Everything seems to be contributing to the building up of a great seaport city at Newport News, Va. The business over the fast freight line established by the Cleveland, Cincinnati, Chicago & St. Louis and Chesapeake & Ohio from the West to Newport News is being increased by grain shipments from along the Chicago & Northwestern. A through rate has been made on cereals for export to Liverpool, with the result that the new line is not only securing business from Missouri and Kansas and the country traversed by the “Big Four” system, but the territory in Dakota, Minnesota, Wisconsin and Iowa for which the Northwestern is an outlet. As the latter has about 3500 miles of lines in these States, the great advantage of having the Northwestern as a feeder is apparent. The people who are forwarding the business have very thoroughly examined the facilities at Newport News and were so pleased with them and the way the business has been handled that they intend making more extensive exports by way of that port.
In this connection it is reported that the Vanderbilts have privately secured a larger interest in the Chesapeake & Ohio and in Big Four than they have ever held, and mean to control absolutely that line from Chicago to the seaboard, with the line of steamers from Newport News.
Southern Coal in Chicago.
President M. H. Smith, of the Louisville & Nashville, has arranged for a reduction of coal rates from Jellico, which will permit of the introduction of Jellico coal into Chicago and Illinois and Michigan points on the same basis as West Virginia coal. This will, it is reported, also include the Middlesborough district. The reduced rate will doubtless result in a great increase in the Western shipments of Kentucky coal, the superior quality of which has created for it a Western demand, despite high freights.
Opening Texas Coal Mines.
The extensive coal deposits near the Rio Grande, in Presidio county, Texas, it is stated, are to be opened and mined on an extensive scale by the San Carlos Coal Co., which controls 53,000 acres of land containing veins of semi-bituminous coal forty-one inches thick in some places. President S. A. Johnston, of the company, in a letter to the Manufacturers’ Record, says that his company has made a contract to sell at least 115,000 tons yearly to the Southern Pacific Railroad. The Northern office of the company is at Pittsburg, Pa.
Another Florida Canal.
Work is about to begin on a canal in Florida which will be of great importance to the lumbering and agricultural interests of the section through which it is to pass. It will extend from a point in Marion county, at the head of Ratcliff’s prairie to Mill Creek swamp. It will be eleven miles long and thirty feet wide at the bottom. The estimated cost of dredging the canal is $75,000. The object of the canal is to reclaim thousands of acres of submerged swamp lands, covered with rich muck from five to ten feet in depth, with a clay bottom, and to provide transportation for pine and cypress timber.
The syndicate interested has purchased 15,000 acres of land along its line. When the improvements are completed they expect to engage largely in the growing of rice and sugar-cane, and hold out inducements to settlers who desire to buy rich lands cheap. D. D. Rogers, at Ocala, is engineer. Among the capitalists interested is Christian Ax, of the firm of G. W. Gail & Ax, Baltimore.