“The property is situated with exceptional advantages for
water shipment,’ said S. Andrew Hartman, managing di-
rector of the eompany, this morning. ‘We are on Massett
Inlet, which opens into Dixon Channel; 80 miles to the
east is Prince Rupert, with all its promises as a consuming
center for coal to feed the steamships and the railroads
that will find terminals there. The Alaska steamships pass
by the mouth of the inlet, and when we get bunkers erected
we will be able to coal them half way on the voyage at a
lower figure than is now possible in the southern reaches of
sritish Columbia. Our harbor in Massett Inlet. has a
depth from 200 to 45 feet, is well protected and will prove
an ideal shipping port for sending coal to all of the Pacific
Coast ports of America.

““T have just purchased and secured for the company a
steam tug, which once did service on the bar of the Co-
lumbia River, and two ocean-going barges, each with a
tonnage of about 3,000 tons. By means of this equipment
we will be able to land the coal at Prince Rupert or any
other portion of the protected waters of the inland chan-
1els. This marine equipment was secured at the cost of
$65,000, whereas the tug in building cost $100,000 new. It
will serve our purposes perfectly, and we have been suc-
cessful in negotiating to pay for the tug and barges in coal
as the company from which we purchased is a heavy con-
sumer and has every faith in our ability to commence pro-
ducing the precious fuel some time next spring.

“Another evidence that gives us high confidence is the
purchase of adjoining coal measures very recently by James
A. Moore, of Seattle, president of the Irondale Furnace
Company which is operating a big plant in Northern Wash-
ington. The consideration reported to have been paid by
Mr. Moore and his associates for their property was $1,000,-
000. This tract has been thoroughly prospected with dia-
mond drills so that they know what they purchased. We
have the same formation, so that we feel no doubt about
getting the coal. We have an advantage over the Moore
syndicate in that we will sink a shaft within a few rods of
deep water, whereas they will have to ship by railway to
tide water.’

“Mr. Hartman says that several leading Portlanders are
in his company. Among the stockholders appear the names
eet naa. £. B.- Wilcox, R. L. Durham, A. B> Crossman and
others.”

19°