N&W in 1911--Financials
NW Mailing List
nw-mailing-list at nwhs.org
Mon Jul 12 19:38:39 EDT 2010
Probably coal mining development and land ownership.
Coal mining development had essentially stopped in the Pocahontas coalfield
around 1892 (afer North Fork Branch and Dans Branch development) because the
Pocahontas coal seam went underground in the location of Kimball. To get at
the coal the coal operator would have to put in a shaft mine or slope mine
which was more expensive than the drift mines. A shaft mine at what became
Maitland was tried and it failed.
In 1901 the N&W was able to acquire the land along the Tug Fork through the
Pocahontas Coal & Coke deal and lease 50,000 acres to United States Steel
which began the immediate development of its first 12 mines. Building the
Tug Fork also opened up the mines at Pageton, Black Wolf and Havaco. In the
Pocahontas Coal & Coke Company land deal, The N&W also got the charter to
the Iaeger & Southern. In 1901, Berwind-White Coal Company recorded the
deeds to about 24,000 acres of lands at the southern end of the planned
Iaeger & Southern. Berwind-White committed to shipping 1 Million tons per
year if the N&W would build to its property. George L. Carter started
building a railroad to his property in 1903. This became the Clear Fork
Branch. Also coal operators started opening the Davy-Sewell and Welch coal
seams between Welch and Roderfield.
The Pocahontas coalfield had 13 mine sin 1890, 37 in 1895 and 38 in 1900.
By 1905 there were 77 mines operating in the Pocahontas-Tug River coalfield
and by 1910 there 115. I haven't mentioned the Thacker or Clinch Valley.
In McDowell County alone, coal production was 0.8 million tons in 1890; 2.7
million in 1895, 4.6 million in 1900, 7.6 million in 1905 and 13.6 million
Also by 1910 most of the major construction on building and double trackingf
the N&W was completed, which reduced expenditure.
----- Original Message -----
From: "NW Mailing List" <nw-mailing-list at nwhs.org>
To: <nw-mailing-list at nwhs.org>
Sent: Monday, July 12, 2010 1:43 PM
Subject: N&W in 1911--Financials
Bluefield Daily Telegraph
January 20, 1911
DECADE HAS DOUBLED ROAD'S EARNING POWER
Thanks, Gordon, for transcribing this article. Does anyone have insights as
to the reasons for prosperity during 1911? It is quite a contrast to the
1890s N&W and Shenandoah Valley Railroads when they were in receivership.
f_scheer at yahoo.com
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