vice-president, now president of the Maple
Hill Co.. for the recovery of $315,000, alleging
fraud in that the profits of the company were
fraudulently diverted by him from the company
to the Maple Hill Co., and were appropriated to
his own use and benefit, while serving as president.
The Maple Hill Co. is made a party to the
suit.
McManigan was also general manager of the
Columbus & Hocking company and had full charge
of its affairs.
It is alleged in the complaint that McManigan
sold coal to the Maple Hill Co. during the period
of high prices incident to the anthracite strike
at $1.15 a ton, when between $3 and $5 a ton
was easily obtainable in the open market; that
the loss to the company by this transaction was
considerably over and at least $200,000. McManigan
is also accused of diverting the car supply of
the Columbus & Hocking Co. and sales of coal to
his own company.
PITTSBURGH'S TONNAGE FOR 1904.
Despite many and serious handicaps both in
mining and shipping, 1904 was one of the best
years in the history of the coal trade of the Pittsburgh
district. During the early part of the
lake season 51 days were lost owing to the strike
of the masters and pilots. During the entire
latter half of the year, Ohio river shipments could
not be made on account of low water. These
drawbacks and the industrial depression which
existed during the greater part of the year seriously
hampered production for long periods. During
the closing months, however, there was a reaction
amounting to the proportions of a recordbreaking
boom, and which brought the total production
for the year almost up to the figures for
1903. This total is estimated in round figures at
30,000,000 tons.
TO EXTEND COAL ROAD.
The Great Lakes Coal Co. is preparing to go
ahead with the construction of the extension of its
railroad lines from Queen Junction, on the Pittsburgh,
Bessemer & Lake Erie to New Castle, Pa.
The new line, which will be 28 miles long, will be
made a part of the Western Allegheny railroad,
which this coal company operates now between
its mines at Kaylor and the Bessemer railroad.
The bonds for these added railroad facilities have
been authorized and the right-of-way arranged for.
The company, which has been quietly working
THE COAL TRADE BULLETIN. 33
on its railroad extensions, is seeking a large industrial
trade in the Mahoning valley, as well as
arranging for a lake trade through its connection
with the Bessemer railroad and dock facilities at
the terminus of that road on Lake Erie.
The new road is to be of standard gauge and
heavily constructed, so that not only coal can be
handled over it, but it will give the Carnegie interest
the opportunity it has long been seeking,
to move ore from the Bessemer docks and lines
to its furnaces in New Castle, without dependence
on other railroad interests.
The line, in addition to increasing the orehandling
facilities for the New Castle furnaces
of the Carnegie Steel Co., will also give better
transportation for the coke supply which has
often been hampered by lack of cars and congested
traffic over the other lines.
The Great Lakes Coal Co. has 23,000 acres of
coal land in Butler and Armstrong counties, and
was organized to develop trade along the lakes
and in the Northwest.
CONNELLSVILLE COKE FREIGHTS.
The following are the coke freight rates from the
Connellsville district: Pittsburgh, 80c; Mahoning
and Shenango valleys, $1.30; Baltimore, $2.05;
Boston, $3.50; Buffalo, $1.85; Cairo, $2.80; Chicago,
$2.65; Cincinnati, $2.10; Cleveland, $1.60; Columbus,
$1.65; Detroit. $2.25; East St. Louis, $2.80;
Elwood, Ind., $2.35; Joliet, $2.65; Louisville, $2.65;
New York, $2.75; Philadelphia, $2.05; St. Louis.
$3.10; Toledo, $2.25.
Mining Resumed On The Monongahela.
The Monongahela river coal mines are resuming
in full after an idleness of almost six months.
The recent rise brought renewed prosperity not
only to miners but to practically everybody in
the Monongahela valley. It is estimated that the
resumption will provide employment for 8,000 to
10,000 men.
Proposed New Coal Road.
The Parkersburg, Pomeroy & Western Railway
Co. was incorporated on December 20 at Columbus,
O. The proposition is to build a steam line of
railway from Toledo to the Ohio river, passing
through the counties of Lucas, Wood, Henry, Putnam,
Allen. Auglaize. Logan. Champaign, Clark,
Madison, Fayette, Ross, Jackson, Vinton, Gallia,
Meigs, Athens and Washington to a point on the
Ohio river opposite Parkersburg, W. Va. The proposed
route and terminal would indicate that the
promoters have in mind the building of a road
which will derive its main revenue from coal
traffic.