Winifrede Coal Co. – Stock Certificate – Mining Stocks

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Location: Portsmouth, New Hampshire
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Item: 184056878997

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Stock printed by Security Bank Note Co. Great Vignette! The Winifrede Coal Company is probably the oldest operating company in West Virginia, the original company having begun operations in 1853 under the name of the Winifrede Mining & Manufacturing Company. Their property consists of twelve thousand acres of coal lands acquired by the present company by purchase from the above concern and located thirteen miles east of Charleston, on the Chesapeake & Ohio Railroad. They are one of the few limited corporations in West Virginia who own their land in fee. They also own and operate the Winifrede Railroad Company, a twelve-mile standard gauge road, its equipment consisting of three locomotives, two hundred and fifty small cars and thirty-five standards. They are also owners of the Belmont Coal Company mine, located twenty miles east of Charleston. These mines produce a high grade of splint coal as well as a’superior gas coal. The Belmont mine has a capacity of one hundred thousand tons annually, the Winifrede three hundred and fifty thousand tons, and their output in 1910 was a little over four hundred thousand tons. Arrangements are now being perfected to increase the output at Winifrede to five hundred thousand tons annually and at Belmont to two hundred thousand tons. The three companies which are owned and officered by the same men are all incorporated under the laws of West Virginia and their employes number twelve hundred. In addition to their extensive acreage of mining lands they own the town of Winifrede, one of the oldest coal-mining towns in West Virginia. It has a population of fifteen hundred, is adequately supplied with schools, churches, stores and other business interests and has a new modern opera house. Frank B. Stewart is in charge of the extensive operations of the three companies”the Winifrede Coal Company, the Belmont Coal Company and the Winifrede Railroad Company”with the title of general manager and treasurer and he is also a director for the same. He has made rapid rise in business, starting in 1890 as junior clerk in the main office at Philadelphia and in 1895 winning promotion to the position of chief clerk, while three years later he was elected secretary and treasurer of the three companies. In 1908 the selling and treasury departments consolidated, and this brought him to Cincinnati, at which time he became general sales agent, while in 1909 he was placed in full charge of the mines at both Winifrede and Belmont, his present duties requiring him to divide his time between the mines and the selling and treasury departments. 63) Winifrede Coal Company In the early 1860s a group of Philadelphia entrepreneurs acquired the Winifrede properties and the Winifrede Railroad and purchased 15,000 acres of coal and timberland on the headwaters of Fields Creek. They organized the Winifrede Coal Company to carry out the coal operations. During the Civil War and into the 1870s the mines were not operated and the railroad tracks and ties rusted and rotted away. In the late 1870s, Winifrede Coal Company began to recover and work commenced to rebuild the railroad. Winifrede Railroad Company received a ch Item ordered may not be exact piece shown. All original and authentic.

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