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Show MAJORITY OF STOCK IN COAL MINE REPORTED SOLD. Owners of stock in the Sanpete i Valley Coal Company, which is the owner of the old Larsen coal mine east of Mount Pleasant have received receiv-ed a proposition from II. S. Kerr, who is a representative of the company com-pany that proposes to construct a railroad from Provo into that and contiguous coal fie'ds, this week to sell their holdings to said company at 4.50 per share. Inasmuch as the proposition has been received with favor by a portion of those interested interest-ed and disfavored by others, it has been a bone of somewhat heated contention throughout the valley all week. A well attended meeting of stockholders stock-holders was held in this city Monday ' evenitg, Mr. Kerr addressed the meeting at length on the subject, ex- j vr plaining in detail the advantages that would accure to shareholders and community generally should the sale be made. One of his arguments ,; the strongest one perhaps, and one that would unquestionably appeal to every person with interests in the valley, was that if sale is made, the company would probably establish a large coal camp at the mine m l build the railroad t"i:. Tint, would i mean the employment of iv.a "iy men and would estabh'-'.i fi.sHns e i h market for a", the ;;r ulnee Ov.i could be raised here, it v.vul.l aisu I mean what this-tvcLi;:i need.; nuwvf jail other tilings in an industrial way, j a monthly pay mil of s-nu coase-: coase-: quence. ' Mr. Kerr also stated positively that the fear of the people are absolute! ; grcun iless relative to future possibilities possi-bilities as regards the purchase of coal directly at the mine by ihose preferring to haul their own fuel; not only at the mine in question 'out also at the two other operative mines situated in the East fork of Hunt ington Canyon. A number of local stockholder have nldready sold thier holding-;; aiTil others are seriously considering falling fall-ing in line.' Amass mect:nr held at Moroni voted unanimaly to dispos of the stock held theie. Quite a strong sentiment exits against ag-ainst the sale, however, this beinr; based on the areuement that a sale of the mine means a higher price for l ioca' e-.;il. S -le.e wlio possess this . view cxpe-vt to oppose the proposition I t i the i'loi P le action of Moroni howevvr. aaid tli? strong represen-tations represen-tations re.s.de by Mr. Kerr of the b.'Rffits to follow the s-de and Ids ; statement tliat the price of coal ' will not be increased, coupled with toe lea, thai if the sale is not made no ,v t m;; c enpaay will not build its road to the mine and a sale in the f.o.-o'e will he out. of the question; ah ' the fact that in the past the mine has nut received very general patronage and that its possession by local people has had no apparent effect ef-fect in the way of reducing the pries of coal in Mt. Pleasant markets mar-kets are arguments that are having an effect with holders of stock generally gen-erally and the appearance are that the company represented by Mr. Kerr will be in possession soon Jof a controlling interest in the company if it is not at the present time. Many of the heavest holders have sold, .they looking at tile proposition as being safer and more beneficial for all concerned with rhe new company in the field. A meeting of great importance to the stockholders will be held at the City Hall Saturday evening. |