BLOCK OF MARBLE—for the Tomb of the Unknown Soldier loaded on a flat car to be shipped east. This is the largest single block of marble ever quarried in the world. —Photo by Henry L. Johnson, Marble, Colo.
The contract for the Lincoln Memorial was obtained March 10, 1914, and was to be completed in two years. It was finished late in 1915, several months ahead of time. During this time several other large buildings were also completed. (See listing of buildings made of Colorado marble. pp. [46] & [47].)
The following information was obtained from “A Statement to the Stockholders of the Colorado Yule Marble Company by J. F. Manning”:
World conditions in 1916 coupled with the huge indebtedness accumulated when opening the quarry, building the mill, buying the necessary machinery, building and equipping the power house, extending the railroad from Placita to Marble, and the vast amount of accrued interest, put the company in very bad financial straits. Then World War I coming on, contracts could not be obtained, so the Colorado Yule Marble Co. went into the hands of a receiver July 16, 1916, and remained closed until April, 1922.
The property was then divided into four parts: the mill, the quarry, the power house, and the railroad. Eventually it was put up for sale and was bought by different parties all interested in one thing, forming one company and putting it on a paying basis. Through the efforts of Commodore A. J. Mitchell the Carrara Yule Marble Company was formed and work was resumed in 1922. On July 24, 1924 the Colorado Consolidated Yule Marble Co. (CCYMC) was formed and was again put up for sale.
On November 18, 1924, Mr. J. B. Jones of the Gray-Knox Marble Co. of Knoxville, Tenn., purchased the stock of the CCYMC and leased the Crystal River & San Juan Railroad with option to buy. Then the name was changed again; this time to Tennessee-Colorado Marble Co., and as such was operated until July 2, 1926, at which time arrangements were made to return the plant and properties to the CCYMC.
This reversion was brought about in a large measure due to the fact that the fabricating plant was partially destroyed by fire April 6, 1926. The loss in machinery and equipment in shops Nos. 3 and 4, and mill B, together with the building was appraised at sound value by disinterested engineers at approximately $531,000.00.
About half of the part destroyed was immediately rebuilt and operations to complete their contracts were resumed.
On December 20, 1927, a rental lease and purchase agreement was made between the company and Mr. Jacob F. Smith of New York and a little later he sold to the Vermont Marble Co. who (to this date, 1959) still own the quarry.