Word: coke
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Dates: during 1930-1939
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...integrated coal-coke-gas company, Eastern Gas & Fuel makes its headquarters in Boston but control lies in Pittsburgh. It is one of the two big subsidiaries of Koppers Co., a province in the Mellon empire. Other big Koppers subsidiary is Koppers Gas & Coke, whose activities include such diverse jobs as supplying gas to Montreal and creosoting ties for U. S. railroads. Both Eastern Gas and Koppers Gas grew out of a patented coke oven invented by a German named Heinrich Koppers, who improved the method of saving the gas and other coal derivatives formerly blown away in thick smoke...
...boomed the Koppers business because it cut off the German supply of such explosive coal derivatives as ammonia, benzol, toluol. For three years Koppers' Rust built a coke plant every 60 days, a benzol-toluol plant every six weeks. Since these plants needed structural steel, Mr. Rust drew in the Pittsburgh steel team of Charles Donnell Marshall and Howard Hale McClintic. Today the parent Koppers Co. controls at least $400,000,000 worth of properties, has only 16 stockholders. The Mellons own a clear 50% of Koppers' stock, Mr. Marshall 16%, Mr. McClintic 9%, the Rust family about...
From the original Koppers process to its present $227,000,000 form, Eastern Gas & Fuel expanded with curious logic. At first the coke plants were constructed for other companies but as soon as Koppers Co. started to build them for itself, it had to find an outlet for the gas. Though most Koppers units sell gas to local utilities, the gas companies serving Boston and its suburbs were bought outright. To use some of the coke it has a blast furnace near Boston. To insure supplies of coal West Virginia mines were acquired. To keep the mines operating efficiently, coal...
Wholly ignored was the fact that the stockmarket might profit from a rest, that many a low-priced issue not included in the averages was still rising smartly. Also ignored was a good gain over last year in weekly carloadings, notable of basic goods like lumber (up 31%), coke (up 32%), ore (up 101%). And RFChairman Jesse Jones allowed the private banking house of Kidder, Peabody & Co. to underwrite an $8,718,000 Maine Central R. R. refunding plan instead of doing it himself...
...this on health remains unknown, but there is no doubt that coal smoke is a costly nuisance. Dr. Furnas foresees cities made clean by complete conversion of coal into fuel gas at the mine, by piping the clean-burning gas to metropolitan centres. Gas distilled from coal leaves a coke residue-which can also be converted by the water-gas process. Currently, artificial gas for heating is a luxury because it takes about $48 worth to equal a ton of coal. Three-fourths of that cost goes for distribution. If it were consumed on a vast scale in factories...