ALASKAN COAL MINES.
BLOCKING CONCESSIONS.
By Telegraph.— Association.—
.(Received February 21, 10 p.m.)
Washington, February 21. Evidence given before a committee of the United States Congress that is inquiring into Alaskan, mineral concessions shows that a syndicate, the chief members of which were Mr. Picrpont Morgan and, Senator Guggenheim, arranged to buy half the Cunningham coal claims for £50,000.
Mr. Birch, the syndicate manager, informed the committee that the Cunningham mines would yield 50,000,000 tons, and the profit would be £5,000,000. The entire district yield was estimated at 500,000,000 tons, of a net value of £40,000,000. Under the present' land laws the whole would have passed into private pockets unless Mr. Roosevelt had withdrawn Alaskan lands, pending legislation. .
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Bibliographic details
New Zealand Herald, Volume XLVII, Issue 14301, 22 February 1910, Page 5
Word Count
118ALASKAN COAL MINES. New Zealand Herald, Volume XLVII, Issue 14301, 22 February 1910, Page 5
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